[Amended 6-18-1990; 12-3-1990]
An Insurance Committee of seven members is created to perform the following duties:
A. 
To review the entire risk and insurance program of the Town and to develop and approve proposals for specifications for the proper scope and form of the insurance or risk program.
B. 
To establish minimum requirements for an Agent of Record to administer the Town risk or insurance program.
C. 
To propose to the Town Manager the names of at least two persons capable of being Agent of Record whenever such position shall be vacant or at least 60 days before a term expires.
D. 
To propose to the Town Manager an acquisition procedure that will best serve the Town interests in its risk or insurance program.
A. 
The Insurance Committee shall consist of members whose terms shall expire as follows: June 30, 1968; June 30, 1969; June 30, 1970; June 30, 1971; June 30, 1972; June 30, 1996; and June 30, 1997.
B. 
In filling vacancies, the following provisions shall be observed by the Council:
(1) 
No more than four persons shall belong to the same political party.
(2) 
No more than two members from any party shall be licensed agents.
(3) 
No more than three licensed agents shall be members of the Committee.
(4) 
Except when filling an unexpired term, all appointments shall be for five-year periods.
[Amended 7-5-1995]
Subject to approval by the Council, the Town Manager shall appoint an Agent of Record or Agents of Record for a term to commence July 1, 1995, and to expire on June 30, 1998. All subsequent appointments of Agent or Agents of Record shall be for three-year terms, the first to commence on July 1, 1998. Should the nature of the Town risk or insurance program require it, separate Agents of Record may be appointed for the fire-casualty coverage and for the group insurance-pension program. The Insurance Committee shall establish minimum requirements and prescribe the duties of all Agents of Record. The Agent of Record or Agents of Record, as the case may be, shall be subject to removal from office under the terms of Section 805 of the Charter or for failure to maintain the minimum requirements establish by the Insurance Committee for Agents of Record.
Members of the Committee shall serve without compensation. Compensation for the Agent of Record shall be as established by the Council based upon a recommendation by the Committee. Such compensation shall be reviewed annually by the Committee, with a written report to the Council considering changes in premium levels, other paid commissions, services performed by the Agent of Record and other changes in circumstances. As a result of this review, the Committee shall recommend any change in the compensation of the Agent of Record.