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rwai may I ,LUV4 <br /> 13 Article 5 <br /> MEMBERSHIP COMPOSITION <br /> Pool membership shall be limited to the several Transit Systems of the State of Washington and shall not <br /> include other local governmental entities.The Board of Directors of the Pool shall provide for the reasonable <br /> admission of new Member Transit Systems. new members shall pay a reasonable share of the organizational <br /> expenses of the Pool and the costs necessary to analyze their loss expenses of the Pool and the costs necessary to <br /> analyze their loss data and determine their premiums, as determined by the Board of Directors. <br /> Article 6 <br /> NATURE OF THE POOL <br /> Nature. The Pool shall be a joint purchasing group made up of Member Transit Systems. All income and <br /> assets of the Pool, including surplus funds, shall be at all times dedicated to the exclusive benefit of its members. <br /> Article 7 <br /> POWERS OF THE POOL <br /> The Pool shall have the powers and functions to do the following: <br /> A. All the powers common to Member Transit Systems to implement the terms of this Agreement and to do <br /> all acts necessary for the exercise of such common powers, including but not limited to, any and all of the <br /> following: <br /> 1) To make and enter contracts; <br /> 2) To incur debts, liabilities or obligations; <br /> 3) To sue and be sued in its own names; and, <br /> 4) To exercise all powers necessary and proper to carry out the terms and provisions of this Agreement, <br /> or otherwise authorized by the By-Laws. <br /> B. Power to contract or otherwise provide for risk management and loss control services. <br /> C. Power to contract or otherwise provide legal counsel for the defense of claims and/or other legal services; <br /> D. Power to consult with the Washington State Insurance Commissioner and State Office of Risk <br /> Management. <br /> E. Power to jointly purchase insurance coverage in such form and amount as the Board of Directors may <br /> determine; <br /> F. Power to establish a non-profit corporation if such organization is determined to be in the best interest of <br /> the Pool by the Board; and, <br /> G. Power to exercise any other powers and perform all other functions reasonably necessary to carry out the <br /> purposes of Chapter 48.62 RCW. <br /> 139 <br />