GENERAL ASSEMBLY OF NORTH CAROLINA
1989 SESSION
CHAPTER 67
AN ACT TO AMEND THE MEMBERSHIP REQUIREMENTS FOR THE BOARD OF GOVERNORS OF THE NORTH CAROLINA MOTOR VEHICLE REINSURANCE FACILITY.
The General Assembly of North Carolina enacts:
Section 1. G.S. 58-248.33(d) reads as rewritten:
"(d) The Facility shall be
administered by a Board of Governors. The Board of Governors shall consist of nine
12 members having one vote each from the classifications hereinafter
enumerated plus the Commissioner who shall serve ex officio without vote. Each
Facility insurance company member serving on the Board shall be represented by
a senior officer of the company. Not more than one company in a group under the
same ownership or management shall be represented on the Board at the same
time. Five members of the Board shall be selected by the member insurers, which
members shall be fairly representative of the industry. To insure
representative member insurers, one each shall be selected from the following
groups: the American Insurance Association (or its successors), the American
Mutual Insurance Alliance Alliance of American Insurers (or its
successors), the National Association of Independent Insurers (or its
successors), all other stock insurers not affiliated with the above groups, and
all other nonstock insurers not affiliated with the above groups. The
Commissioner shall appoint two members of the Board who shall be Facility
insurance company members domiciled in this State. The Commissioner shall
appoint one member of the Board who shall be selected from a list of two
nominees submitted by the Auto Insurance Agents of North Carolina, Inc. The
Commissioner of Insurance shall appoint four members of the Board who shall be
fire and casualty insurance agents licensed in this State and actively engaged
in writing motor vehicle insurance in this State. The Commissioner shall select
one agent from among a list of two nominees submitted by the Independent
Insurance Agents of North Carolina, Inc., and one agent from among a list of
two nominees submitted by the Carolinas Association of Professional Insurance
Agents. The initial term of office of said Board members shall be two years.
Following completion of initial terms, successors to the members of the
original Board of Governors shall be selected to serve three years. All members
of the Board of Governors shall serve until their successors are selected and
qualified and the Commissioner may fill any vacancy on the Board from any of
the aforementioned classifications until such vacancies are filled in
accordance with the provisions of this Article. The Board of Governors of the
Facility shall also have as nonvoting members two persons who are not employed
by or affiliated with any insurance company or the Department of Insurance and
who are appointed by the Governor to serve at his pleasure."
Sec. 2. This act is effective upon ratification.
In the General Assembly read three times and ratified this the 25th day of April, 1989.