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23-102-105. Board.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-102-105. Board.
(a) The Arkansas Earthquake Authority shall operate subject to the supervision and control of the Board of the Arkansas Earthquake Authority. There shall be a board of seven (7) members to be appointed by the Insurance Commissioner, which shall meet at least annually to review and prescribe operating rules. The commissioner shall apportion the number of positions into three (3) classes which shall consist of the following members:
(1) Three (3) members shall be representatives of foreign insurance companies;
(2) Two (2) members shall be representatives of domestic insurance companies;
(3) One (1) member shall be a licensed insurance agent; and
(4) One (1) member shall be a consumer.
(b) The commissioner shall appoint members by class of one-year terms, two-year terms, and three-year terms. Thereafter, at each annual meeting, members appointed to succeed those whose terms expire shall be appointed to three-year terms.
(c) The board shall elect one (1) of its members as chair.
(d) Any vacancy in the board occurring for any reason other than the expiration of a term shall be filled for the unexpired term in the same manner as the original appointment.
(e) Members of the board may be reimbursed from moneys of the authority for actual and necessary expenses incurred by them to attend board meetings but shall not otherwise be compensated for their services.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-102-105
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-102-105
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 87bc6391e14946c069616cdad979ce7dd4dd0ffcfada26081d272c18f2349ea3
Source location: content.xml paragraph 60464
Stored source content
23-102-105. Board.
(a) The Arkansas Earthquake Authority shall operate subject to the supervision and control of the Board of the Arkansas Earthquake Authority. There shall be a board of seven (7) members to be appointed by the Insurance Commissioner, which shall meet at least annually to review and prescribe operating rules. The commissioner shall apportion the number of positions into three (3) classes which shall consist of the following members:
(1) Three (3) members shall be representatives of foreign insurance companies;
(2) Two (2) members shall be representatives of domestic insurance companies;
(3) One (1) member shall be a licensed insurance agent; and
(4) One (1) member shall be a consumer.
(b) The commissioner shall appoint members by class of one-year terms, two-year terms, and three-year terms. Thereafter, at each annual meeting, members appointed to succeed those whose terms expire shall be appointed to three-year terms.
(c) The board shall elect one (1) of its members as chair.
(d) Any vacancy in the board occurring for any reason other than the expiration of a term shall be filled for the unexpired term in the same manner as the original appointment.
(e) Members of the board may be reimbursed from moneys of the authority for actual and necessary expenses incurred by them to attend board meetings but shall not otherwise be compensated for their services.
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