West Virginia Code 33-26-7 – Board of directors
(1) The board of directors of the association shall consist of not less than five nor more than nine persons serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term in the same manner as initial appointments. If no members are selected within sixty days after the effective date of this article, the commissioner may appoint the initial members of the board of directors.
Terms Used In West Virginia Code 33-26-7
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the West Virginia Insurance Guaranty Association created under section six of this article. See West Virginia Code 33-26-5
- Commissioner: means the Insurance Commissioner of West Virginia. See West Virginia Code 33-26-5
(2) In approving selections to the board, 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.