A.(1) The consortium shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the consortium. The plan of operation and any amendments thereto shall become effective either upon the commissioner's written approval or thirty days after submission if he has not disapproved it.
(2) If at any time the consortium fails to submit suitable amendments to the plan, the commissioner may, after notice and public hearing, adopt and promulgate such reasonable rules as are necessary or advisable to effectuate the provisions of this Part. The rules shall continue in force until modified by the commissioner or superceded by a plan submitted by the consortium and approved by the commissioner.
B. The plan of operation shall:
(1) Establish the procedure for the election of officers of the board of directors for the consortium.
(2) Establish procedures whereby all the powers and duties of the consortium and the advisory committee under R.S. 22:2143 and 2144 will be performed.
(3) Establish the amount and method of reimbursing the members under R.S. 22:2143 and 2144.
(4) Establish regular places and times for meetings of the board of directors.
(5) Establish procedures for records to be kept of all financial transactions of the consortium, its agents, and the board of directors.
(6) Establish additional provisions necessary or proper for the execution of the powers and duties of the consortium.