Subdivision 1. Composition. The board of directors of the association shall consist of nine persons. Two of the directors shall be public members and seven shall be insurer members. The public members shall be appointed by the commissioner. Public members may include licensed insurance agents. The insurer members of the board shall be selected by association members subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term in the same manner as initial appointments. The term of appointment for all members is two years.
Subd. 2. Commissioner's duty. In approving selections to the board, the commissioner shall consider among other things whether member insurers are fairly represented.
Subd. 3. Member reimbursement. Members of the board may be reimbursed from the assets of the association for reasonable and necessary sums expended by them as members of the board of directors.
1971 c 145 s 8; 1Sp1985 c 10 s 55; 1987 c 337 s 31
Structure Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 60C — Insurance Guaranty Association
Section 60C.02 — Scope, Purposes, And Construction.
Section 60C.05 — Powers And Duties.
Section 60C.07 — Plan Of Operation.
Section 60C.08 — Board Of Directors.
Section 60C.09 — Covered Claims.
Section 60C.10 — Evaluation Of Claims.
Section 60C.11 — Effect Of Paid Claims.
Section 60C.12 — Appeal And Review.
Section 60C.13 — Exhaustion Of Other Coverage.
Section 60C.14 — Duties And Powers Of Commissioner.
Section 60C.15 — Prevention Of Insolvencies.
Section 60C.16 — Examination Of Association.
Section 60C.17 — Tax Exemption.
Section 60C.18 — Recognition Of Assessments In Rates.
Section 60C.195 — Stay Of Proceedings.
Section 60C.20 — Unfair Trade Practices.
Section 60C.21 — Insolvency; Notice Of Guaranty Fund Protection.