New Jersey Statutes 17:48E-46.16. Full-time employees maintained for 36 months following transition
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Terms Used In New Jersey Statutes 17:48E-46.16
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
16. a. Upon the formation of a mutual holding company, the total number of full-time employees that were employed within a mutual holding company system shall be maintained for a transition period of 36 months following that formation based on the full-time employee count of the health service corporation as of September 30, 2019, except as provided in subsection b. of this section.
b. This section shall not:
(1) supersede the terms of any collective bargaining agreement; or
(2) require a mutual holding company system to replace headcount lost due to voluntary attrition or terminations for cause, including for performance, or replace any loss of headcount attributable to a decline in enrollment, market share, or loss of a major account.
c. This section shall expire following the transition period of 36 months following the formation of a mutual holding company.
b. This section shall not:
(1) supersede the terms of any collective bargaining agreement; or
(2) require a mutual holding company system to replace headcount lost due to voluntary attrition or terminations for cause, including for performance, or replace any loss of headcount attributable to a decline in enrollment, market share, or loss of a major account.
c. This section shall expire following the transition period of 36 months following the formation of a mutual holding company.
L.2020, c.145, s.16.