Pub. L. 93-89, tit. I, sec. 108

Sec. 108. (a) (1) The Board shall submit to the Commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the Association. The plan of operation and any amendments thereto shall become effective upon approval in writing by the Commissioner. (2) If the Board fails to submit a suitable plan of operation within ninety days following the effective date of this title or if at any time thereafter the Board fails to submit suitable amendments to the plan, the Commissioner shall, after notice and hearing, adopt and promulgate such reasonable rules as are necessary or advisable to effectuate the provisions of this title. Such rules shall continue in force until modified by the Commissioner or superseded by a plan submitted by the Board and approved by the Commissioner. 87 Stat. 300 (b) All member insurers shall comply with the plan of operation. (c) The plan of operation shall— (1) establish the procedures whereby all the powers and duties of the Association under section 107 will be performed ; (2) establish procedures for handling assets of the Association ; (3) establish the amount and method of reimbursing members of the Board under section 106 ; (4) establish procedures by which claims may be filed with the Association and establish acceptable forms of proof of covered claims ; (5) establish regular places and times for meetings of the Board; (6) establish procedures for records to be kept of all financial transactions of the Association, its agents, and the Board ; (7) provide that any member insurer aggrieved by a final action or decision of the Association may appeal to the Commissioner within thirty days after the action or decision ; (8) establish the procedures whereby selections for the Board will be submitted to the Commissioner ; and (9) contain additional provisions necessary or proper for the execution of the powers and duties of the Association. (d) The plan of operation may provide that any or all powers and duties of the Association, except those under subsections 107 (a) (3) and (c)(2), are delegated to a corporation, association, or other organization which performs or will perform functions similar to those of this Association, or its equivalent, in two or more States. Such a corporation, association, or organization shall be reimbursed as a servicing facility would be reimbursed and shall lie paid for its performance of any other functions of the Association. A delegation under this subsection shall take effect only with the approval of both the Board and the Commissioner, and may be made only to a corporation, association, or organization which extends protection in a manner substantially similar to that provided by this title. (e) Notice of claims to the receiver or liquidator of the insolvent insurer shall be deemed notice to the Association or its agent and a list of such claims shall be periodically submitted to the Association or similar organization in another State by the receiver or liquidator.