§ 20-403. Board of Directors

   (a) Established. -- There is a Board of Directors to administer the Association.

(b) Composition. --

   (1) The Board of Directors consists of nine members elected by Association members.

   (2) Of the nine members of the Board of Directors:

      (i) two shall be nominated by the American Insurance Association;

      (ii) two shall be nominated by the Property Casualty Insurers Association of America;

      (iii) one shall be associated with a domestic insurer that is not affiliated with a group listed in item (i) or (ii) of this paragraph;

      (iv) two may not be affiliated with a member company of a group listed in item (i) or (ii) of this paragraph or with a domestic insurer that is otherwise represented on the Board of Directors; and

      (v) two shall be nominated by the members of the Board of Directors selected under items (i) through (iv) of this paragraph.

   (3) The term of a member of the Board of Directors is 1 year.

   (4) If a group listed in paragraph (2)(i) or (ii) of this subsection fails to submit the name of a nominee at least 10 days before the election, the requirement that two directors be from among nominees of that group need not be met for that year.

HISTORY: An. Code 1957, art. 48A, § 243M; 1996, ch. 11; 2005, ch. 611.