Board of Directors: Creation; members; term; vacancy.
1. The Board of Directors of the Program of Reinsurance is hereby created. The Board consists of:
(a) Eight members to be appointed by the Commissioner as follows:
(1) Six persons who represent carriers that provide health insurance coverage to small employers pursuant to the provisions of this chapter or to individuals pursuant to chapter 689A of NRS, or to both small employers and individuals; and
(2) Two persons who represent small employers and eligible persons; and
(b) The Commissioner, or his designated representative, who is an ex officio, nonvoting member of the Board.
2. Members of the Board serve without compensation except that, while engaged in the business of the Board, each member is entitled to receive the per diem allowance or travel expenses provided for state officers and employees generally, to be paid from the proceeds of the assessments received by the Program of Reinsurance as an administrative expense of the Program of Reinsurance.
3. After the initial term, the term of each appointed member is 3 years. Members may be reappointed. A member may be removed from the Board by the Commissioner for good cause shown.
4. At the expiration of the term of a member of the Board, or if the member resigns or is otherwise unable to complete his term, the Commissioner shall appoint a replacement not later than 30 days after the vacancy occurs. All vacancies on the Board must be filled in the same manner of appointment as the member who created the vacancy.
Last modified: February 27, 2006