North Dakota § 26.1-42.1-04 Board of directors

North Dakota Statutes

§ 26.1-42.1-04 — Board of directors

North Dakota § 26.1-42.1-04

Title 26.1Insurance

Ch. 26.1-42.1Insurance Guaranty Association

This text of North Dakota § 26.1-42.1-04 (Board of directors) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 26.1-42.1-04 (2026).

Text

1.The board of directors of the association consists of a minimum of five and a maximum of nine persons serving terms as established in the plan of operation. The members of the board must be selected by member insurers, subject to the approval of the commissioner. A vacancy on the board must be filled for the remaining period of the unexpired term by a majority vote of the remaining board members, subject to the approval of the commissioner. If the initial board members are not selected within sixty days after August 1, 1999, the commissioner may appoint the initial members of the board.

2.In approving selections to the board, the commissioner shall consider at least whether all member insurers are fairly represented.

3.Every member of the board may be reimbursed from the assets of the

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1. The board of directors of the association consists of a minimum of five and a maximum
of nine persons serving terms as established in the plan of operation. The members of
the board must be selected by member insurers, subject to the approval of the
commissioner. A vacancy on the board must be filled for the remaining period of the
unexpired term by a majority vote of the remaining board members, subject to the
approval of the commissioner. If the initial board members are not selected within sixty
days after August 1, 1999, the commissioner may appoint the initial members of the
board.
2. In approving selections to the board, the commissioner shall consider at least whether
all member insurers are fairly represented.
3. Every member of the board may be reimbursed from the assets of the association for
expenses incurred by the member in the course of the member's official duties.