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Statutes Text

Article - Insurance




§20–403.

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

    (b)    (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.