LD 1698
pg. 9
Page 8 of 22 PUBLIC Law Chapter 680 Page 10 of 22
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LR 2485
Item 1

 
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.

 
A.__The management committee consists of no more than 14
members as follows:

 
(1)__One member from each of the 6 compacting states
with the largest premium volume for individual and
group annuities and life, disability income and long-
term care insurance products, determined from the
records of the National Association of Insurance
Commissioners for the prior year;

 
(2)__Four members from those compacting states with at
least 2% of the market based on the premium volume
described in subparagraph (1) other than the 6
compacting states with the largest premium volume,
selected on a rotating basis as provided in the bylaws;
and

 
(3)__Four members from those compacting states with
less than 2% of the market based on the premium volume
described in subparagraph (1) with one selected from
each of the 4 zone regions of the National Association
of Insurance Commissioners as provided in the bylaws.

 
B.__The management committee has such authority and duties
as may be set forth in the bylaws, including, but not
limited to:


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