Orange County NC Website
Browse       Search
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 />