Legislation
SECTION 5508
Directors
Insurance (ISC) CHAPTER 28, ARTICLE 55
§ 5508. Directors. (a) The association shall be governed by a board of
twenty-one directors. The superintendent or his duly authorized
representative shall serve as a non-voting director. Two directors shall
be appointed by the governor. Two directors shall be appointed by the
temporary president of the senate and two directors shall be appointed
by the speaker of the assembly. Eight directors shall be elected by
cumulative voting by the members of the association, whose votes in such
election shall be weighted in accordance with each member's net direct
premiums written during the preceding calendar year. Four directors
shall be appointed by the superintendent as representatives of
physicians and hospitals. The superintendent shall also appoint two
directors as representatives of the public, who shall not be
representatives of physicians or hospitals, or representatives of
insurers or insurance producers. The eight member companies serving on
the board shall be elected annually at a meeting of the members.
(b) The directors shall serve without compensation but shall be
reimbursed for their actual and necessary expenses incurred in the
performance of their duties under this article.
twenty-one directors. The superintendent or his duly authorized
representative shall serve as a non-voting director. Two directors shall
be appointed by the governor. Two directors shall be appointed by the
temporary president of the senate and two directors shall be appointed
by the speaker of the assembly. Eight directors shall be elected by
cumulative voting by the members of the association, whose votes in such
election shall be weighted in accordance with each member's net direct
premiums written during the preceding calendar year. Four directors
shall be appointed by the superintendent as representatives of
physicians and hospitals. The superintendent shall also appoint two
directors as representatives of the public, who shall not be
representatives of physicians or hospitals, or representatives of
insurers or insurance producers. The eight member companies serving on
the board shall be elected annually at a meeting of the members.
(b) The directors shall serve without compensation but shall be
reimbursed for their actual and necessary expenses incurred in the
performance of their duties under this article.