Vermont § 4983 Board of directors

Vermont Statutes

§ 4983 — Board of directors

Vermont § 4983

Title 8Title 8: Banking and Insurance

Ch. 137Chapter 137: Vermont Joint Underwriting Associations

This text of Vermont § 4983 (Board of directors) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 8, § 4983 (2026).

Text

Each association established under this chapter shall operate subject to the supervision of a board of directors consisting of representatives of four of the members, who shall be elected by the members; an insurance agent licensed and writing insurance in this State, who shall be named by the Commissioner; and two representatives of the group of buyers of the line of insurance provided, to be named by the association of such group, if any exists, or by the Commissioner. A chair and such other officers as may be provided for in the plan shall be elected by the board. The directors shall serve without compensation but shall be reimbursed by the association for their actual and necessary expenses incurred in the performance of their duties. (Added 1985, No. 265 (Adj. Sess.), § 4, eff. June 4

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Each association established under this chapter shall operate subject to the supervision of a board of directors consisting of representatives of four of the members, who shall be elected by the members; an insurance agent licensed and writing insurance in this State, who shall be named by the Commissioner; and two representatives of the group of buyers of the line of insurance provided, to be named by the association of such group, if any exists, or by the Commissioner. A chair and such other officers as may be provided for in the plan shall be elected by the board. The directors shall serve without compensation but shall be reimbursed by the association for their actual and necessary expenses incurred in the performance of their duties. (Added 1985, No. 265 (Adj. Sess.), § 4, eff. June 4, 1986.)