(a) A group shall:
(1) adopt a plan of operation; and
(2) file a copy of the plan of operation with the department.
(b) The plan of operation must include:
(1) provisions governing the composition and selection of a governing board;
(2) the methods for administering the group; and
(3) guidelines governing the workers' compensation insurance coverage obtained by the group that include provisions governing:
(A) the payment of premiums;
(B) the distribution of discounts; and
(C) the methods for providing risk management.