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INTERLOCAL AGREEMENT FOR GROUP SELF - INSURANCE FUND FOR <br />LIABILITY AND PROPERTY <br />RISK SHARING OR GROUP PURCHASE OF COVERAGE <br />This Agreement is made and eiatered into bit, and. between all the parties who are now or may. <br />hereafter become Members of this Joint Agency and join in a group fund for risk sharing and/or group <br />purchase of coverage, which Agency is acting by and through its Board of Trustees as provided <br />herein.. <br />ARTICLE 1. <br />PURPOSE <br />1. To carry out the desire of certain counties of the State of North Carolina to create and become <br />the North Carolina Counties Liability and Property Joint Risk Management Agency d.b.a. <br />NCACC Liability and Property Pool, hereafter called the Pool, and to enable these counties to <br />pool the retention of their risks, liabilities and/or payments, or for the group purchase of <br />coverage, pursuant to the provisions of North Carolina General Statutes 153A- 92(d), 153A- <br />445(a)(1) and 16OA -460 through 160A -464. <br />2. To create a Board of Trustees to direct ` the affairs of the Pool and to describe the <br />responsibilities of the Board. <br />3. To provide for the discharge,'from the assets of the Pool, and/or from funds collected from <br />self- funded members, and through excess or other insurance purchased by the Pool, of any. <br />a) insurance premiums, b) property losses incurred by any member of the Pool, and c) any <br />lawful liability claims against any member of the Pool which awards have been sustained by <br />final judgment where suit shall have been filed or by the rules of the Pool if settlement is made <br />before suit is filed. <br />4. To provide for payment by members of the Pool of contributions based upon appropriate <br />classifications, rates, experience modifications, or other methodologies, out of a portion of <br />which the Pool will establish and maintain a fund for the payment of covered claims, losses. <br />and the administrative costs of operating the Pool. <br />ARTICLE IL <br />EFFECTIVE DATE AND DURATION <br />Any member who formally applies for membership in this Pool and is accepted by the Board of <br />Trustees shall thereupon become a party to this Agreement and be bound by all of the terms and <br />conditions thereof, and such application shall constitute a part of this Agreement. The Agreement <br />shall remain in force until terminated by the Board of Trustees. <br />Interlocal Agreement Page 1 of 5 <br />Amended December 12, 2002 <br />