GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1989

S	2 

SENATE BILL 142*
Second Edition Engrossed 3/1/89

Short Title:  Amend Facility Board Membership.	(Public)
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Sponsors: Senators Parnell, Johnson of Wake, Martin of Pitt; Hunt of Durham and Guy.
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Referred to:  Insurance.
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February 9, 1989

A BILL TO BE ENTITLED
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 11 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 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 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.