This part is curious enough... The scary part is where the ec appoints the board and they in turn appoint their succesors. Whose interests are best served by this? This is the proverbial self-licking-icecream-cone


Captive Update
The Captive issue is currently on hold; however it was expressed that Council should continue to move forward. The President reiterated that a previous motion was made to establish the captive to a dormant state. This allows AMA to use it as a tool to access more insurance companies from whom to get bids, and it also gives AMA the ability to do a self insured program.

Discussion on this subject included:

· The Captive is a separate corporation from the AMA, and as such, the majority of the Board should not be current AMA Executive Council members.

· F. Gora informed the Executive Council that a document had been developed and reviewed. This document includes proposed information regarding Directors. It proposes that the initial board will be determined by the Executive Council and once that is done, the board members appoint their successors.

· General Counsel is awaiting a written response from the bank regarding release of assets to activate the Captive. He will contact the bank and ask them to inform AMA of the status of that request.