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.