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 of the 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 vote of 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, §127
Referred to in §515B.3, 515B.6
Structure Iowa Code
Chapter 515B - INSURANCE GUARANTY ASSOCIATION
Section 515B.3 - Creation of the association.
Section 515B.4 - Board of directors.
Section 515B.5 - Duties and powers of the association.
Section 515B.6 - Plan of operation.
Section 515B.7 - Duties and powers of the commissioner.
Section 515B.8 - Effect of paid claims.
Section 515B.9 - Nonduplication of recovery.
Section 515B.10 - Prevention of insolvencies.
Section 515B.11 - Examination of the association.
Section 515B.12 - Tax exemption.
Section 515B.13 - Recognition of assessments in rates.
Section 515B.15 - Stay of proceedings.
Section 515B.16 - Actions against the association.
Section 515B.17 - Timely filing of claims.
Section 515B.18 - Prohibited advertising.
Section 515B.19 - Coordination among guaranty associations.