Subdivision 1. Authority and composition. The articles of incorporation or the bylaws of a service plan corporation shall provide that the authority and responsibility for election of officers and proper and lawful operation of the corporation shall be in a board of not less than 12 directors with powers and authority as necessary for or instrumental to complete execution of the purposes of the corporation as provided by law, its articles and bylaws. The number of directors shall be fixed by the articles or bylaws.
Subd. 2. Selection. The directors shall be selected in accordance with the bylaws and at least one-third shall be individuals who are not practicing or engaged in providing health services, and who before their retirement did not practice or engage in providing health services, are not spouses of such persons, and are not employed by or directors of a provider.
1971 c 568 s 7
Structure Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 62C — Nonprofit Health Service Plan Corporations
Section 62C.01 — Nonprofit Health Service Plan Corporations Act.
Section 62C.03 — Service Plan Corporations Authorized.
Section 62C.04 — Organization.
Section 62C.05 — Articles Of Incorporation; Bylaws.
Section 62C.06 — Approval Of Articles And Bylaws.
Section 62C.07 — Directors; Management.
Section 62C.08 — Certificate Of Authority.
Section 62C.09 — Financial Requirements.
Section 62C.11 — Financial Statements And Examinations.
Section 62C.13 — Authorized Contracts And Agreements.
Section 62C.14 — Subscriber Contracts.
Section 62C.142 — Continuation And Conversion Privileges For Former Spouses And Children.
Section 62C.15 — Subscription Charges.
Section 62C.16 — Service Agreements.
Section 62C.17 — License For Solicitor Or Agent.
Section 62C.18 — Personal Liability.
Section 62C.19 — Unfair Trade Practices.