Laserfiche WebLink
t . <br /> f _ WASHINGTON STATE TRANSIT INSURANCE POOL I RISK MANAGEMENT IN MOTION <br /> iitraii <br /> r 2629 12th Court SW 1 Olympia,WA 98502 1 360-[888-1620 I www.wstip.oig <br /> Section 10. Amendment. <br /> a. The governing boards of the Members may adopt amendments to this agreement. <br /> b. No amendment shall be adopted without at least three-fourths affirmative vote of all <br /> governing boards. <br /> c. The Pool shall provide notice of any proposed amendment to the governing boards <br /> of the Members as specified in the bylaws. <br /> • <br /> Section 11. Duration. The duration of the Pool shall be perpetual. <br /> Section 12. Addition of New Programs. <br /> a. The Pool may establish self-insurance programs in addition to self-insurance <br /> programs for property and liability risks only with the affirmative vote of at least three- <br /> fourths of all representatives or alternates directors. <br /> b. No Member shall be required to participate in any such additional self-insurance <br /> program. <br /> c. If the Pool elects to establish such additional self-insurance programs, it shall <br /> implement adequate measures to protect and safeguard the equity and fiscal integrity <br /> of the Pool's self-insurance programs for liability and property. <br /> Section 13. Funding. <br /> a. The Pool shall be funded by Member contributions and assessments. <br /> b. Member contributions and assessments shall be established by the Board in its <br /> annual budget. If the Pool's financial situation warrants, the Board may require <br /> supplementary and retroactive contributions and assessments. <br /> c. All Members shall pay contributions, assessments, and fees promptly when due. <br /> Section 14. Withdrawal of a Member. <br /> a. A Member may withdraw from the Pool only at the end of a fiscal year by providing <br /> at least six month's written notice thereof. No Member may withdraw for thirty six <br /> months after joining the Pool. Following withdraw a former Member may not rejoin <br /> the Pool for thirty six months.. <br /> b. The withdrawal by a Member shall not affect the validity of this agreement with <br /> respect to the remaining Members. <br /> c. Upon withdrawal, a Member shall have no further obligations to the Pool nor shall it <br /> be entitled to any portion of the Pool's assets or equity; Provided, the withdrawing <br /> Member shall pay all of its pending contributions and assessments. <br /> Section 15. Termination of a Member. <br /> a. A Member may be terminated only by the affirmative vote of at 'east three-fourths of <br /> all representatives or alternates. The effective date of termination shall be six <br /> months following nonce of the termination vote. Until the effective date of <br /> termination, the terminated ,..9mber shall have the benefits and burdens of <br /> Dertcipat cn in the Fool. <br /> J <br /> 14 <br />