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§ 20-403. Board of Directors

West's Annotated Code of MarylandInsuranceEffective: October 1, 2020

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 20. Maryland Automobile Insurance Fund (Refs & Annos)
Subtitle 4. Industry Automobile Insurance Association (Refs & Annos)
Effective: October 1, 2020
MD Code, Insurance, § 20-403
§ 20-403. Board of Directors
In general
(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.
Formerly Art. 48A, § 243M.
MD Code, Insurance, § 20-403, MD INSURANCE § 20-403
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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