§ 26-31-108 — Plan of operation

(a) The association shall submit to the commissioner a
plan of operation and any amendments thereto necessary or
suitable to assure the association's fair, reasonable and
equitable administration. The plan of operation and any
amendments thereto are effective upon the commissioner's written
approval.
(b) If the association fails to submit a suitable plan of
operation or if at any time the association fails to submit
suitable amendments to the plan, the commissioner, after notice
and hearing, shall promulgate any reasonable rules necessary or
advisable to carry out the provisions of this chapter. The rules
shall continue in force until modified by the commissioner or
superseded by a plan submitted by the association and approved
by the commissioner.
(c) All member insurers shall comply with the plan of
operation.
(d) The plan of operation shall:
(i) Establish procedures for:
(A) The association to perform its powers and
duties;
(B) Handling association assets;
(C) The amount and method of reimbursing members
of the board of directors;
(D) Filing claims with the association and
determining acceptable forms of proof of covered claims. Notice
of claims to the receiver or liquidator of the insolvent insurer
shall be deemed notice to the association or its agent and a
list of claims shall be periodically submitted to the
association or similar organization in another state by the
receiver or liquidator;
(E) Records to be kept of all financial
transactions of the association, its agents and the board of
directors;
(F) Any member insurer aggrieved by any final
association action or decision to appeal to the commissioner
within thirty (30) days after the action or decision;
(G) Submitting selections for the board of
directors to the commissioner.
(ii) Establish regular places and times for meetings
of the board of directors;
(iii) Contain additional provisions necessary or
proper for executing the association's powers and duties.
(e) The plan of operation may provide for the delegation
of any association powers and duties, except those under W.S.
26-31-106(a)(iii) and (b)(iii), to a corporation, association or
other organization which performs or will perform functions
similar to those of this association, or its equivalent, in two
(2) or more states. The corporation, association or organization
shall be reimbursed as a servicing facility would be reimbursed
and shall be paid for its performance of any other association
functions. A delegation under this subsection is effective only
with the approval of both the board of directors and the
commissioner 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.