2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 508D - MULTISTATE LIFE AND HEALTH INSURANCE RESOLUTION FACILITY
508D.5 - BOARD OF DIRECTORS.

        508D.5  BOARD OF DIRECTORS.
         1.  The members of the board of directors shall be selected by the
      member guaranty associations.  The number of members of the board and
      their terms shall be established in the plan of operation.  Vacancies
      on the board shall be filled for the remaining period of the term by
      a majority vote of the remaining board members.  In determining
      voting rights, each member guaranty association shall be entitled to
      one vote in person or by proxy.
         2.  The initial board of directors of the facility shall be
      established by the Iowa life and health insurance guaranty
      association and shall consist of not less than five nor more than
      nine members.  The initial board of directors shall adopt a plan of
      operation for the facility as provided in section 508D.7.
         3.  Members of the board of directors are entitled to reasonable
      compensation for expenses incurred in attending meetings of the board
      or while on business conducted on behalf of the facility.  Members of
      the board may also be compensated by the facility for their services
      provided as members of the board as provided in the plan of
      operation.  

         94 Acts, ch 1011, §5
         Referred to in § 508D.4