44-2405. Association; board of directors; members; number; selection; qualifications; expenses.
137 words·~1 min read·
/ne/chapter-44/44-2405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The board of directors of the association shall consist of seven member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the director. At least four members of the board shall represent domestic insurers. Vacancies on the board shall be filled for the remaining period of the term in the same manner as initial appointments.
(2)Subject to the limitations in subsection
(1)of this section, the director shall, in approving selections to the board, consider whether all member insurers are fairly represented.
(3)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 as provided in sections 81-1174 to 81-1177 for state employees.