54-52.2-03.2. Deferred compensation program - Board authority - Provider information

54-52.2-03.2. Deferred compensation program - Board authority - Provider information. 1. The board shall adopt rules necessary to implement this chapter and to manage the deferred compensation plan subject to the limitations of this chapter. 2. The board shall do all things necessary to preserve the tax-exempt status of the plan. 3. All providers must be authorized to do business in this state and all agents of providers must be licensed by the appropriate licensing authority or authorities in this state. 4. To continue to participate in the program, each provider must report annually, in a form and manner specified by the board, information related to their products, administrative and management fees, contract and maintenance charges, withdrawal penalties, market rating, and such other information the board may require. 5. The board may suspend participation of any provider that does not meet the requirements of this chapter or the rules adopted by the board. 6. The board has the authority to establish a deferred compensation advisory committee which shall include active providers who have signed a provider administrative agreement with the state of North Dakota deferred compensation plan.