Section 404-G:3 - Association's Powers And DutiesI. The association shall be a not-for-profit, voluntary corporation formed under RSA 292 and shall possess all powers as derive from that status and such additional powers and duties as are approved by the commissioner or as specified in this chapter.II. The board of directors of the association shall have the following general powers: (a) Enter into contracts and retain such vendors or administrators, with or without a competitive bidding process in the discretion of the board of directors, as necessary or proper to administer the plan of operation.(b) Sue or be sued, including taking any legal action necessary or proper for the recovery of any assessments for, on behalf of, or against members of the association, assessable entities, or other participating person.(c) Retain appropriate legal, actuarial, and other persons as necessary to provide technical assistance in the operation of the plan, policy development, and other program design and in any other function within the authority of the plan of operation. (d) Borrow money and/or establish reserve funds to carry out the plan of operation and protect against unexpected or unforeseeable expenses and losses.(e) Adopt bylaws, which may be amended from time to time, to establish additional procedural and governance provisions of the association, which provisions shall not be inconsistent with the provisions of this chapter.(f) Perform any other functions within the authority of the association as may be necessary or proper to carry out the plan of operation. ]
III. The board of directors of the association shall have the following duties: (a) Fulfill the plan of operation as approved by the commissioner.(b) Determine and collect assessments from assessable entities as provided in RSA 404-G:5-a and in the plan of operation. (c) Disburse assessment payments, as provided in the plan of operation for the high risk pool. IV. Neither the association nor its employees or agents shall be liable for any obligations of the plan. No member or employee of the association shall be liable, and no cause of action of any nature may arise against them, for any act or omission related to the performance of their powers and duties under this chapter unless such act or omission constitutes willful or wanton misconduct. The association may provide in its bylaws or rules for indemnification of, and legal representation for, its members, employees, and agents.Amended by 2023, 92:2, eff. 1/1/2024.1998, 340:6. 2001, 295 : 7 . 2010, 243 : 5 , eff. July 1, 2010.