100.5(1)The administrator of a shared risk plan shall be a trustee, a board of trustees or a non-profit corporation.

100.5(2)If the administrator is a non-profit corporation, each director on the board of directors of the corporation is a trustee of the shared risk plan.

100.5(3)A shared risk plan shall provide for the appointment of the administrator and if the administrator is a board of trustees, the composition of the board.

100.5(4)A trustee shall act independently of the person who appointed him or her.

100.5(5)The sole obligation and fiduciary duty of a trustee is to carry out the purposes of the shared risk plan.

100.5(6)A trustee shall manage financial risk in accordance with the funding policy, the investment policy and the risk management procedures for the shared risk plan.

100.5(7)Subject to subsection (8), the term of office of a trustee is three years or such longer period of time as the shared risk plan permits and may be renewed.

100.5(8)The Superintendent may remove a trustee from office if the Superintendent believes, on reasonable and probable grounds, that the trustee has acted improperly, has acted to the detriment of the purposes of the shared risk plan, has not acted in accordance with this Act and the regulations or has failed to act when required to act by this Act and the regulations.

100.5(9)If a trustee is removed from office under subsection (8), another trustee shall be appointed in accordance with the shared risk plan but if not so appointed within 60 days after the removal, the Superintendent shall appoint the other trustee.

100.5(10)If there is a deadlock among the trustees on a board of trustees with respect to any resolution or motion before them, it shall be resolved in accordance with the dispute resolution process required under paragraph 100.4(1)(h).

100.5(11)If the board of trustees fails to act in accordance with the dispute resolution process within the time prescribed by regulation, the Superintendent may determine the process to follow and may appoint such persons as he or she considers necessary to resolve the dispute.

100.5(1)The administrator of a shared risk plan shall be a trustee, a board of trustees or a non-profit corporation.

100.5(2)If the administrator is a non-profit corporation, each director on the board of directors of the corporation is a trustee of the shared risk plan.

100.5(3)A shared risk plan shall provide for the appointment of the administrator and if the administrator is a board of trustees, the composition of the board.

100.5(4)A trustee shall act independently of the person who appointed him or her.

100.5(5)The sole obligation and fiduciary duty of a trustee is to carry out the purposes of the shared risk plan.

100.5(6)A trustee shall manage the risks in accordance with the funding policy, the investment policy and the risk management procedures.

100.5(7)Subject to subsection (8), the term of office of a trustee is three years or such longer period of time as the shared risk plan permits and may be renewed.

100.5(8)The Superintendent may remove a trustee from office if the Superintendent believes, on reasonable and probable grounds, that the trustee has acted improperly, has acted to the detriment of the purposes of the shared risk plan, has not acted in accordance with this Act and the regulations or has failed to act when required to act by this Act and the regulations.

100.5(9)If a trustee is removed from office under subsection (8), another trustee shall be appointed in accordance with the shared risk plan but if not so appointed within 60 days after the removal, the Superintendent shall appoint the other trustee.

100.5(10)If there is a deadlock among the trustees on a board of trustees with respect to any resolution or motion before them, it shall be resolved in accordance with the dispute resolution process contained in the plan text.

100.5(11)If the board of trustees fails to act in accordance with the dispute resolution process within the time prescribed by regulation, the Superintendent may determine the process to follow and may appoint such persons as he or she considers necessary to resolve the dispute.