a. A health service corporation may be established:
(1) By incorporating and obtaining a certificate of authority in accordance with the provisions of this act; or
(2) By the merger of a hospital service corporation and a medical service corporation.
b. A health service corporation shall be incorporated under and shall conduct its business pursuant to the provisions of Title 15A of the New Jersey Statutes, except that where the provisions of that title are inconsistent with the provisions of this act, the provisions of this act shall govern.