2005-03-19 Minutes of the Special Called and Pre-Budget Meeting of the La Porte City Council

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SECTION 8.,yOUR DUTIES You shall be responsible for the investigating, auditing,. calculating, and paying of all claims, and the defense of any legal action instituted against You. . You shall maintain and make available to Us, at all times, suchinfor:mation and records as We may reasonably require evidencing Your proof of payment of amounts which qualify for coverage under this Policy. . You shall maintain a record of any and all amounts paid in excess of payments required by the Plan. You shall prepare and submit to Us the following: 1. a monthly report of the total claims paid during the month, 2.a monthly report of the total number of Covered Units under the Plan during the month, 3. any other report as required by Us, and 4. any notice of claim as required under this Policy. You shall maintain records reasonably required by Us and shall furnish to Us upon Our request, all pertinent data with respect to Covered Persons. Yon shall immediately notifY us if You acquire or dispose of any subsidiary, a:ffiliated company, corporate division or assets relating thereto. You shall immediately notify Us of the date that You suspend active business operations or become insolvent or a bBnkmptcy action is commenced. (wbether voluntary or invohmtaIy) or You are in liquidation or receivership. You shall immediately notify Us if the Plan is amended or terminated. If You do not give Us notice of amendment of the Pl~ Our liability is limited to the lesser of the benefits payable: a) lIDder the Plan as revised; or b) as if the Plan had not been. amended. You may retain an Administrator as Your agent to perform .any or all of the duties listed in this Section. We are not liable under this Policy for any charges or expenses that may be incurred by Yon and/or Your Administrator for the performance of these duties. You and the Plan acknowledge that: . 1. The Administrator is not Our agent. 2. Payments by or notices from Us to th<:, Administrator are deemed received by You upon receipt by the Administrator. Payments from You to the Administrator are not deemed received by Us. We act only as a provider of excess loss insurance coverage to the Plan. We do not act as a fiduciary. We do not assume any duty to perform any of the functions or provide any of the reports required by the Employee Retirement Income Security Act of 1974 (ERISA), as amended. 3. We must approve a change in Administrator prior to its occurrence. SL-2001 14 (6/01)