D.C. Mun. Regs. tit. 26, r. 26-A1310

Current through Register Vol. 71, No. 49, December 6, 2024
Rule 26-A1310 - PLAN OF OPERATION
1310.1

The revised Plan of Operation, which was approved by the Commissioner and deemed effective as of April 1, 2004, replaces the prior Plan of Operation that had been effective as of October 1, 1972, as amended, provides that the Plan of Operation shall remain effective to complete all unfinished business in progress and until such time as all liability has ceased, claims are settled and final settlement has been made with respect to insurance written pursuant to the Plan of Operation.

1310.2

The Facility is authorized to issue policies or certificates of insurance on risks in a form where each Member of the Facility shall be a direct insurer hereunder in such proportion as its Premiums Written bear to the total Premiums Written of all Members.

1310.3

Liability of each Member shall be several, each of itself, and not joint, and no Member shall be liable under any such policy or certificate for the liability of any other Member, except as otherwise provided in this chapter.

1310.4

Members of the Facility shall be deemed to have authorized the manager of the Facility to act as attorney-in fact for all Members to execute policies on behalf of the Member companies.

1310.5

Any policy or certificate of insurance issued pursuant to this section shall be executed on behalf of the participating Members by any attorney-in-fact appointed.

1310.6

The attorney-in-fact shall pay, on behalf of such Members, premium and other taxes related to Facility business on terms and conditions agreeable to the taxing authority involved.

1310.7

In the event of death, resignation or incapacity of said attorney-in-fact to act, the Board shall nominate a successor.

1310.8

No policy or certificate of insurance shall be affected or invalidated by any change of the attorney-in-fact who, at the time the policy or certificate of insurance was issued, shall have duly acted pursuant to the powers vested in him or her.

D.C. Mun. Regs. tit. 26, r. 26-A1310

Final Rulemaking published at 48 DCR 4663(May 25, 2001); as amended by Final Rulemaking published at 51 DCR 11573 (December 24, 2004)