Maine Revised Statutes Title 24-A Sec. 3625 – Directors’ residence, compensation
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1. A majority of the board of directors of the insurer shall be residents of, and actually reside in, this State.
[PL 1969, c. 132, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 3625
- Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
2. The salary or compensation for services of the directors of the insurer shall be fixed by the policyholders at their annual meeting.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).