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Final May 19,2004 <br /> Article 11 <br /> 1 MEMBER TRANSIT SYSTEM RESPONSIBILITIES <br /> A. The Governing Board of each Member Transit System shall appoint a Director and at least one Alternate <br /> Director to the Board; <br /> B. Each Transit System shall appoint an employee of the Transit System to be responsible for the risk <br /> management function within that Transit System, and to serve as a liaison between the Transit System <br /> and the Pool as to risk management. <br /> C. Each Transit System shall maintain an active safety officer and/or committee, and shall consider all <br /> recommendations of the Pool concerning the development and implementation of a loss control policy to <br /> prevent unsafe practices; <br /> D. Each Transit System shall report all losses to the Pool to insure accuracy of the Pool's loss database; <br /> E. Each Transit System shall pay its premium and any readjusted amount promptly to the Pool when due. <br /> After withdrawal or termination, each Transit System shall pay promptly to the Pool it share of any <br /> additional premium and accrued interest; and, <br /> F. Each Transit System promptly shall provide the Pool with such other information or assistance as may <br /> be necessary for the Pool to carry out its responsibilities under this Agreement. <br /> Article 12 <br /> FINANCING <br /> A. Initial Premiums.After the effective date of this Agreement, but prior to the effective date of joint self- <br /> insurance, the Board shall adopt fair and reasonable coverage, initial premiums, precise cost allocation <br /> plans and formulae, the pro forma financial statement of the Pool and the amounts and types of excess <br /> insurance to be procured. The effective date of joint self-insurance shall be determined by the Board. <br /> B. Subsequent Premiums. Premiums shall be fairly and reasonably adjusted as determined by the Board <br /> after considering actuary studies at the end of the first year of operation and annually thereafter. <br /> C. Premium Payments. Member Transit Systems shall pay their premiums promptly when due, and <br /> reasonable interest on overdue payments. <br /> D. Initial Premium.The initial premium for each Member Transit System shall be determined by the Board <br /> in its discretion based upon a fair formula which may consider annual vehicle miles operated by the <br /> Member Transit System and annual passengers carried by the Member Transit System. <br /> 13 <br />