2006 Louisiana Laws - RS 22:1395.6 — Board of directors

§1395.6.  Board of directors

A.  The board of directors of the association shall consist of ten 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 from the following groups:

(1)  One representative of a member which is a domestic commercial insurance company and a member of the Louisiana Insurers' Conference.  

(2)  Two representatives of member insurers selected from recommendations of the American Council of Life Insurance Companies.  

(3)  One representative of a member insurer selected from recommendations of the Health Insurance Association of America.  

(4)  One representative of a member insurer which is a domestic commercial health insurer.  

(5)  One representative of a member insurer which is a member of the Life Insurers' Conference.  

(6)  One representative of a member insurer which is a member of the National Association of Life Companies.  

(7)  One representative to be approved by the commissioner, who represents a member insurer which is a domestic nonprofit mutual insurer engaged exclusively in the business of furnishing hospital service, medical, or surgical benefits.

(8)  Two persons, one appointed by the president of the Senate and one appointed by the speaker of the House of Representatives, both of whom shall be residents of the state of Louisiana.

B.  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 insurers of the time and place of the organizational meeting.  In determining voting rights at the organizational meeting, each insurer shall be entitled to one vote in person or by proxy.  If the board of directors is not selected within sixty days after notice of the organizational meeting, the commissioner may appoint the initial members.  

C.  In approving selections or in appointing members to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented.  

D.  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.  The members of the board shall not otherwise be compensated by the association for their services.  

Acts 1991, No. 998, §1, eff. Sept. 30, 1991; Acts 1994, 3rd Ex. Sess., No. 92, §1.