(a) To ensure that the pool is actuarially sound, the board shall:
(1) set the premium rates charged; and
(2) determine the maximum limits of coverage provided.
(b) The pool manager, for the board's consideration, shall:
(1) collect and compile statistical data relating to the liability insurance coverage provided by the pool, including relevant loss, expense, and premium data, and other information;
(2) prepare the proposed premium rate schedules for the approval of the board; and
(3) prepare the maximum limits of coverage.
(c) The board shall periodically reexamine the rate schedules and the maximum limits of coverage as conditions change.
(d) The pool manager shall make available to the public the information described by Subsection (b)(1).