(a) There is a Board of Directors of the Society.
(b) (1) There shall be at least 11 directors on the Board.
(2) The directors shall be elected by the members of the Society in accordance with the articles of incorporation and bylaws of the Society.
(3) The bylaws of the Society shall provide that:
(i) not more than five directors may be licensed physicians;
(ii) at least two directors must have had substantial experience as an officer or employee of an insurer;
(iii) at least two directors must be officers and employees of the Society who are responsible for the daily management of the Society; and
(iv) the Board of Directors must consist of individuals who live in different geographical areas of the State.
(c) The Board of Directors governs the Society and exercises the corporate powers of the Society.
Structure Maryland Statutes
Title 24 - State Created Mutual Societies and Other Entities
Subtitle 2 - Medical Mutual Liability Insurance Society of Maryland
Section 24-202 - Legislative Policy
Section 24-203 - Medical Mutual Liability Insurance Society of Maryland
Section 24-204 - Board of Directors
Section 24-205 - Administration of Society by Licensed Insurer
Section 24-206 - Scope of Certificate of Authority
Section 24-207 - Assessments; Nonassessable Policies
Section 24-208 - Membership Fees
Section 24-209 - Policy Terms and Conditions of Coverage
Section 24-211 - Financial Reporting and Analysis
Section 24-212 - Excess Surplus; Rate Reduction