(2) In making or approving selections to the board, the director shall consider, among other things, whether member insurers are fairly represented.
(3) A member of the board shall receive no compensation for services as a member. However, a member shall be reimbursed by the association for actual and necessary travel and other expenses incurred by the member in the performance of duties.
(4) A majority of the members of the board constitutes a quorum for the transaction of business. [1971 c.616 §7]