TITLE 41

INSURANCE

CHAPTER 31

COUNTY MUTUAL INSURERS

41-3109.  Directors. (1) The affairs of the insurer shall be under the direction of a board of directors comprised of not less than nine (9) nor more than twenty-five (25) members of the insurer.

(2)  After expiration of the term of initial directors, if any, as provided for in the articles of incorporation, directors shall be elected at the annual meeting of the insurer’s members for terms of not more than three (3) years each. If terms of more than one (1) year are used, the terms of directors shall be staggered so that the terms of a proportionate number of directors will expire each year.

(3)  A director may also act as an agent for the insurer with the same but not greater contract authority as any other agent.

History:

[41-3109, added 1961, ch. 330, sec. 667, p. 645; am. 1983, ch. 46, sec. 1, p. 117.]