O.__Apply for funds or grants from public or private sources, including federal grants provided to qualified high-risk pools.

3.__Additional duties and powers.__The superintendent may, by rule, establish additional powers and duties of the board and may adopt such rules as are necessary and proper to implement this chapter.__Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2- A.

4.__Review for solvency.__The superintendent shall review the association at least every 3 years to determine its solvency.__If the superintendent determines that the funds of the association are insufficient to support enrollment of additional persons, the superintendent may order the association to increase its assessments or increase its premium rates.__If the superintendent determines that the funds of the association are insufficient to support the enrollment of additional persons and that the cap of assessments in section 3908 is too low to support the enrollment of additional persons, the superintendent may order the association to charge assessments in excess of the cap for a period not to exceed 12 months.

5.__Annual report.__The association shall report annually to the joint standing committee of the Legislature having jurisdiction over health insurance matters by March 15th.__The report must include information on the benefits and rate structure of coverage offered by the association, the financial solvency of the association and the administrative expenses of the plan.

6.__Audit.__The association must be audited at least every 3 years. A copy of the audit must be provided to the superintendent and to the joint standing committee of the Legislature having jurisdiction over health insurance matters.

§3907.__Selection of plan administrator

1.__Selection of plan administrator.__The board shall select an insurer or 3rd-party administrator, through a competitive bidding process, to administer the plan.__The board shall evaluate bids submitted under this subsection based on criteria established by the board, including:

A.__The insurer's proven ability to handle large group accident and health insurance;