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professional or (ii) otherwise must be able to demonstrate a sound risk <br />program. <br />4.1.3 The public agency shall have an active loss control program. <br />4.1.4 Anew Member's participation in a coverage program of BICEP shall be subje to an <br />actuarial study of loss experience to compare with current Members to se if the <br />new Member's participation would adversely affect the actuarial soundnes of a <br />BICEP program. <br />4.1.5 The recommendation of BICEP's insurance broker. <br />4.1.6 Submission of reasonably required information including but not limited to, <br />financial statements, underwriting data, claims and loss reports. <br />4.2 Acceptance of New Member. <br />Acceptance of a new Member shall be approved by a vote of two-thirds (2/3rds) of all <br />Members of the Board. <br />4.3 Condition to Acceptance. <br />Acceptance of a new Member shall be subject to the approval and execution of the Joint Powers <br />Agreement, as it may be amended from time to time, by such Member's governing bo~{y and <br />agreement to be bound by these Bylaws. <br />ARTICLE V <br />COVERAGE ACCEPTANCE <br />5.1 BICEP hereby agrees to provide the Coverage to each Member, and each Member ereby <br />agrees to accept the Coverage, in accordance with these Bylaws and upon the term and <br />conditions set forth in the Memorandum and/or Insurance purchased for Members in accor ance <br />with each Risk Management Program in which a Member participates. <br />5.2 The Board shall annually determine each type of Risk Management Program which ICEP <br />may provide for Coverage, or for a portion of Coverage, to the Members. Each suc Risk <br />Management Program shall provide for appropriate levels of self-insured retention, risk s aring <br />and the purchase of Insurance from a commercial insurer or reinsurer, as determine and <br />approved by the Board. The Board may determine to suspend the Memorandum and acc pt the <br />policy of Insurance as the basis for liability coverage by the approval of a "reverse following f rm." <br />5.3 Coverage provided to each Member is expressly conditioned on that Member's pay ent of <br />applicable premiums related to the Risk Management Program in which the Member particip tes. <br />Bylaws <br />OS-31-O6 <br />7 <br />