Ga. Comp. R. & Regs. R. 120-2-14-.05 - Duties of Governing Committee
(1) The Committee shall meet at least twice
per year and as often as may be required to perform the duties of
administration of the Plan. The Committee will be empowered and shall appoint a
manager, budget expenses, levy assessments, disburse funds and perform all
duties essential to the proper administration of the Plan.
(2) Annually, the Manager shall prepare an
operating budget in the prescribed manner for submission to the Committee. Such
budget shall be approved by the Committee and furnished to the subscribers on
request. Any expenditure in excess of or not included in the annual budget
shall be approved by the Committee.
(3) Upon request, the Committee will furnish
to any subscriber a written annual report of operations of the Plan in such
form and detail as the Committee may determine.
(4) The Committee shall file with the
Commissioner a manual including rates and manual rules in such detail as may be
necessary for distribution and processing of automobile insurance applications
received from applicants, the contents of such manual being known as the
Plan.
(5) The Committee shall file
necessary and suitable amendments to the Plan as required for the continued
effective operation of the Plan.
(6) The Commissioner shall, within thirty
(30) days of receipt of a filing as required in paragraphs (4) or (5) above,
approved or disapproved such filing, provided, however, the Commissioner may
extend by not more than thirty (30) days the period within which he may approve
or disapprove the filing by giving written notice to the Committee of the
extension before the expiration of the initial thirty-day period.
(7) If the Committee fails to submit an
acceptable Plan within thirty (30) days of the effective date of this
Regulation, or if at any time fails to submit necessary or suitable amendments
thereto, the Commissioner shall, after consultation with insurance companies
authorized to issue automobile policies in this State and after notice and
hearing, adopt and promulgate such reasonable Plan as is necessary or advisable
to effectuate the provision of this Regulation.
Notes
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