(a) Application for a license must be made on forms prescribed by the Commissioner. No multiple employer self-insured health plan may be licensed unless it has and maintains a minimum of 250 covered employees.

(b) Every multiple employer self-insured health plan shall pay to the Commissioner annual license fees, as established by rule or regulation of the Commissioner.

(c) Every multiple employer self-insured health plan shall pay to the Commissioner the premium taxes required for insurance companies as set forth in Chapter 8 of this title.

(d) The Commissioner shall establish, by rule or regulation, security deposits for multiple employer self-insured health plans.