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Final May 19,2004 <br /> 1 3 <br /> Article 13 <br /> JOINT SELF-INSURANCE <br /> A. Self-Insurance. The Pool shall provide joint self-insurance coverage for: <br /> 1) Property owned or possessed by its member Transit Systems; <br /> 2) Liability claims arising from the negligent or other tortious conduct of member Transit Systems, their <br /> officers, employees or agents, or any error or omission on the part of member Transit Systems, <br /> their officers, employees or agents. <br /> 3) The Pool may obtain excess insurance or reinsurance or join in other risk sharing pools. Joint self- <br /> insurance coverage shall be subject to exclusions and limitations determined by the Board. <br /> B. Contingent Liabilities and Retroactive Assessments. Pursuant to RCW 48.62.060, each Member Transit <br /> System shall have contingent liability for the liabilities of the Pool in the event the assets of the Pool are <br /> not sufficient to cover its liabilities. Deficits of the Pool shall be financed through fair and reasonable <br /> retroactive assessments levied against each Member Transit System as determined by the Board. <br /> Retroactive assessments shall be added to the annual premiums. <br /> C. Liability Limitation. It is understood and agreed that in the event a liability obligation exceeds the limit of <br /> insurance coverage provided by the Pool, such remaining obligation shall be the responsibility of the <br /> applicable Member Transit System and shall not be the responsibility of the Pool nor any other Pool <br /> Transit System. <br /> Article 14 <br /> SUBROGATION <br /> In the event the Pool pays any claim on behalf of a Member Transit System, the Pool shall be subrogated to <br /> the extent of such payment to all the rights of the Member Transit System against any person or other entity legally <br /> responsible for damages arising under the claim. Member Transit Systems shall render all reasonable assistance, <br /> to effect recovery on the subrogated claim. <br /> Article 15 <br /> CANCELLATION AND WITHDRAWAL <br /> A. Cancellation.A Member Transit System's participation in this Agreement and the Pool may be canceled at <br /> any time by an affirmative vote of three-quarters of the entire board. The effective date of cancellation shall <br /> be six months after the date of Board action. Until the effective date, the canceled Member Transit System <br /> shall benefit from the pool's services. <br /> 133 <br />