                                 CODE OF VIRGINIA

PLAN OF OPERATION (§ 38.2-5017)

A. On or before September 30, 1987, the directors of the Program shall submit to
the State Corporation Commission for review a proposed plan of operation
consistent with this chapter.

B. The plan of operation shall provide for the efficient administration of the
Program and for the prompt processing of claims made against the Fund pursuant
to an award under this chapter. The plan shall contain other provisions
including:

   1. Establishment of necessary facilities;

   2. Management of the Fund;

   3. Appointment of servicing carriers or other servicing arrangements to
   administer the processing of claims against the Fund;

   4. Initial and annual assessment of the persons and entities listed in &#xA7;
   38.2-5020 to pay awards and expenses, which assessments shall be on an
   actuarially sound basis subject to the limits set forth in &#xA7; 38.2-5020;
   and

   5. Any other matters necessary for the efficient operation of the Program.

C. The plan of operation shall be subject to approval by the State Corporation
Commission after consultation with representatives of interested individuals and
organizations. If the State Corporation Commission disapproves all or any part
of the proposed plan of operation, the directors shall within thirty days submit
for review an appropriate revised plan of operation. If the directors fail to do
so, the State Corporation Commission shall promulgate a plan of operation. The
plan of operation approved or promulgated by the State Corporation Commission
shall become effective and operational upon order of the State Corporation
Commission.

D. Amendments to the plan of operation may be made by the directors of the
Program, subject to the approval of the State Corporation Commission.

HISTORY: 1987, c. 540; 1994, c. 872.