LD 1698
pg. 6
Page 5 of 22 An Act To Join the Interstate Insurance Product Regulation Compact Page 7 of 22
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LR 2485
Item 1

 
12.__Employees; professionals; specialists.__To hire employees,
professionals or specialists and elect or appoint officers and to
fix their compensation, define their duties and give them
appropriate authority to carry out the purposes of the compact and
determine their qualifications.__To establish the commission's
personnel policies and programs relating to, but not limited to
conflicts of interest, rates of compensation and qualifications of
personnel;

 
13.__Accept donations.__To accept any and all appropriate
donations and grants of money, equipment, supplies, materials and
services and to receive, utilize and dispose of the same,
striving to avoid any appearance of impropriety;

 
14.__Hold property.__To lease, purchase, accept appropriate
gifts or donations of or otherwise to own, hold, improve or use
any property, real, personal or mixed, striving at all times to
avoid any appearance of impropriety;

 
15.__Sell property.__To sell, convey, mortgage, pledge, lease,
exchange, abandon or otherwise dispose of any property, real,
personal or mixed;

 
16.__Filing fees.__To remit filing fees to compacting states
as may be set forth in the bylaws, rules or operating procedures;

 
17.__Enforce compliance.__To enforce compliance of compacting
states with rules, uniform standards, operating procedures and
bylaws;

 
18.__Provide for dispute resolution.__To provide for dispute
resolution among compacting states;

 
19.__Advice relating to business in noncompacting
jurisdictions.__To advise compacting states on issues relating to
insurers domiciled or doing business in noncompacting
jurisdictions, consistent with the purposes of the compact;

 
20.__Advice and training.__To provide advice and training to
those personnel in state insurance departments responsible for
product review and to be a resource for state insurance
departments;

 
21.__Establish budget.__To establish a budget and make
expenditures;

 
22.__Borrow money.__To borrow money;


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