(A) All health care plans offered to health plan sponsors shall be evaluated, negotiated, procured, and administered in a transparent manner. Transparency requires public disclosure of all costs a health care plan or a health plan sponsor pays to or receives from any person or entity related to the designing, procuring, administering, and evaluating a public school district's health care plan.
(B) Any school district that is a member of a joint purchasing arrangement shall:
(1) Only participate in a joint purchasing arrangement that is audited at least biannually in accordance with the "Generally Accepted Government Auditing Standards" (GAGAS) in the United States and submits such information to the board; and
(2) Only enter into an agreement with any joint purchasing arrangement that holds cash and cash equivalents in a separate interest-bearing account in a financial institution authorized to do business in the state of Ohio; and
(3) Only participate in a joint purchasing arrangement that invests its funds in accordance with the requirements of Chapter 135. of the Revised Code; and
(4) Only participate in a joint purchasing arrangement that requires plan fiduciaries to be trained as such at least triennially.