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<br />coverage approved by the Commissioner covering losses from dishonesty, robbery, <br />forgery or alteration, misplacement, or mysterious or unexplainable disappearance. The <br />amount of coverage for each occurrence shall be $300,000 or more. The Pool shall <br />purchase a fidelity bond or policy of insurance coverage approved by the Commissioner <br />covering the required service providers and individuals or submit to the Commissioner <br />separate proof of coverage for all required service providers and individuals not covered <br /> or applicable insurance coverage. <br />9.1.6 Separate Accounts. The Board of Trustees may, but shall not be required to, establish <br />separate accounts for the payment of claims or certain types of expenses. The accounts <br />shall be used only by the Service Company, its authorized subcontractors, or the Financial <br />Administrator, as appropriate The amount in these separate <br />accounts shall not exceed an amount reasonably sufficient to pay the claims or expenses <br />for which the account is established. All monetary and investment assets not in such <br /> <br />9.1.7Maintenance of Sound Financial Condition. The Board of Trustees shall regularly monitor <br />es, expenses, and loss development, and evaluate its current and <br />expected financial condition. <br />(a) If necessary, the Board shall attempt, in good faith, to maintain or restore the <br />disposal, including, but <br />not limited to, adjusting premium rates, underwriting standards, dividend rates, <br />expulsion standards, and other powers granted by applicable Minnesota law or <br />rulesand this Agreement and Bylaws. <br />(b) financial <br />condition, the Commissioner shall, as appropriate, order an increase in premium <br />-insurance authority pursuant to Section 12.3.2 <br />herein, or order than an assessment be levied against Participating Members <br />under Section 9.5 herein. <br />9.2 Reporting. <br />9.2.1 Financial Statements. The Board of Trustees shall prepare annual financial statements <br />containing a statement of net position; statement of revenues, expenses, and changes in <br />net position; and a statement of cash flows. Such statements: <br />(a) Shall be filed with the Commissioner no later than 60 days after the end of the <br />; and <br />(b) Shall be audited by an independent certified public accountant, who shall submit <br />a report to the Commissioner within 180 days of . <br />(c) Every second annual financial statement shall be accompanied by a statement <br />from a qualified actuary concerning the statement of net position items that are <br />statement and the scope of their review shall comply with <br />instructions. <br />Page 15 of 24 <br /> <br /> <br />