40-2905. Board of directors; selection; vacancies; expenses. (a) The board of directors of the association shall consist of nine (9) persons, of which three (3) members shall serve terms of one (1) year; three (3) members shall serve terms of two (2) years; and, three (3) members shall serve terms of three (3) years. The members of the board shall be selected by member insurers subject to the approval of the commissioner. The successor of each member serving on the board on July 1, 1976, shall be selected to serve for a term of three (3) years. Vacancies on the board shall be filled for the remaining period of the term in the same manner as initial appointments. If no members are selected within sixty (60) days after the effective date of this act, the commissioner may appoint the initial members of the board of directors.
(b) In approving selections to the board, the commissioner shall consider among other things whether all member insurers are fairly represented.
(c) 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.
History: L. 1970, ch. 185, § 5; L. 1976, ch. 220, § 1; April 2.
Structure Kansas Statutes
Article 29 - Kansas Insurance Guaranty Association Act
40-2901 Purpose and construction.
40-2904 Same; creation of nonprofit association, membership; functions.
40-2905 Board of directors; selection; vacancies; expenses.
40-2906 Insolvency of insurer; duties of association; powers; certificate of contribution.
40-2906a Certificate of contribution as asset of insurer; offset against premium tax liability.
40-2908 Same; powers and duties of commissioner.
40-2910 Same; claims; exhaustion of rights under policy; recovery reductions.
40-2911 Same; detection and prevention of insurer insolvencies; reports and recommendations.
40-2912 Same; association subject to examination and regulation by commissioner; financial report.
40-2914 Same; rates and premiums of policies to include amounts of assessments to association.
40-2915 Same; liability of parties for actions.