435E-46 Attendance and testimony.
§435E-46 Attendance and testimony. No person is excused from attending or testifying or from producing any document or record before the commissioner, or in obedience to the subpoena of the commissioner or any officer designated by the commissioner, or in any proceeding instituted by the commissioner, on the ground that the testimony or evidence (documentary […]
435E-24 Noncomplying member.
§435E-24 Noncomplying member. In the event a participating member fails to comply with any provision of the trust agreement (other than a failure to pay assessments when due), the board of trustees may terminate the person’s membership status if such failure to comply is not cured within sixty days from the date the person is […]
435E-25 Voluntary termination of a member.
§435E-25 Voluntary termination of a member. A participating member who is then in full compliance with the trust agreement may elect voluntarily to terminate the participating member’s membership in the interindemnity arrangement. Upon voluntary termination, the person may further elect to cease being responsible for future assessments, or to continue to pay the assessments until […]
435E-26 Involuntary termination of a member.
§435E-26 Involuntary termination of a member. The board of trustees shall have the right to terminate the membership of a participating member where the board of trustees determines that such termination is in the best interests of the interindemnity arrangement even though such person has complied with all of the provisions of the trust agreement. […]
435E-27 Rights of members.
§435E-27 Rights of members. Each member participating in an interindemnity arrangement shall have the right of access to, and the inspection of, the books and records of the interindemnity arrangement, subject to reasonable regulation by the board of trustees. [L 1977, c 182, pt of §1]
435E-28 Meeting of members.
§435E-28 Meeting of members. There shall be a meeting of all members participating in the interindemnity arrangement, at least annually, after not less than ten days’ written notice has been given, at a location reasonably convenient to the participating members and on a date which is within a reasonable period of time following the distribution […]
435E-29 Termination.
§435E-29 Termination. The interindemnity arrangement, and the reserve trust fund incident thereto, shall be subject to termination at any time by the vote or written consent of not less than three-fourths of the participating members. [L 1977, c 182, pt of §1]
435E-31 Annual report, certificate of transmittal.
§435E-31 Annual report, certificate of transmittal. The board of trustees shall cause to be recorded with the commissioner within one hundred twenty days following the end of each fiscal year, a written statement, executed by a majority of the board of trustees under penalty of perjury, reciting that each member participating in the interindemnity arrangement […]
435E-15 Funds, investment.
§435E-15 Funds, investment. All funds held in trust which are in excess of current financial needs shall be invested and reinvested from time to time, under the direction of the board of trustees, in a manner consistent with the requirements of article 8 of chapter 412, or in certificates of deposits or time deposits issued […]
435E-16 Payments.
§435E-16 Payments. The income earned on the corpus of the trust fund shall be the source for the payment of the claims, costs, judgments, settlements, and costs of administration contemplated by such interindemnity arrangement, and to the extent such income is insufficient for such purposes, the board of trustees shall have the power and authority […]