§ 38-89-160 — Board of directors.

South Carolina § 38-89-160

• Jurisdiction: South Carolina
• Title 38: INSURANCE
• Ch. 89: DAY CARE JOINT UNDERWRITING ASSOCIATION

Text

The association is governed by a board of seven directors, one of whom is appointed by the Governor, with the advice and consent of the Senate, to represent the general public and three of whom are day care owners or operators appointed by the Governor. Three directors are elected by cumulative voting by members of the association, whose votes in the election must be weighed in accordance with each member's net direct premiums written during the preceding calendar year. The approved plan of operation of the association may make provision for combining insurers under common ownership or management into groups for voting, assessment, and all other purposes and may provide that not more than one of the officers or employees of the group may serve as a director at any one time. The insurer representatives of the board of directors must be elected at a meeting of the members or their authorized representatives, which must be held at a time and place designated by the board of directors. The board shall elect a chairman and other necessary officers.

Legislative History

HISTORY: 1989 Act No. 189, Part II, SECTION 43 sub 30; 1993 Act No. 181, SECTION 845; 1998 Act No. 411, SECTION 9.