South Carolina Code 38-31-50. Board of directors
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(1) The board of directors of the association shall consist of not less than five nor more than nine persons who shall serve terms as established in the plan of operation. Member insurers shall select the members of the board subject to the approval of the director. Any vacancy on the board must be filled for the unexpired portion of the term in the same manner as any initial appointment.
(2) In approving selections to the board, the director shall consider, among other things, whether all member insurers are fairly represented.
Terms Used In South Carolina Code 38-31-50
- Appointment: means an individual designated by an official or authorized representative of an authorized insurer to act on its behalf as a producer. See South Carolina Code 38-1-20
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the South Carolina Property and Casualty Insurance Guaranty Association created under § 38-31-40. See South Carolina Code 38-31-20
- Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
(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.