HARRY HUGHES, Governor

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(2) Borrow funds necessary to effect the purposes of
this subtitle in accord with the plan of operation.

(3) Sue or be sued.

(4) Negotiate and become a party to such contracts as
are necessary to carry out the purpose of this subtitle.

(5) Perform such other acts as are necessary or
proper to effectuate the purpose of this subtitle.

(6) Refund to the member insurers in proportion of
the contribution of each member insurer to that account that
amount by which the assets of the account exceed the liabilities
if, at the end of any calendar year, the board of directors finds
that the assets of the [Association] CORPORATION in any account
exceed the liabilities of that account as estimated by the board
of directors for the coming year.

509.

(a) (1) The [Association] CORPORATION shall submit to the
Commissioner a plan of operation and any amendments thereto
necessary or suitable to assure the fair, reasonable, and
equitable administration of the [Association] CORPORATION. The
plan of operation and any amendments thereto shall become
effective upon approval in writing by the Commissioner.

(2) If the [Association] CORPORATION fails to submit
a suitable plan of operation within 90 days following July 1,
1971, or if at any time thereafter the [Association] CORPORATION
fails to submit suitable amendment to the plan, the Commissioner
shall, after notice and hearing adopt and promulgate such
reasonable rules as are necessary or advisable to effectuate the
provisions of this subtitle. Such rules shall continue in force
until modified by the Commissioner or superseded by a plan
submitted by the [Association] CORPORATION and approved by the
Commissioner.

(b)  All member insurers shall comply with the plan of
operation.

(c)  The plan of operation shall;

(1) Establish the procedures whereby all the powers
and duties of the [Association] CORPORATION under § 508 will be
performed.

(2) Establish procedures for handling assets of the
[Association] CORPORATION.

(3) Establish the amount and method of reimbursing
members of the board of directors under § 507.