(1) The board of directors of the association shall consist of not less than five nor more than nine persons who shall serve terms as established in the plan of operation. Member insurers shall select the members of the board subject to the approval of the director. Any vacancy on the board must be filled for the unexpired portion of the term in the same manner as any initial appointment.
(2) In approving selections to the board, the director shall consider, among other things, 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.
HISTORY: Former 1976 Code Section 38-31-50 [1953 (48) 493; 1962 Code Section 37-303; 1976 Act No. 732 Section 3] recodified as Section 38-65-50 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-19-50 [1962 Code Section 37-824; 1971 (57) 1001] recodified as Section 38-31-50 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 632.
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