Section 323.12-A - Board.(a) Membership and purpose.--The membership of the Joint Underwriting Association Board is statutorily established. The board shall govern the operations of the association and shall consist of the following members:(1) Three members appointed by the Governor.(2) One member appointed by each of the following: (i) The President Pro Tempore of the Senate.(ii) The Minority Leader of the Senate.(iii) The Speaker of the House of Representatives.(iv) The Minority Leader of the House of Representatives.(b)Chair.--The Governor shall appoint the chair of the board from among the board members.(c)Term and vacancy.--A member of the board shall serve at the will of the member's appointing authority for a term of four years or until the member's successor has been appointed and is qualified. A vacancy on the board shall be filled by the same appointing authority as the outgoing member.(d)Quorum.--A majority of the members of the board shall constitute a quorum. The vote of a majority of the members attending a meeting of the board shall be required for all actions of the board.(e)Compensation.--Members of the board shall not be compensated for service as board members but shall be entitled to reimbursement of expenses under rules governing the reimbursement of expenses to Commonwealth executive agency personnel.(f)Executive director and administrative support.--The day-to-day operations of the board shall be managed by an executive director hired by the commissioner whose annual salary and other benefits of employment shall be determined by the commissioner. The department shall provide the board with other administrative support as the department, in consultation with the executive director, deems necessary and appropriate. The executive director and other staff hired to support the work of the board shall be considered Commonwealth employees.(g) Powers and duties.--The board shall administer the plan, decide all matters of policy and have authority to exercise all reasonable and necessary powers relating to the operation of the association. In furtherance of the board's powers and duties, the board may do all of the following:(1) Adopt bylaws and guidelines.(2) Appoint committees and retain experts and advisors, consultants and agents to render services as the board deems necessary to carry out the operations of the board and the association.(3) Enter into agreements and contracts as may be necessary for the administration of the plan and consistent with this act and the applicable provisions of the Mcare Act.(4) Develop rates, rating plans, rating and underwriting rules and standards, rate classifications, rate territories, policy forms and riders in accordance with applicable laws and subject to the commissioner's approval under sections 712(f) and 731(b)(2) and (4) of the Mcare Act.(5) Invest, borrow and disburse funds, budget expenses, levy assessments, receive contributions, reinsure liabilities of the association and perform all other duties necessary or incidental to the proper administration of the plan.(6) If the board deems it to be in the best interests of the policy holders and the Commonwealth, subject to the commissioner's approval, place a portion of the funds of the association in a restricted receipt account in the Treasury Department. The State Treasurer shall create a restricted receipt account at the request of the board. Money in the account is appropriated for the purposes required in the Mcare Act, this article and as may otherwise be directed by the board.(7) Authorize the executive director to participate in the scheduling conferences and other provisions of Article IX on behalf of the board. Added by P.L. TBD 2018 No. 41, § 3, eff. 7/23/2018.