(1) Maintenance of competent and trustworthy persons to service the program. Written notice shall be provided to the Commissioner before changing the fund's method of fulfilling its servicing requirements.
(2) Maintenance of a risk management program.
(3) Maintenance of a deposit of cash or securities in the amount of $100,000, or a surety bond in lieu thereof.
(4) Maintenance of excess insurance in accordance with sound actuarial principles, unless waived by the Commissioner.
(5) Maintenance of a fidelity bond.
(6) Maintenance of appropriate funded loss reserves determined in accordance with sound actuarial principles satisfactory to the Commissioner.
(7) Maintenance of an aggregate net worth of at least $500,000 of all fund members. A fund shall not be required to provide financial statements of its members evidencing conformity to this requirement after its certificate of authority has been issued, unless required to do so by the Commissioner upon showing of good cause.
(8) Each fund shall have and maintain its principal place of business in the territory and shall therein make available to the Commissioner, upon reasonable notice, complete records of its assets, transactions, and affairs in accordance with such methods and systems as are customary for, or suitable to, the kind or kinds of business transacted.
(9) A fund shall file such reports with the Commissioner as required by section 1484 of this chapter.
(10) A fund shall report to the Commissioner within fifteen days of a determination that the actual premiums written or liability assumed or any other factor which substantially contributes to the financial condition of the plan deviates by more than twenty-five percent from the projections used in the most recent annual report, or if the first annual report has not yet been filed, projections used in the initial plan of operation.
(11) Payment of annual license fees and premium taxes.