2.   The purposes of this act are to:

   a.   provide for the registration of self-funded or partially self-funded multiple employer welfare arrangements;

   b.   regulate self-funded or partially self-funded multiple employer welfare arrangements in order to ensure the financial integrity of the arrangements;

   c.   provide reporting requirements for self-funded or partially self-funded multiple employer welfare arrangements; and

   d.   provide for sanctions against self-funded or partially self-funded multiple employer welfare arrangements that do not comply with the provisions of this act.

   L.2001,c.352,s.2.