2006 Utah Code - 31A-28-107 — Board of directors.

     31A-28-107.   Board of directors.
     (1) (a) The board of directors of the association shall consist of at least five but not more than nine member insurers serving terms as established in the plan of operation.
     (b) (i) The members of the board of directors shall be selected by member insurers, subject to the approval of the commissioner.
     (ii) When a vacancy occurs in the membership of the board of directors for any reason, a replacement may be elected for the unexpired term by a majority vote of the remaining board members, subject to the approval of the commissioner.
     (c) In approving selections or in appointing members to the board of directors, the commissioner shall consider, among other things, whether all member insurers are fairly represented.
     (d) Notwithstanding Subsection (1)(a), the commissioner shall, at the time of election or reelection, adjust the length of terms to ensure that the terms of board members are staggered so that approximately half of the board of directors is selected during any two-year period.
     (2) (a) A member of the board of directors may be reimbursed from the assets of the association for expenses incurred by the member as a member of the board of directors.
     (b) Except as provided in Subsection (2)(a), a member of the board of directors may not be compensated by the association for the member's services.

Amended by Chapter 161, 2001 General Session