C.__Establish a premium billing procedure for collection of premiums from insured persons.__Billings must be made periodically as determined by the board;

D.__Perform all necessary functions to ensure timely payment of benefits to covered persons under the plan, including:

(1)__Making available information relating to the proper manner of submitting a claim for benefits under the plan and distributing forms upon which submissions must be made;

(2)__Evaluating the eligibility of each claim for payment under the plan; and

(3)__Notifying each claimant within 45 days after receiving a properly completed and executed proof of loss of whether the claim is accepted, rejected or compromised. The board shall establish reasonable reimbursement amounts for any services covered under the benefit plans;

E.__Submit regular reports to the board regarding the operation of the plan.__The frequency, content and form of the reports must be as determined by the board;

F.__Following the close of each calendar year, determine net premiums, reinsurance premiums less administrative expense allowance, the expenses of administration pertaining to the reinsurance operations of the association and the incurred losses of the year and report this information to the superintendent; and

G.__Pay claims expenses from the premium payments received from or on behalf of covered persons under the plan.__If the payments by the plan administrator for claims expenses exceed the portion of premiums allocated by the board for payment of claims expenses, the board shall provide the plan administrator with additional funds for payment of claims expenses.

4.__Payment to plan administrator.__The plan administrator selected pursuant to subsection 1 must be paid, as provided in the contract of the association under subsection 2, for the plan administrator's direct and indirect expenses incurred in the