Agenda - Council - 08/22/2006 - Laserfiche WebLink

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r 3.2 Joint Powers Board. © HaynesHitesman, PC 2005 REBA Joint Powers Agmt Alternatives Program Voluntary Employees' Beneficiary Association Trust II. Each is intended to be a voluntary employees' beneficiary association as described § 501(c)(9) of the Code. 3. JOINT POWERS GOVERNING BOARD 3.1 Membership. Membership in REBA shall be open to any governmental unit or other political subdivision as set forth in Minn. Stat. § 471.59, subd. 1, and Minn. Stat. § 471.981 including, but not limited to, joint powers agencies of the State of Minnesota that are deemed by the Advisory Council to qualify for membership. The Advisory Council may impose such conditions on membership as it deems appropriate to protect the interest of REBA and to provide for the benefit of the Adopting Employer; and such conditions as are required by the Agreement, the Bylaws, or by applicable statutes, rules, or regulations. The Advisory Council, at its discretion and in accordance with the Bylaws, may create classes, levels or types of membership within REBA with differing member rights, privileges or obligations. Upon adoption of the Plan, an Adopting Employer shall also execute this Agreement and file it with the Advisory Council. There is hereby created a joint powers board, herein referred to as the "Advisory Council," which shall be empowered to oversee and administer REBA. The Advisory Council shall be empowered to manage all the affairs of REBA and do to all things necessary or convenient for the furtherance of the purposes of REBA, including but not limited to: expending and receiving funds; entering into contracts, leases, and other agreements; renting, leasing, purchasing and otherwise procuring or receiving property real or personal; employing personnel either as employees or by contract; and employing consultants such as attorneys, auditors, accountants, risk managers, actuaries and others. 3.3 Advisory Council Representation. Each member of REBA shall have representation on the Advisory Council equal to every other member. Subject to the foregoing, representation shall be determined pursuant to the Bylaws. The Advisory Council shall act by majority vote of the representatives appointed to it. As appropriate, the Advisory Council may designate one or more representatives to act on its behalf. 3.4 Committee(s). The Advisory Council may, but is not required to, establish one or more committees. The purpose of any such committee may include, without limitation, the management of the affairs of REBA and the receipt and processing of information relating to Plan and Trusts. 3.5 Upon Dissolution of REBA. In the event that REBA is dissolved, the Advisory Council shall continue to exist for a reasonable period to wind up REBA's affairs. Any administrative services provided to the Plan or Trusts prior to the dissolution of REBA shall be provided thereafter as determined by the Advisory Council in its discretion.