(b) (1) The Board of Directors consists of nine members elected by Association members.

(2) Of the nine members of the Board of Directors:

(i) four shall be nominated by the American Property Casualty Insurance Association;

(ii) one shall be associated with a domestic insurer that is not affiliated with the American Property Casualty Insurance Association;

(iii) two may not be affiliated with a member company of the American Property Casualty Insurance Association or with a domestic insurer that is otherwise represented on the Board of Directors; and

(iv) two shall be nominated by the members of the Board of Directors selected under items (i) through (iii) of this paragraph.

(3) The term of a member of the Board of Directors is 1 year.

(4) If the American Property Casualty Insurance Association fails to submit the name of a nominee at least 10 days before the election, the requirement that four directors be from among nominees of that group need not be met for that year.