§ 24-A §4610 — Plan of operation

1.
Establishment of plan.
A plan of operation shall be established as follows.
2.
Compliance.
All member insurers shall comply with the plan of operation.
3.
Requirements of plan.
The plan of operation shall, in addition to requirements enumerated elsewhere in this chapter:
4.
Delegation of association powers and duties.
The plan of operation may provide that any or all powers and duties of the association, except those under section 4608, subsection 11, paragraph C and section 4609, are delegated to a corporation, association or other organization which performs or will perform functions similar to those of this association, or its equivalent, in 2 or more states. Such a corporation, association or organization shall be reimbursed for any payments made on behalf of the association and shall be paid for its performance of any function of the association. A delegation under this paragraph shall take effect only with the approval of both the board of directors and the superintendent and may be made only to a corporation, association or organization which extends protection not substantially less favorable and effective than that provided by this chapter.

Legislative History

PL 1983, c. 846 (NEW).