Nevada Revised Statutes 687A.050 – Board of Directors: Members; vacancies; reimbursement of expenses
1. The Board of Directors of the Association shall consist of not fewer than five nor more than nine persons. The members of the Board shall be appointed by the Commissioner and shall serve at the discretion of the Commissioner. Vacancies on the Board shall be filled in the same manner as initial appointments.
Terms Used In Nevada Revised Statutes 687A.050
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
2. A majority of the members appointed shall be the designated representatives of member insurers. If practicable, one of the members appointed as a designated representative of the member insurers must be an officer of a domestic insurer. The Commissioner shall consider among other things whether all member insurers are fairly represented.
3. Members of the Board may be reimbursed from the assets of the Association for expenses incurred by them as members of the Board of Directors.