(a) There is a Board of Directors to administer the Association.
Composition of Board
(b)(1) The Board of Directors consists of nine members elected by Association members.
(2) Of the nine members of the Board of Directors:
(i) four shall be nominated by the American Property Casualty Insurance Association;
(ii) one shall be associated with a domestic insurer that is not affiliated with the American Property Casualty Insurance Association;
(iii) two may not be affiliated with a member company of the American Property Casualty Insurance Association or with a domestic insurer that is otherwise represented on the Board of Directors; and
(iv) two shall be nominated by the members of the Board of Directors selected under items (i) through (iii) of this paragraph.
(3) The term of a member of the Board of Directors is 1 year.
(4) If the American Property Casualty Insurance Association fails to submit the name of a nominee at least 10 days before the election, the requirement that four directors be from among nominees of that group need not be met for that year.
Credits
Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 2005, c. 611, § 1, eff. Oct. 1, 2005; Acts 2020, c. 60, § 1, eff. Oct. 1, 2020; Acts 2020, c. 61, § 1, eff. Oct. 1, 2020.
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
