§ 1067.06. — 1067.06. (Amended by Stats. 2019, Ch. 236, Sec. 1.)

California § 1067.06.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 1.: DIVISION 1. GENERAL RULES GOVERNING INSURANCE
• Part 2.: PART 2. THE BUSINESS OF INSURANCE
• Ch. 1.: CHAPTER 1. General Regulations
• Art. 14.7.: ARTICLE 14.7. California Life and Health Insurance Guarantee Association

Text

(a)
The board of directors of the association shall consist of not less than 9 nor more than 13 member insurers serving terms as established in the plan of operation. The insurer members of the board shall be selected by member insurers subject to the approval of the commissioner. The board shall also include two additional members who represent the public generally. The public representatives shall be appointed by the commissioner. A public representative may not be an officer, director, or employee of an insurance company or a health
maintenance organization, or any person engaged in the business of insurance. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the commissioner. To select the initial board of directors, and initially organize the association, the commissioner shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting each member insurer shall be entitled to one vote in person or by proxy. If the board of directors is not selected within 60 days after notice of the organizational meeting, the commissioner may appoint the initial members.
(b)
In approving selections or in appointing members to the board, the commissioner shall consider, among other things, whether
all member insurers are fairly represented.
(c)
Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors, but members of the board shall not otherwise be compensated by the association for their services.

Legislative History

Amended by Stats. 2019, Ch. 236, Sec. 1. (AB 1104) Effective January 1, 2020.