41-3607 — BOARD OF DIRECTORS -- NUMBER -- ELECTION OR APPOINTMENT -- REIMBURSEMENT FOR EXPENSES

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                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 36
                        INSURANCE GUARANTY ASSOCIATION
    41-3607.  BOARD OF DIRECTORS -- NUMBER -- ELECTION OR APPOINTMENT --
REIMBURSEMENT FOR EXPENSES. (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. The members of the board shall
be selected by member insurers subject to the approval of the director.
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
director. If no members are selected within sixty (60) days after May 6, 1970,
the director may appoint the initial members of the board of directors.
    (2)  In approving selections to the board, the director 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.