Directors' residence, compensation

  1. Law
  2. Maine Revised Statutes
  3. MAINE INSURANCE CODE
  4. DOMESTIC MUTUAL ASSESSMENT INSURERS
  5. Directors' residence, compensation

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§3625. Directors' residence, compensation

1.  A majority of the board of directors of the insurer shall be residents of, and actually reside in, this State.  

[PL 1969, c. 132, §1 (NEW).]

2.  The salary or compensation for services of the directors of the insurer shall be fixed by the policyholders at their annual meeting.  

[PL 1969, c. 132, §1 (NEW).]

SECTION HISTORY

PL 1969, c. 132, §1 (NEW).


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