LD 1698
pg. 8
Page 7 of 22 An Act To Join the Interstate Insurance Product Regulation Compact Page 9 of 22
Download Bill Text
LR 2485
Item 1

 
(i)__For the establishment and meetings of other
committees; and

 
(ii)__Governing any general or specific delegation of
any authority or function of the commission;

 
D.__Providing reasonable procedures for calling and
conducting meetings of the commission that consist of a
majority of commission members, ensuring reasonable advance
notice of each meeting and providing for the right of
citizens to attend each meeting with enumerated exceptions
designed to protect the public's interest, the privacy of
individuals and insurers' proprietary information, including
trade secrets.__The commission may meet in camera only after
a majority of the entire membership votes to close a meeting
in whole or in part.__As soon as practicable, the commission
shall make public a copy of the vote to close the meeting
revealing the vote of each member with no proxy votes
allowed and votes taken during the meeting;

 
E.__Establishing the titles, duties, authority and
reasonable procedures for the election of the officers of
the commission;

 
F.__Providing reasonable standards and procedures for the
establishment of the personnel policies and programs of the
commission.__Notwithstanding any civil service or similar
laws of any compacting state, the bylaws exclusively govern
the personnel policies and programs of the commission;

 
G.__Promulgating a code of ethics to address permissible and
prohibited activities of commission members and employees;
and

 
H.__Providing a mechanism for winding up the operations of
the commission and the equitable disposition of any surplus
funds that might exist after the termination of the compact
after the payment or reserving of all of its debts and
obligations.

 
4.__File bylaws with compacting states.__The commission shall
publish its bylaws in a convenient form and file a copy of the
bylaws and a copy of any amendment to the bylaws with the
appropriate agency or officer in each of the compacting states.

 
5.__Management committee.__The commission shall establish a
management committee.


Page 7 of 22 Top of Page Page 9 of 22