Section 5508. Directors  


Latest version.
  • (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.