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may become a "Member" hereof by executing a copy ofthis Agreement whereby said agency agrees to <br /> comply with the terms of this Agreement, the Bylaws, and the Memorandum of Coverage. This <br /> Agreement shall be binding upon the agency effective as of the date of such execution. <br /> E. Each "Member" shall be subject to a retained limit per occurrence for "Workers' Compensation <br /> Excess' as selected by the "Party' and approved by the Board of Directors. <br /> F. Each "Member' participating in a program year with funds in excess of its obligation shall have a right <br /> to a portion of such funds pursuant to the Bylaws. Each "Member" participating in a program year <br /> with obligations in excess of the funds for that program year shall be obligated to pay any assessments <br /> charged by the Authority pursuant to the Bylaws. <br /> 8. WITHDRAWAL FROM OR TERMINATION OF MEMBERSHIP <br /> A. Any "Party' to this Agreement which has been a "Party' of the Authority for at least three (3) full <br /> program years may voluntarily terminate this Agreement as to itself and withdraw from membership in <br /> the Authority. Such termination and withdrawal of membership shall become effective subject and <br /> according to the conditions. manner, and means set forth in the Bylaws. <br /> B. A "Party" may be involuntarily terminated from the Authority upon a two - thirds (2/3) weighted vote of <br /> the other "Parties" to this Agreement. <br /> C. Withdrawal or termination of a "Party' shall not absolve such "Party" of liabilities arising out of <br /> participation in a program. <br /> 9. TERMINATION OF AGREEMENT <br /> This Agreement may be terminated effective at the end of any fiscal year by a three - fourths (3/4) weighted vote <br /> of the "Parties" present at a Board of Directors meeting, provided, however, that the Authority and this <br /> Agreement shall continue to exist for the purpose of disposing of all claims, distribution of assets, and all other <br /> functions necessary to conclude the affairs of the Authority. <br /> 10. DISPOSITION OF PROPERTY AND FUNDS <br /> A. In the event of the dissolution of the Authority, the complete recision, or other final termination ofthis <br /> Agreement by the agencies then a "Party" hereto. any property interest remaining in the Authority <br /> following a discharge of all obligations shall be distributed to the "Parties" in the sane relationship as <br /> their total contributions over all program years to the total contributions of all "Parties over all <br /> program years. <br /> B. In the event a "Party' withdraws from this Agreement, any property interest of that "Party" remaining <br /> in the Authority following discharge of all obligations shall be disposed of as provided for in the <br /> Bylaws. Obligations. as referred to herein, shall include, but not be limited to, all payments required <br /> by law together with all "Reserves" which have been established for the purpose of paying incurred <br /> claims together with any other legal obligations incurred by the Authority pursuant to this Agreement. <br /> II. AMENDMENTS <br /> This Agreement may be amended, after sixty (60) days notice to the "Parties". by a two- thirds (2/3) weighted <br /> vote of the "Parties'. However, this Agreement may not be amended without a unanimous vote until three (3) <br /> years after its effective date. For purposes of this paragraph, amendment shall not include termination of the <br /> Agreement. Any such amendment shall be effective upon the date of final execution thereof unless otherwise <br /> provided in the amendment. <br /> LAwCX AGRITM I:NT (3/19/92 eth June IK. 1992 6 <br />