{"data":{"id":"us-ky/krs-304.42-070","jurisdiction":"us-ky","citation":"KRS 304.42-070","heading":"Board of directors.","body":"(1) The board of directors of the association shall consist of not less than five (5) nor\nmore than nine (9) member insurers serving terms as established in the plan of\noperation. The members of the board shall be selected by member insurers subject\nto the app roval of the commissioner. Vacancies on the board shall be filled for the\nremaining period of the term by a majority vote of the remaining board members,\nsubject to the approval of the commissioner. To select the initial board of directors,\nand initially o rganize the association, the commissioner shall give notice to all\nmember insurers of the time and place of the organizational meeting. In determining\nvoting rights at the organizational meeting each member insurer shall be entitled to\none (1) vote in pers on or by proxy. If the board of directors is not selected within\nsixty (60) days after notice of the organizational meeting, the commissioner may\nappoint the initial members.\n(2) In approving selections or in appointing members to the board, the commission er\nshall consider, among other things, whether all member insurers are fairly\nrepresented.\n(3) Members of the board may be reimbursed from the assets of the association for\nexpenses incurred by them as members of the board of directors but members of the\nboard shall not otherwise be compensated by the association for their services.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=30111","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:58Z","sha256":"4ec981601fb7ed325efe90d055fc1f653e5afbe00366b42cb6799ef5caaf1419","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.42-060","next":"us-ky/krs-304.42-080"},"notice":"GroundRules: Original legal text. Not legal advice."}