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shall be submitted in writing to the Director of Risk Management Services within thirty (30) days <br />of the challenged decision or action. <br />13. In the interest of providing effective governance, the Member, or at least one of its budgetary <br />contributors, must be a member of the North Carolina Association of County Commissioners <br />(hereinafter "Association "). <br />14. The Association is designated as the Administrator of the Risk Pool unless otherwise designated <br />by the Board of Trustees. As detailed further in the Service Agreement between the Risk Pool <br />and Association, the Administrator supervises all other service contractor(s), deposits all <br />contributions as collected to the bank account(s) designated by the Board of Trustees, and <br />disburses monies as provided by the policies, rules, regulations and Bylaws of the Board of <br />Trustees, and in compliance with the Service Agreement(s) executed with the service <br />contractor(s). <br />15. In its discretion, the Board of Trustees shall determine and may modify the timing of payments <br />made by Members and the amount of Member contributions to maintain the soundness and <br />financial security of the Risk Pool. <br />16. A certified public accounting firm shall audit the Risk Pool annually and report to the Board of <br />Trustees as detailed in the Bylaws. The Risk Pool retains the right to audit and review a <br />Member's financial and business records relevant to the subject matter of this Agreement or any <br />dispute regarding this Agreement. <br />17. Notice: Any written notice to the Risk Pool shall be made by first class mail, postage prepaid, <br />and delivered to the Director of Risk Management Services, North Carolina Association of <br />County Commissioners, 215 N. Dawson Street, Raleigh, NC 27603. <br />ARTICLE IV. AMENDMENTS <br />The Board of Trustees is authorized to make any changes or amendments to this Agreement that <br />would not fundamentally alter the substance of the contemplated Agreement. This Agreement may be <br />substantively amended after adoption of this Agreement by the Members by either 1) approval of the <br />specific amendment by the Board of Trustees and approval in writing by a simple majority of the <br />Members, or 2) approval of the Board of Trustees of a revised Agreement and subsequent <br />presentation to Members for execution of a new Resolution during the renewal period. <br />ARTICLE V. SEVERABILITY AND CHOICE OF LAW <br />This Agreement shall be governed by the laws of the State of North Carolina. The Members and the <br />Risk Pool agree that in the event there is a disagreement between them regarding this Agreement, or <br />its terms, any legal action shall be filed in the General Court of Justice, Superior Court Division, Wake <br />County, North Carolina. The Members and the Risk Pool agree that the terms of this Agreement are <br />contractual and not a mere recital, and that its provisions are severable in nature such that if any <br />particular provision is stricken by a Court of competent jurisdiction, no other provision will be affected. <br />IN WITNESS WHEREOF, the undersigned signify their acceptance of this Agreement by executing <br />this Resolution by action of the Board of Commissioners or other Governing Board: <br />Interlocal Agreement Page 4 of 6 <br />Amended December 2009 <br />