Subpart 1.
Content.
Bylaws may contain any provisions that do not conflict with
parts
2785.0100 to
2785.1600. Bylaws must, at a
minimum, contain the following provisions:
A. the pool's name, purpose, fiscal year, and
initial date of existence;
B.
definitions of key terms;
C. a
statement of the powers, duties, and responsibilities assigned to the board,
the service company, the financial administrator, and reserved by the
membership;
D. the number, term of
office, and method of selection and replacement of the members of the
board;
E. the procedure for calling
board meetings;
F. the method of
periodic selection and review of the service company and financial
administrator;
G. the procedure for
amending the bylaws;
H. the
procedure for resolving disputes among members, which must not include
submitting disputes to the commissioner;
I. the criteria for membership in the pool,
including standards of financial integrity and loss experience;
J. the procedure for admitting new members to
the pool;
K. the criteria for
expelling members from the pool, including nonpayment of premium;
L. the procedure for withdrawal and expulsion
of members from the pool, including the minimum required period of
membership;
M. a statement of the
coverages the pool intends to provide;
N. the procedure for adding and dropping a
member's participation in a particular coverage;
O. a schedule for premium payments by members
and, if applicable, their employees;
P. the procedure for changing premium
rates;
Q. the procedure for levying
and collecting an assessment;
R. a
statement of who may have access to pool funds and for what purposes;
S. the procedure for distributing dividends,
and the eligibility of past members and past covered employees for dividends;
and
T. the procedure for
distributing any assets remaining upon the pool's dissolution.
