2015 Oklahoma Statutes
Title 85. Workers' Compensation
§85-375.6. Board of Directors - Duties.

85 OK Stat § 85-375.6 (2015) What's This?

The Board of Directors of CompSource Mutual Insurance Company shall have supervision over the administration and operation of the Company. In this regard, the Board shall function in all aspects as a governing body of a domestic mutual insurance company. The Board shall:

1. Employ a Chief Executive Officer who is vested with full power, authority and jurisdiction over the Company. The Chief Executive Officer shall perform any duties which are necessary or convenient in the exercise of any power, authority, or jurisdiction over the Company;

2. Provide for the delivery in this state of workers' compensation insurance and for the transaction of workers' compensation insurance business to the same extent as any other insurance carrier transacting workers' compensation insurance business in this state; and

3. Establish a compensation committee to determine appropriate compensation for the Chief Executive Officer and Directors of CompSource Mutual Insurance Company, provided that compensation for any Director who is a state officer does not conflict with Oklahoma law.

Added by Laws 2013, c. 254, § 6.

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