Okla. Stat. tit. 36, § 36-2006
This is the official text of Okla. Stat. tit. 36, § 36-2006, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Board of directors – Membership – Term – Approval –
Official statutory text
Vacancies – Compensation.
A. The business and functions of the Oklahoma Property and
Casualty Insurance Guaranty Association shall be managed and
administered by a board of twelve (12) directors composed of
domestic, foreign and alien insurers who are member insurers,
including a minimum of two domestic insurers, and two insurance
agents who shall serve as ex officio members. In determining
candidates to fill the member insurer positions, the board shall
consider whether all insurers are fairly represented, including
workers' compensation insurers and other property and casualty
insurers. One of the ex officio members shall be the Executive
Director of the Independent Insurance Agents of Oklahoma, Inc.; the
other ex officio member shall be a licensed, resident property and
casualty insurance agent chosen by the Governor. Each member of the
board of directors shall designate a full-time salaried employee to
represent it on the board of directors. Each member except for the
ex officio members shall serve for a term of two (2) years. The ex
officio member who is appointed by the Governor shall serve at the
pleasure of the Governor. Each appointed member insurer
representative may designate an alternate representative to
represent the insurer at any meeting of the board. Any person
serving as an alternate representative shall, while serving, have
all the powers and responsibilities of the appointed insurer
representative. The members of the board of directors except for
the ex officio members shall be subject to approval by the Insurance
Commissioner. Vacancies on the board except for the ex officio
members shall be filled for the remaining period of the term by a
majority vote of the remaining board members, subject to the
approval of the Commissioner.
B. In approving selections to the board, the Commissioner shall
consider, among other things, whether all member insurers are fairly
represented.
C. Members of the board shall serve without compensation but
may be reimbursed from the assets of the Association for expenses
incurred by them as members of the board of directors.
Oklahoma Statutes - Title 36. Insurance Page 576
A. The business and functions of the Oklahoma Property and
Casualty Insurance Guaranty Association shall be managed and
administered by a board of twelve (12) directors composed of
domestic, foreign and alien insurers who are member insurers,
including a minimum of two domestic insurers, and two insurance
agents who shall serve as ex officio members. In determining
candidates to fill the member insurer positions, the board shall
consider whether all insurers are fairly represented, including
workers' compensation insurers and other property and casualty
insurers. One of the ex officio members shall be the Executive
Director of the Independent Insurance Agents of Oklahoma, Inc.; the
other ex officio member shall be a licensed, resident property and
casualty insurance agent chosen by the Governor. Each member of the
board of directors shall designate a full-time salaried employee to
represent it on the board of directors. Each member except for the
ex officio members shall serve for a term of two (2) years. The ex
officio member who is appointed by the Governor shall serve at the
pleasure of the Governor. Each appointed member insurer
representative may designate an alternate representative to
represent the insurer at any meeting of the board. Any person
serving as an alternate representative shall, while serving, have
all the powers and responsibilities of the appointed insurer
representative. The members of the board of directors except for
the ex officio members shall be subject to approval by the Insurance
Commissioner. Vacancies on the board except for the ex officio
members shall be filled for the remaining period of the term by a
majority vote of the remaining board members, subject to the
approval of the Commissioner.
B. In approving selections to the board, the Commissioner shall
consider, among other things, whether all member insurers are fairly
represented.
C. Members of the board shall serve without compensation but
may be reimbursed from the assets of the Association for expenses
incurred by them as members of the board of directors.
Oklahoma Statutes - Title 36. Insurance Page 576
Status: in_force · Read it on the official government site
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