Resolution 1995-65 - Laserfiche WebLink

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(14) STOP LOSS INSURANCE. Insurance purchased by CIRSA from an insurance company approved by the Insurance Commissioner to underwrite such coverage in Colorado providing certain coverage up to a contracted amount for otherwise uninsured losses to be borne by the loss fund, which in anyone year aggregate to a pre-set maximum amount of coverage. ARTICLE II. Creation of CIRSA. The Colorado Intergovernmental Risk Sharing Agency, a separate and independent governmental and legal entity, is hereby formed by intergovernmental agreement by its members pursuant to the provisions of24-10-115.5, 29-1-201 et seq., 29-13-102, 8-44-101 (1)(c) and (3), and 8-44-204, c.R.S., as amended, and Colorado Constitution, Article XIV, Section 18(2). ARTICLE III. PUl:poses. (1) The purposes of CIRSA are to provide members the coverages authorized by law, through joint self-insurance, insurance, reinsurance, or any combination thereof, to provide claims services related to such coverages, and to provide risk management and loss control services to assist members in preventing and reducing losses and injuries. (2) It is the intent of the members ofCIRSA to create an entity in perpetuity which will administer and use funds contributed by the members to defend and indemnify, in accordance with these Bylaws, any member of CIRSA against stated liability or loss, to the limit of the financial resources of CIRSA available to pay such liability or loss. It is also the intent of the members to have CIRSA provide continuing stability and availability of needed coverages at reasonable costs. (3) All income and assets of CIRSA shall be at all times dedicated to the exclusive benefit of its members. (4) This intergovernmental agreement shall constitute the Bylaws ofCIRSA. ARTICLE IV. Source of Money: Non-Waiver ofImmunity. (1) All CIRSA monies are monies plus earned interest derived from its members. (2) It is the intent of the members that, by entering into this intergovernmental agreement, they do not waive and are not waiving any immunity or other limitation on liability provided to the members or their officers or employees by any law. (3) No waiver by a member of any immunity or other limitation on liability provided to the member or its officers or employees by any law shall expand the coverages established by the Board. No member shall waive any such immunity or other such limitation on liability without first notifying CIRSA in writing. ARTICLE V. CIRSA Powers. (1) The powers ofCIRSA to perform and accomplish the purposes set forth above shall, within the budgetary limits of CIRSA and subject to the procedures set forth in these Bylaws, be the following: 2 As amended June, 1995