1.    The board of directors of the association consists of a minimum of five and a maximum of nine persons serving terms as established in the plan of operation. The members of the board must be selected by member insurers, subject to the approval of the commissioner. A vacancy on the board must be filled for the remaining period of the unexpired term by a majority vote of the remaining board members, subject to the approval of the commissioner. If the initial board members are not selected within sixty days after August 1, 1999, the commissioner may appoint the initial members of the board.

Terms Used In North Dakota Code 26.1-42.1-04

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

2.    In approving selections to the board, the commissioner shall consider at least whether all member insurers are fairly represented.

3.    Every member of the board may be reimbursed from the assets of the association for expenses incurred by the member in the course of the member’s official duties.