(a) The plan shall be governed by a Board of Directors consisting of the following:

1. (i) three members elected by cumulative voting by the members whose votes in such election shall be weighted in accordance with each member's net direct premiums written for medical malpractice insurance during the preceding calendar year. At least one of these directors must be an insurer writing medical malpractice insurance in New York but not writing medical malpractice insurance in New York for physicians or hospitals;
2. (ii) two members elected by cumulative voting by the members whose votes in such election shall have equal weight;
3. (iii) under subparagraphs (i) and (ii) of this paragraph, no member may serve as more than one director at any one time;
4. (2) two members appointed by the Superintendent of Financial Services, at least one of which is a representative of eligible health care providers; and
5. (3) the superintendent or a duly authorized representative of the superintendent shall serve as a nonvoting member of the Board of Directors.

(1)

(b) The plan shall be administered in accordance with a plan of operations approved by the superintendent which provides for economic, fair and nondiscriminatory administration and for the prompt and efficient provision of medical malpractice insurance. The plan of operations shall provide:

1. (1) authorization for all actions necessary to effectuate the operations of the plan;
2. (2) the methodology for determining that applicants for coverage through the plan have been unable to obtain coverage in the voluntary market;
3. (3) the methodology for the assignment of policyholders among plan members; and

4. (4) procedures under which:

   1. (i) any member of the plan may be authorized by the board, with the approval of the Superintendent of Financial Services, to service the assignments of other members of the plan that desire to be relieved of their responsibility to service their assignments; or
   2. (ii) the members agree to participate in an independent pooling mechanism, subject to the approval of the superintendent, whereby writings, expenses, fees and losses will be shared proportionately among members of the plan.