§ 97-134. Plan of Operation. - North Carolina Statutes

§ 97‑134.  Plan ofOperation.

The Plan is as follows:

(1)        The Associationshall submit to the Commissioner a Plan and any amendments necessary orsuitable to assure the fair, reasonable, and equitable administration of theAssociation. The Plan and any amendments become effective upon approval inwriting by the Commissioner. If the Association at any time fails to submit asuitable Plan or suitable amendment to the Plan the Commissioner shall, afternotice and hearing, adopt such reasonable rules as are necessary or advisableto effectuate this Article. The rules shall continue in force until modified bythe Commissioner or superseded by a Plan submitted by the Association andapproved by the Commissioner.

(2)        All member self‑insurersshall comply with the Plan.

(3)        The Plan shall:

a.         Establish theprocedures whereby all the powers and duties of the Association under G.S. 97‑133will be performed.

b.         Establish proceduresfor investing and managing Fund assets.

c.         Adopt a reasonablemechanism and procedure to achieve equity in assessing members under G.S. 97‑133.

d.         Establish the amountand method of reimbursing members of the Board under G.S. 97‑132.

e.         Establish proceduresby which claims may be filed with the Association and establish acceptableforms of proof of covered claims.

f.          Establish regularplaces and times for meetings of the Board.

g.         Establish proceduresfor records to be kept of all financial transactions of the Association, itsagents, and the Board.

h.         Provide that anymember self‑insurer aggrieved by any final action or decision of theAssociation may appeal to the Commissioner within 30 days after the action ordecision.

i.          Establish theprocedures whereby selections for the Board shall be submitted to theCommissioner.

j.          Contain additionalprovisions necessary or proper for the execution of the powers and duties ofthe Association. (1985(Reg. Sess., 1986), c. 1013, s. 1; 1987, c. 528, s. 11; 2005‑400, s. 5.)