Connecticut § 38a-864 (Formerly Sec. 38-307). Board of directors.

Connecticut Statutes

§ 38a-864 — (Formerly Sec. 38-307). Board of directors.

Connecticut § 38a-864

Title 38aInsurance

Ch. 704aInsurance Guaranty Funds

This text of Connecticut § 38a-864 ((Formerly Sec. 38-307). Board of directors.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 38a-864 (2026).

Text

(a)The board of directors of the association shall consist of not less than seven nor more than eleven members serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term in the manner described in the plan of operation. 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 sixty days after notice of

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(a) The board of directors of the association shall consist of not less than seven nor more than eleven members serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term in the manner described in the plan of operation. 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 sixty 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

(1972, P.A. 280, S. 7; P.A. 18-13, S. 5.) History: Sec. 38-307 transferred to Sec. 38a-864 in 1991; P.A. 18-13 amended Subsec. (a) by increasing minimum number of board members from 5 to 7 and increasing maximum number of board members from 9 to 11, effective July 1, 2018 .