§ 58-48-30. Board of directors.
183 words·~1 min read·
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§ 58-48-30. Board of directors.
(a)The board of directors of the Association shall consist of not less than five nor more than nine persons serving terms as established in the plan of operation. One non-voting member of the board shall be a property and casualty insurance producer authorized to write insurance for a member insurer, and appointed by the Commissioner; and the remaining members shall be selected by member insurers subject to the approval of the Commissioner. Vacancies of the board shall be filled for the remaining period of the term in the same manner as initial appointments. If no members are selected within 60 days after June 25, 1971, the Commissioner may appoint the initial members of the board of directors.
(b)In approving selections to the board, the Commissioner shall consider among other things whether all member insurers are fairly represented.
(c)Members of the board may be reimbursed from the assets of the Association for expenses incurred by them as members of the board of directors. (1971, c. 670, s. 1; 1987, c. 864, s. 60; 2022-46, s. 14(rrr).)