BICEP BIG INDEPENDENT CITIES EXCESS POOL 3-2006

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7.1.3 A Member shall have paid all fees and expenses incurred by BICEP as a such withdrawal. 7.1.4 A Member's withdrawal shall be effective on the first day of a new Coverage of 7.2 The distribution to a Member of assets of BICEP upon withdrawal shall be in accordance with the terms and conditions for such distribution as provided in the Risk Management P ogram in which a Member participates. 7.3 A Member that is not participating in any Risk Management Program shall be dee(ned to have withdrawn from BICEP. ARTICLE VIII EXPULSION OF MEMBER 8.1 Conditions to permitting expulsion of a Member from Coverage. BICEP may expel a Member from Coverage subject to the following conditions: 8.1.1 A Member shall be in default under these Bylaws, the Memorandum, or Risk Management Program and shall have failed to cure such default in accordance with the pro isions of Article X, below; 8.1.2 The Board, by not less than two-thirds (2/3rds) vote of the Members, exclud ng the Member in default, shall have approved such expulsion and written notice of the final a tion of expulsion shall have been given to the Member not less than sixty (60) days precedi g the effective date of such expulsion; 8.2 In the event that BICEP elects to expel any defaulting Member, subject to the co ditions described and in the manner provided in Section 8.1 hereof, the Member nevertheless ag ees to pay to BICEP all cost, losses or damages howsoever arising or occurring as a result f such default. In no event shall expulsion waive or release such defaulting Member from its o going obligations assumed during its years of participation in BICEP prior to the effective ate of expulsion. 8.3 The distribution to a Member of assets of BICEP upon expulsion shall be in ac with the terms and conditions for such distribution as provided in the Risk Management in which a Member participates. Bylaws 05-31-06 ram 9