§431:16-107 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. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members subject to the approval of the commissioner.
(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. [L 1987, c 347, pt of §2; am L 2000, c 93, §6]
Section: Previous 431-15-411 431-16-101 431-16-102 431-16-103 431-16-104 431-16-105 431-16-106 431-16-107 431-16-108 431-16-109 431-16-110 431-16-111 431-16-112 431-16-113 431-16-114 NextLast modified: October 27, 2016