A. The board of directors of the Association shall consist of at least five but no more than nine persons serving terms specified in the plan of operation. The members of the board shall be elected by member insurers, giving consideration among other things to whether all types of member insurers are fairly represented. Vacancies on the board shall be filled for the remaining period of the term in the same manner as initial appointments.
B. 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.
1970, c. 766, § 38.1-762; 1986, c. 562.
Structure Code of Virginia
Chapter 16 - Virginia Property and Casualty Insurance Guaranty Association
§ 38.2-1602. Liberal construction
§ 38.2-1604. Association created; members; divided into three accounts
§ 38.2-1605. Board of directors
§ 38.2-1606. Duties and powers of Association
§ 38.2-1607. Plan of operation
§ 38.2-1608. Duties and powers of Commission; judicial review
§ 38.2-1610. Exhaustion of remedies under policy; claims recoverable from more than one association
§ 38.2-1611. Aids in detection and prevention of insurer insolvencies
§ 38.2-1611.1. Tax write-offs of certificates of contribution
§ 38.2-1612. Examination and regulation of Association by Commission; annual financial report
§ 38.2-1613. Exemption from payment of fees and taxes
§ 38.2-1615. No liability for action taken in good faith
§ 38.2-1617. Termination of operation of Association; expiration of chapter
§ 38.2-1618. Purpose and applicability of article
§ 38.2-1620. Financing the safety fund, maximum amount, distribution of excess
§ 38.2-1621. Investment of safety fund