304.36-070 Board of directors.
(1) The board of directors of the association shall consist of not less than five (5) nor
more than nine (9) persons serving terms as established in the plan of operation. <br>The members of the board shall be selected by member insurers subject to the <br>approval of the commissioner. Vacancies on the board shall be filled for the <br>remaining period of the term by a majority vote of the remaining board members, <br>subject to the approval of the commissioner. If no members are selected within sixty <br>(60) days after June 16, 1972, the commissioner may appoint the initial members of <br>the board of directors.
(2) In approving selections to the board, the commissioner 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.
Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 1465, effective July 15, 2010. -- Created
1972 Ky. Acts ch. 137, sec. 7, effective June 16, 1972.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
