2.__Body corporate.__The commission is a body corporate and politic and an instrumentality of the compacting states.

3.__Not for profit.__The commission is a not-for-profit entity, separate and distinct from the individual compacting states.

4.__Responsible for liabilities.__The commission is solely responsible for its liabilities except as otherwise specifically provided in the compact.

5.__Venue.__Proper and judicial proceedings by or against the commission must be brought solely and exclusively in a court of competent jurisdiction where the principal office of the commission is located.

§2475.__Powers of the commission -- Article 4

The commission has the power:

1.__Promulgate rules.__To promulgate rules, pursuant to section 2478, that have the force of law and are binding in the compacting states to the extent and in the manner provided in the compact;

2.__Uniform standards.__To exercise its rule-making authority and establish reasonable uniform standards for products and advertisements, which have the force of law and are binding in the compacting states, but only for those products filed with the commission.__A compacting state has the right to opt out of the uniform standard pursuant to section 2478 to the extent and in the manner provided in the compact.__A uniform standard established by the commission for long-term care insurance products may provide either the same or greater protections for consumers as, but may not provide less than, those protections set forth in the National Association of Insurance Commissioners' Long-term Care Insurance Model Act and Long-term Care Insurance Model Regulation, adopted by the National Association of Insurance Commissioners as of 2001. The commission shall consider whether any subsequent amendments to the National Association of Insurance Commissioners' Long-term Care Insurance Model Act or Long-term Care Insurance Model Regulation adopted as of 2001 by the National Association of Insurance Commissioners require the amendment of the uniform standards established by the commission for long-term care insurance products;