(1) There is hereby created a nonprofit entity to be known as the Comprehensive Health Insurance Pool. All insurers authorized to issue or provide health insurance in this state shall be members of the pool.

(2)(a) Prior to January 1, 2001, the pool shall be managed by a board of directors composed of nine directors whose terms shall expire on December 31, 2000. The board shall at all times, to the extent possible, include at least two representatives of domestic insurance companies, one representative of a health maintenance organization, one representative of a health agency which is involved in advocating for individuals with special health care needs, and one representative of the general public. The director shall adopt and promulgate rules and regulations to establish eligibility and selection criteria for the representative of the general public and for the representative of the health agency.

(b)(i) On and after January 1, 2001, the pool shall be managed by a board of directors composed of seven directors. Such board shall be selected by the director and shall be composed of four representatives of domestic insurers, one representative of health agencies which are involved in advocating for individuals with special health care needs, one representative of individuals eligible for pool coverage, and one representative of the general public.

(ii) With regard to the board as it is composed on and after January 1, 2001:

(A) The representative of health agencies shall not be a member of the board of directors, an officer, or an employee of an insurer;

(B) The representative of individuals eligible for pool coverage (I) shall not be a member of the board of directors, an officer, or an employee of an insurer and (II) shall be an individual who is eligible for pool coverage or who would be eligible for pool coverage if he or she were not otherwise eligible for other health coverage, or the spouse, parent, adult child, or guardian of such individual; and

(C) The representative of the general public (I) shall not be a member of the board of directors, an officer, or an employee of an insurer or of a health agency which is involved in advocating for individuals with special health care needs and (II) shall not be an individual who is qualified for selection as the representative of individuals eligible for pool coverage as provided in subdivision (2)(b)(ii)(B) of this section.

(iii) Recommendations of individuals for selection to the board as it is composed on and after January 1, 2001, may be submitted to the director:

(A) From domestic insurers in the case of the representatives of domestic insurers;

(B) From health agencies which are involved in advocating for individuals with special health care needs in the case of the representative of health agencies; and

(C) From individuals eligible for pool coverage and from organizations which are involved in advocating for individuals eligible for pool coverage in the case of the representative of individuals eligible for pool coverage.