§ 58-48-30. Board of directors. - North Carolina Statutes

§58‑48‑30.  Board of directors.

(a)        The board ofdirectors of the Association shall consist of not less than five nor more thannine persons serving terms as established in the plan of operation. One non‑votingmember of the board shall be a property and casualty insurance agent authorizedto write insurance for a member insurer, and appointed by the Commissioner; andthe remaining members shall be selected by member insurers subject to theapproval of the Commissioner. Vacancies of the board shall be filled for theremaining period of the term in the same manner as initial appointments. If nomembers are selected within 60 days after June 25, 1971, the Commissioner mayappoint the initial members of the board of directors.

(b)        In approvingselections to the board, the Commissioner shall consider among other thingswhether all member insurers are fairly represented.

(c)        Members of theboard may be reimbursed from the assets of the Association for expensesincurred by them as members of the board of directors. (1971,c. 670, s. 1; 1987, c. 864, s. 60.)