Section 500.3104 provides that the MCCA establish a Plan of Operation outlining the administration of the Association. Section 500.3104 and the Plan of Operation are the key documents governing the MCCA. The Plan of Operation provides for all of the following:
- The establishment of necessary facilities.
- The management and operation of the association.
- Procedures to be utilized in charging premiums, including adjustments from excess or deficient premiums from prior periods.
- Procedures governing the actual payment of premiums to the association.
- Reimbursement of each member of the board by the association for actual and necessary expenses incurred on association business.
- The investment policy of the association.
- Any other matters required by or necessary to effectively implement this section.
Click here to read the Plan of Operation