2019 District of Columbia Code
Title 31 - Insurance and Securities.
Chapter 55 - Property and Liability Insurance Guaranty Association.
§ 31–5504. Board of directors.
(a) The board of directors of the Association shall consist of not fewer than 5 nor more than 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 Mayor. Vacancies on the board shall be filled for the remainder of the term by a majority vote of the remaining board members subject to the approval of the Mayor. If no members are selected within 60 days after October 21, 1993, the Mayor may appoint the initial members of the board of directors.
(b) In approving selections to the board of directors, the Mayor shall consider, among other things, whether all member insurers are fairly represented.
(c) Members of the board of directors may be reimbursed from the assets of the Association for expenses incurred by them as members of the board of directors.
(Oct. 21, 1993, D.C. Law 10-51, § 5, 40 DCR 6120.)
Prior Codifications1981 Ed., § 35-3904.
Section ReferencesThis section is referenced in § 31-5503 and § 31-5506.
