376.962. Plan of operation to be submitted by board--effective when--failure to submit, director's duty to develop rules--plan content.
Plan of operation to be submitted by board--effective when--failureto submit, director's duty to develop rules--plan content.
376.962. 1. The board of directors on behalf of the poolshall submit to the director a plan of operation for the pool andany amendments thereto necessary or suitable to assure the fair,reasonable and equitable administration of the pool. Afternotice and hearing, the director shall approve the plan ofoperation, provided it is determined to be suitable to assure thefair, reasonable and equitable administration of the pool, and itprovides for the sharing of pool gains or losses on an equitableproportionate basis. The plan of operation shall becomeeffective upon approval in writing by the director consistentwith the date on which the coverage under sections 376.960 to376.989 becomes available. If the pool fails to submit asuitable plan of operation within one hundred eighty days afterthe appointment of the board of directors, or at any timethereafter fails to submit suitable amendments to the plan, thedirector shall, after notice and hearing, adopt and promulgatesuch reasonable rules as are necessary or advisable to effectuatethe provisions of this section. Such rules shall continue inforce until modified by the director or superseded by a plansubmitted by the pool and approved by the director.
2. In its plan, the board of directors of the pool shall:
(1) Establish procedures for the handling and accounting ofassets and moneys of the pool;
(2) Select an administering insurer in accordance withsection 376.968;
(3) Establish procedures for filling vacancies on the boardof directors;
(4) Establish procedures for the collection of assessmentsfrom all members to provide for claims paid under the plan andfor administrative expenses incurred or estimated to be incurredduring the period for which the assessment is made. The level ofpayments shall be established by the board pursuant to theprovisions of section 376.973. Assessment shall occur at the endof each calendar year and shall be due and payable within thirtydays of receipt of the assessment notice;
(5) Develop and implement a program to publicize theexistence of the plan, the eligibility requirements, andprocedures for enrollment, and to maintain public awareness ofthe plan.
(L. 1990 H.B. 998 § 2 subsecs. 4, 5)Effective 1-1-91