2005 Idaho Code - 41-4114 — BOARD OF TRUSTEES -- ADMINISTRATORS

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 41
              JOINT PUBLIC AGENCY SELF-FUNDED HEALTH CARE PLANS
    41-4114.  BOARD OF TRUSTEES -- ADMINISTRATORS. (1) The trust shall be
governed and managed by a board of trustees. This board  shall consist of
members elected by the governing boards of the member public agencies. The
composition and membership of the board shall be established in the joint
powers agreement between the members. The process and procedure for conducting
the election and determining the members shall be set forth in the joint
powers agreement establishing the plan, except that the election must be
conducted, completed and results certified by December 31 of each year in
which an election for members is conducted. Boards of joint public agency
self-funded plans existing as of July 1, 2006, shall be deemed to be in
compliance with the establishment requirements of this chapter but shall
conduct future elections in accordance with the requirements of this chapter.
    (2)  An individual, firm or corporation may be an administrator of a plan.
    (3)  The board shall cause all individuals handling receipts and
disbursements for the trust fund to be covered under a dishonesty insurance
policy or surety bond in an amount not less than ten percent (10%) of the
annual contributions to the plan or as the director may deem reasonably
advisable, issued by an insurer authorized to transact such insurance in this
state. This policy shall only be canceled upon giving no less than thirty (30)
days' notice to the board and to the director. The cost of the insurance shall
be borne by the trust fund. The amount of any policy or bond required under
this section shall be not less than twenty-five thousand dollars ($25,000) or
more than five hundred thousand dollars ($500,000).