New York § 5204 Board of directors

New York Statutes

§ 5204 — Board of directors

New York § 5204

Law ISCInsurance

Art. 52Motor Vehicle Accident Indemnification Corporation

This text of New York § 5204 (Board of directors) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Insurance § 5204 (2026).

Text

§ 5204. Board of directors.

(a)The board of directors of the\ncorporation shall be composed of nine persons. Seven of such directors\nshall be representatives of motor vehicle liability insurers, shall\nserve without compensation and be elected from among the members of the\ncorporation by the members of the corporation, each of which members\nshall have one vote. In addition, the superintendent shall appoint two\ndirectors as representing broad segments of the public; one such\ndirector shall be a duly licensed insurance agent or broker and one\nshall have no affiliation with insurers or insurance producers.\n (b) Each director shall serve for a term of two years. At the\nexpiration of the initial term their successors in office shall serve\nfor terms as fixed in the by-laws of the co

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§ 5204. Board of directors. (a) The board of directors of the\ncorporation shall be composed of nine persons. Seven of such directors\nshall be representatives of motor vehicle liability insurers, shall\nserve without compensation and be elected from among the members of the\ncorporation by the members of the corporation, each of which members\nshall have one vote. In addition, the superintendent shall appoint two\ndirectors as representing broad segments of the public; one such\ndirector shall be a duly licensed insurance agent or broker and one\nshall have no affiliation with insurers or insurance producers.\n (b) Each director shall serve for a term of two years. At the\nexpiration of the initial term their successors in office shall serve\nfor terms as fixed in the by-laws of the corporation.\n