31A-28-206 - Board of directors. - Utah Statutes

31A-28-206. Board of directors.
(1) (a) The board of directors of the association consists of not less than five nor morethan nine members, serving terms of four years each.
(b) The members of the board shall be selected by member insurers, subject to thecommissioner's approval. When a vacancy occurs in the membership for any reason, thereplacement shall be elected for the unexpired term by a majority vote of the remaining boardmembers, subject to the commissioner's approval.
(c) In approving selections or in appointing members to the board, the commissioner shallconsider whether all member insurers are fairly represented.
(d) Notwithstanding Subsection (1)(a), the commissioner shall, at the time of election orreelection, adjust the length of terms to ensure that the terms of board members are staggered sothat approximately half of the board is selected every two years.
(2) A member of the board of directors may be reimbursed from the assets of theassociation for expenses the member incurs as a member of the board of directors.

Amended by Chapter 363, 2001 General Session