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- 5 <br />g) Shall have responsibility to determine whether applicants for membership shall be <br />admitted to the Pool and whether existing members shall be suspended or expelled, <br />subject to the following limitations: <br />_(1) Only units of local goverment as defined by N.C.G.S. 160A- 460(2), and <br />institutions ,�or agencies in the State of North Carolina shall be eligible for <br />membership; and <br />(2) A member may be suspended or expelled` only after receiving sufficient notice <br />pursuant to the Participation Agreement or any policies, rules and regulations <br />_promulgated by the Board of Trustees; <br />h) Shall approve and monitor all loss control programs; <br />1) Shall execute agreement(s) designating Service Contractors) for the Pool and shall <br />agree upon the terms of fees to be paid to the Service Contractor(s) and shall have <br />sole responsibility to assess the performance of the Service Contractor(s), to review, . <br />negotiate and give final approval to any agreement(s) between the Pool and any <br />Service Contractor(s), and to have final selection of any Service Contractor(s); <br />j) Shall have authority to negotiate, execute and monitor any other contracts and <br />agreements necessary to effectuate this Interlocal Agreement; and <br />k) Shall bear sole responsibility for any dispositions out of the Pool by way of dividends or <br />distributions, if any, of accumulated reserves to the members of the Pool; and <br />1) Shall contract for and purchase excess or other insurance as deemed necessary to <br />safeguard the assets of the Pool. <br />ARTICLE V. <br />DESIGNATION DUTIES OF ADMINISTRATOR: DUTIES OF SERVICE CONTRACTOR( <br />1. The Association is hereby designated as the Administrator of the Pool unless and until <br />otherwise designated by the Board of Trustees. The Administrator shall supervise all other <br />Service Contractor(s). The Association shall deposit to the account of the Pool at any bank or <br />banks designated by the Board of Trustees, all contributions as collected, and such monies <br />shall be disbursed by the Administrator as provided by the policies, rules, regulations and <br />bylaws of the Board of Trustees, and the service agreement(s) with the Service Contractor(s). <br />2. The Service Contractor(s), under the supervision of the Board of Trustees and the Association, <br />shall be generally responsible for claims and general administration and loss control on behalf <br />of the members. The Service Contractor(s) shall assist the Board of Trustees in determining <br />all contributions due the Fund, prepare for payment all approved items of expense and claims, <br />and give a monthly accounting of all monies and claims so handled. The responsibilities and <br />duties of the Service Contractor(s) shall be more particularly defined and described in the <br />service agreement(s) executed with the Service Contractors). <br />3. For performing the servicing functions of the Pool, the Administrator and Service Contractor(s) <br />shall each receive a fee, which shall be negotiated with and approved by the Board of <br />interiocal Agreement Page 3 of 5 <br />Amended December 12, 2002 <br />