State Codes and Statutes

Statutes > New-jersey > Title-17 > Section-17-37a > 17-37a-5

17:37A-5.  Board of directors;  election or appointment
    The association shall be governed by a board of 21 directors, 10 of whom shall be elected annually by the members of the association, whose votes in such election shall be weighted in accordance with each member's participation in the association pursuant to section 6 of this act.  One of whom shall be appointed annually by the commissioner from and among the officers of the various domestic mutual insurance companies, and one of whom shall be appointed  annually by the commissioner from among the officers of the various domestic  stock insurance companies.  Six of whom shall be appointed annually by the  commissioner from the public-at-large and who shall be individuals who are not  employed by, or otherwise affiliated with, insurers, insurance agents, brokers,  producers, or other entities of the insurance industry.  In addition there will  be three nonvoting members, one from the Independent Insurance Agents  Association, one from the Professional Insurance Agents Association, and one  from the Insurance Brokers' Association, or their successor organizations, each  of whom shall be delegated by their respective associations to serve annually.

    Each of the six public members appointed by the commissioner shall be entitled to a per diem stipend of $100.00 for each day of board business attended, to be paid by the association.  In addition, all board members, both voting and nonvoting shall be reimbursed by the association for all reasonable travel expenses incurred in connection with attendance at board meetings.

     L.1968, c. 129, s. 5, eff. July 1, 1968.  Amended by L.1971, c. 395, s. 1, eff. Jan. 10, 1972;  L.1981, c. 232, s. 1.
 

State Codes and Statutes

Statutes > New-jersey > Title-17 > Section-17-37a > 17-37a-5

17:37A-5.  Board of directors;  election or appointment
    The association shall be governed by a board of 21 directors, 10 of whom shall be elected annually by the members of the association, whose votes in such election shall be weighted in accordance with each member's participation in the association pursuant to section 6 of this act.  One of whom shall be appointed annually by the commissioner from and among the officers of the various domestic mutual insurance companies, and one of whom shall be appointed  annually by the commissioner from among the officers of the various domestic  stock insurance companies.  Six of whom shall be appointed annually by the  commissioner from the public-at-large and who shall be individuals who are not  employed by, or otherwise affiliated with, insurers, insurance agents, brokers,  producers, or other entities of the insurance industry.  In addition there will  be three nonvoting members, one from the Independent Insurance Agents  Association, one from the Professional Insurance Agents Association, and one  from the Insurance Brokers' Association, or their successor organizations, each  of whom shall be delegated by their respective associations to serve annually.

    Each of the six public members appointed by the commissioner shall be entitled to a per diem stipend of $100.00 for each day of board business attended, to be paid by the association.  In addition, all board members, both voting and nonvoting shall be reimbursed by the association for all reasonable travel expenses incurred in connection with attendance at board meetings.

     L.1968, c. 129, s. 5, eff. July 1, 1968.  Amended by L.1971, c. 395, s. 1, eff. Jan. 10, 1972;  L.1981, c. 232, s. 1.
 

State Codes and Statutes

State Codes and Statutes

Statutes > New-jersey > Title-17 > Section-17-37a > 17-37a-5

17:37A-5.  Board of directors;  election or appointment
    The association shall be governed by a board of 21 directors, 10 of whom shall be elected annually by the members of the association, whose votes in such election shall be weighted in accordance with each member's participation in the association pursuant to section 6 of this act.  One of whom shall be appointed annually by the commissioner from and among the officers of the various domestic mutual insurance companies, and one of whom shall be appointed  annually by the commissioner from among the officers of the various domestic  stock insurance companies.  Six of whom shall be appointed annually by the  commissioner from the public-at-large and who shall be individuals who are not  employed by, or otherwise affiliated with, insurers, insurance agents, brokers,  producers, or other entities of the insurance industry.  In addition there will  be three nonvoting members, one from the Independent Insurance Agents  Association, one from the Professional Insurance Agents Association, and one  from the Insurance Brokers' Association, or their successor organizations, each  of whom shall be delegated by their respective associations to serve annually.

    Each of the six public members appointed by the commissioner shall be entitled to a per diem stipend of $100.00 for each day of board business attended, to be paid by the association.  In addition, all board members, both voting and nonvoting shall be reimbursed by the association for all reasonable travel expenses incurred in connection with attendance at board meetings.

     L.1968, c. 129, s. 5, eff. July 1, 1968.  Amended by L.1971, c. 395, s. 1, eff. Jan. 10, 1972;  L.1981, c. 232, s. 1.