D.C. Mun. Regs. tit. 26, r. 26-A1306

Current through Register Vol. 71, No. 49, December 6, 2024
Rule 26-A1306 - ANNUAL AND SPECIAL MEETINGS OF MEMBERS OF THE FACILITY
1306.1

There shall be an annual meeting of Members, on a date fixed by the Board, for the election of directors and for such other business as may be necessary.

1306.2

Special meetings of the Members may be called by the Board on its own motion or upon the written request to the Board by any ten (10) Members, no two (2) of which shall be in the same group of insurers with respect to management or ownership.

1306.3

Written notice of the annual or any special meeting, stating the time and place and the matters to be considered, shall be given to all Members at least ten (10) days in advance of each meeting.

1306.4

Notice, in the case of a special meeting, shall be accompanied by the agenda for such meeting and such supporting data and information as may be assembled by the Board. No matter may be considered at any special meeting that has not been included in the agenda.

1306.5

At any annual or special meeting, Members representing at least fifty-one percent (51%), of the aggregate Premiums Written by Members of the Facility, based on the most recent available data, shall constitute a quorum. Members may be represented by proxy.

1306.6

Voting on matters requiring a vote by the Members, including amendment to the Constitution or termination of the Facility, shall be weighted in accordance with the Premiums Written by each Member as determined from the most recent available data.

1306.7

A proposal, other than for the election of directors, shall be considered adopted by the Members when approved by at least two-thirds (2/3) of the votes cast on the weighted basis described in subsection 1306.6.

1306.8

Any matter subject to vote by the Members may be proposed and voted upon by mail, facsimile or electronic communication, provided such procedure is authorized by a majority of the Board.

D.C. Mun. Regs. tit. 26, r. 26-A1306

Final Rulemaking published at 51 DCR 11573 (December 24, 2004)