§ 991.1705. Board of directors
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: November 3, 2020
Effective: November 3, 2020
40 P.S. § 991.1705
§ 991.1705. Board of directors
<For applicability of the amendment of this section by Act 2020, Nov. 3, P.L. 1097, No. 113, see § 4 of that Act.>
(a) The board of directors of the association shall consist of not less than seven (7) nor more than eleven (11) member insurers 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. To select the initial board of directors and initially organize the association, the commissioner shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting, each member insurer shall be entitled to one (1) vote in person or by proxy. If the board of directors is not selected within sixty (60) days after notice of the organizational meeting, the commissioner may appoint the initial members.
Credits
1921, May 17, P.L. 682, No. 284, art. XVII, § 1705, added 1992, Dec. 18, P.L. 1519, No. 178, § 19, imd. effective. Amended 2020, Nov. 3, P.L. 1097, No. 113, § 1.2, imd. effective.
40 P.S. § 991.1705, PA ST 40 P.S. § 991.1705
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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