§ 27-8-31-5 — Commission members; action; bylaws

Indiana § 27-8-31-5

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 8: LIFE, ACCIDENT, AND HEALTH
• Ch. 31: Interstate Insurance Product Regulation Compact

Text

(a) Each compacting state shall have and be
limited to one (1) member. Each member shall be qualified to serve in
that capacity under applicable law of the compacting state. Any
member may be removed or suspended from office as provided by the
law of the state from which the member is appointed. Any vacancy
occurring in the commission shall be filled in accordance with the laws
of the compacting state where the vacancy exists. Nothing in this
section shall be construed to affect the manner in which a compacting
state determines the election or appointment and qualification of the
compacting state's commissioner.
(b) Each member is entitled to one (1) vote and is entitled to an
opportunity to participate in the governance of the commission in
accordance with the bylaws. Notwithstanding any provision in this
chapter to the contrary, no action of the commission with respect to the
promulgation of a uniform standard is effective unless two-thirds (2/3)
of the members vote in favor of adoption.
(c) The commission shall, by a majority of the members, prescribe
bylaws to govern the commission's conduct as may be necessary or
appropriate to carry out the purposes and exercise the powers of the
compact, including the following:
(1) Establishing the fiscal year of the commission.
(2) Providing reasonable procedures for appointing and electing
members and holding meetings of the management committee.
(3) Providing reasonable standards and procedures:
(A) for the establishment and meetings of other committees;
and
(B) governing any general or specific delegation of any
authority or function of the commission.
(4) Providing reasonable procedures for calling and conducting
meetings of the commission and ensuring reasonable advance
notice of each meeting, including:
(A) requiring a majority of commission members to attend a
meeting;
(B) providing for the right of citizens to attend the meetings
with enumerated exceptions designed to:
(i) protect the public interest;
(ii) protect the privacy of individuals; and
(iii) insure proprietary information, including trade secrets;
(C) allowing a meeting in camera only after a majority of the
members of the commission votes to close a meeting en toto or
in part, with no proxy voting; and
(D) providing for the commission, as soon as practicable after
a vote to close a meeting as described in clause (C), to make
public:
(i) a copy of the vote to close the meeting revealing the vote
of each member; and
(ii) votes taken during the meeting.
(5) Establishing the titles, duties, authority, and reasonable
procedures for the election of the officers of the commission.
(6) Providing reasonable standards and procedures for the
establishment of the personnel policies and programs of the
commission. Notwithstanding any civil service or other similar
laws of any compacting state, the bylaws shall exclusively govern
the personnel policies and programs of the commission.
(7) Promulgating a code of ethics to address permissible and
prohibited activities of commission members and employees.
(8) Providing a mechanism for winding up the operations of the
commission and the equitable disposition of any surplus funds
that may exist after the termination of the compact after the
payment and reserving of all the commission's debts and
obligations.
(d) The commission shall publish bylaws in a convenient form and
file a copy of the bylaws and amendments to the bylaws with the
appropriate agency or officer in each compacting state.

Legislative History

As added by P.L.138-2005, SEC.3.