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<br />(a) Withdrawal is prohibited if the Participating Member has not participated in the <br />Pool continuously for a minimum of one (1) complete Policy Year or if there are <br />outstanding Premiums or assessments owed by the Member. <br />(b) The Board shall notify the Commissioner under any circumstances in which the <br />violation of the minimum <br />annual Premium requirement as outlined in Section 8.2.2 herein or would <br />nancial integrity. <br />(c) Withdrawal is generally irrevocable upon receipt of the notice by the Board of <br />Trustees. However, the Board may reject <br />is contrary to applicable law or revoke it at the request of the Member. <br />(c) The Pool shall pay eligible claims incurred by Covered Persons prior to the <br />effective date of withdrawal Run Out Cprovided such claims are <br />presented to the Pool, or its designee, within 180 days after the effective date of <br />the withdrawal. The withdrawing Member shall be responsible for any claims <br />incurred after the effective date of the withdrawal and any Run Out Claims <br />submitted to the Pool after the 180-day period ends. <br />4.7.2 Expulsion. No less than annually, the Board of Trustees shall review each Participating <br />status and experience to determine whether they meet any criteria for <br />expulsion. Expulsion is subject to the requirements for voluntary withdrawal above <br />except that a Member may be expelled with outstanding Premiums or assessments owing <br />and regardless of whether the minimum membership commitment has been satisfied, if <br />applicable. Criteria for expulsion include: <br />(a) Failure to remit any Premium, assessment, or penalty in the amount required by <br />the date due; <br />(b) Failure to comply with this Agreement and Bylaws, a delegation of authority from <br />the Board, Board policies and procedures, or applicable laws and rules; <br />(c) Failure to performother assigned obligations with respect to the Pool or any Plan; <br />(d) Failure to satisfy the standards of financial integrity adopted by the Board; or <br />(e) Other action or failure to act which the Board of Trustees determines to be <br />detrimental to the interests of the Pool or any Plan. <br />4.7.3 Member Interest in Surplus Following Withdrawal or Expulsion. A Member that <br />withdraws or is <br />ARTICLE V. ADOPTION AND AMENDMENT OF BYLAWS <br />5.1 Adoption. This combined Membership Agreement and Bylaws is intended to describe the <br />purpose, governance, and operations of the Pool, and to satisfy applicable Minnesota statutes <br />and rules. The Agreement shall be adopted, in writing, by resolution of the governing bodies of <br />each Members. <br />Page 10 of 24 <br /> <br /> <br />