CONTENTS OF PLAN OF OPERATION

The plan of operation must: (1) provide for a nonprofit association to issue residential property insurance and, if applicable, property owners' association insurance under this chapter and distribute the losses and expenses in writing that insurance in this state; (2) provide that all insurers that write residential property insurance shall participate in the association in accordance with Sections 2211.101(b) and (c); (3) provide that a participating insurer is entitled to receive credit in accordance with Section 2211.101(d); (4) provide for the immediate binding of eligible risks; (5) provide for the use of premium installment payment plans, adequate marketing, and service facilities; (6) provide for the establishment of reasonable service standards; (7) provide procedures for efficient, economical, fair, and nondiscriminatory administration of the association; (8) provide procedures for determining the net level of participation required for each insurer in the association; (9) provide for the use of deductibles and other underwriting devices; (10) provide for assessment of all members in amounts sufficient to operate the association; (11) establish maximum limits of liability to be placed through the program; (12) establish commissions to be paid to the insurance agents submitting applications; (13) provide that the association issue policies in the association's own name; (14) provide reasonable underwriting standards for determining insurability of a risk; (15) provide procedures for the association to assume and cede reinsurance; and (16) provide any other procedure or operational matter the governing committee or the commissioner considers necessary.