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the Maine Revised Statutes
2012 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS
24-A §3625. Directors' residence, compensation
Universal Citation:
24-A ME Rev Stat § 3625 (2012 through 125th Legis)
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§3625. Directors' residence, compensation
1. A majority of the board of directors of the insurer shall be residents of, and actually reside in, this State.
[ 1969, c. 132, §1 (NEW) .]
2. The salary or compensation for services of the directors of the insurer shall be fixed by the policyholders at their annual meeting.
[ 1969, c. 132, §1 (NEW) .]
SECTION HISTORY
1969, c. 132, §1 (NEW).
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