515B.4 Board of directors. 1. The board of directors of the association shall consist of not less than five nor more than nine persons serving terms as established in the plan of operation. The members ofthe board shall be selected by member insurers subject to the approval of the commissioner.Vacancies on the board shall be filled for the remaining period of the term by majority voteof the remaining directors, subject to the approval of the commissioner. 2. In approving selections to the board the commissioner shall consider among other things whether all member insurers are fairly represented. 3. Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors. [C71, 73, 75, 77, 79, 81, §515B.4]2018 Acts, ch 1041, §127Referred to in §515B.3, 515B.6 Sat Dec 23 00:48:12 2023 Iowa Code 2024, Section 515B.4 (16, 0)
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