What must the Guaranty Association submit to the department?

The Guaranty Association is required to submit a plan of operation, along with any necessary amendments, to the department. This plan serves as a foundational document that outlines the association's structure, governance, operational procedures, and the strategy for handling claims and liabilities for covered obligations.

Having a structured plan of operation is crucial as it ensures that the Guaranty Association functions efficiently and meets regulatory requirements. Such a plan can also help the department assess the association's readiness to fulfill its obligations to policyholders in the event of an insurer's insolvency. By submitting this plan, the Guaranty Association keeps regulators informed about how it plans to manage its operations and respond to emerging challenges in the insurance market, ensuring consumer protection is upheld.

The other options, while potentially relevant to the Guaranty Association’s activities, do not represent the primary submission required to the department regarding operational governance.