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its annual agency budget and to make the necessary annual appropriations for all such <br />payments to BICEP. The obligations on the part of each Member herein contained shat <br />be deemed to be and shall be construed to be duties imposed by law and it shall be the <br />duty of each and every public official of each Member to take such action and do such <br />things as are required by law in the performance of the official duty of such officials to <br />enable each Member to carry out and perform its obligations herein. <br />4.1.2 The Participation Premium payments due in any Coverage Period shall <br />made in consideration for Coverage for such Coverage Period. The entire amount of <br />Participation Premium is due on the Premium Payment Date which shall be August 1 <br />each Fiscal Year. The determination of the Participation Premium payable in each <br />Coverage Period by each Member shall be made as soon as reasonably possible but <br />no later than the day before the renewal date preceding a Coverage Period. Each <br />Member shall be obligated to pay the Participation Premium which is determined as <br />follows: <br />4.1.2.1. Administrative Premium. Each Member shall pay to BICEP <br />as Administrative Premium such amounts as shall be required for the payment of all <br />administrative costs of BICEP including but not limited to, general management and all <br />other necessary administrative costs of BICEP or charges required to be paid by it in <br />order to administer the Program, if any. The Administrative Premium shall be equally <br />shared by each Member in the Program. <br />4.1.2.2. In a Coverage Period for which BICEP has purchased <br />insurance on behalf of each Member, each such Member shall be obligated to pay its <br />Allocated Costs which includes but is not limited to the premium for such insurance and <br />includes insurance brokerage fees and/or commissions. <br />4.1.3 At the end of a Coverage Year, insurers may audit each Member's payroll <br />which may result in refunds, credits or additional premium payable. <br />4.2 Common Premium Provisions to Members and Terminated Members <br />4.2.1. No Withholding. Notwithstanding any dispute between BICEP and a <br />Member or Terminated Member, including a dispute as to the scope or nature of <br />Coverage provided by insurers or for any other reason, each Member including a <br />Terminated Member shall appropriate funds sufficient to pay and shall make all <br />Participation Premium payments when due, including any audited payroll as provided in <br />Section 4.1.3 above, and shall not withhold any such payments pending the final <br />resolution of such dispute. <br />4.2.2. Payment of Invoices. BICEP invoices are to be paid within 30 days of <br />presentation to members unless another due date is specified on the invoice. <br />Workers' Compensation Program <br />01-21-06 <br />-3- <br />