10103125D Be it enacted by the General Assembly of Virginia: 1. That §38.2-1874 of the Code of Virginia is amended and reenacted as follows: §38.2-1874. Continuing education program; plan of operation; approval by Commission. A. The Board shall submit to the Commission a plan of operation that provides for the fair and nondiscriminatory administration of the continuing insurance education program established pursuant to this article. Such plan shall not become effective until approved by the Commission in writing. The Board may, at any time, propose amendments to the plan of operation, and such amendments shall not become effective until approved by the Commission. The plan of operation shall: 1. Establish guidelines for the Board to utilize in adopting procedures for exercising its powers and duties; 2. Establish guidelines for the Board to utilize in adopting procedures for handling the assets of the continuing insurance education program; 3. Establish guidelines for reimbursing members of the Board for the necessary expenses incurred in the performance of their official duties and for indemnifying members for all expenses and liabilities incurred as a result of their serving as members of the Board; 4. Establish guidelines for determining places and times for meetings of the Board; 5. Establish guidelines for adopting procedures for records to be kept of all financial transactions of the Board and administrator; 6. Establish procedures for the election of Board officers; 7. Establish guidelines pursuant to which the Board may adopt
a reasonable means whereby any person aggrieved by an action of the Board or
administrator 8. Contain guidelines for the Board to utilize in adopting additional provisions necessary or proper for the execution of the powers and duties of the Board including but not limited to (i) program requirements and approved programs of study; (ii) qualifications and responsibilities of course instructors; (iii) management and record-keeping responsibilities; (iv) fee schedules and filing requirements; and (v) course refund policies and procedures. B. If the Commission disapproves all or any part of the
proposed plan of operation or amendment thereto, the Board shall within C. A regular meeting of the Board shall be held at least
annually at such time, date, and place approved by the Board. Special meetings
may be called at any time by the chairman. Notices of all regular and special
meetings shall be sent to each person serving as a representative on the Board
or a subcommittee of the Board and to the Commission. Each notice shall state
the purpose of the meeting and include any proposed changes in rules or
procedures. Any such meeting notices shall be given in such form as may be
acceptable to the Board at least D. The books of account, records, reports and other documents of the Board and its administrator shall be open to the Commission for examination at all reasonable hours. E. There shall be no liability on the part of and no cause of action shall arise against any member of the Board, the Board, the Board's agents or employees, or the Commission or its representatives for any action taken or statement made by them in good faith in the performance of their powers and duties under this article. |