24-A §3625. Directors' residence, compensation
Title 24-A: MAINE INSURANCE CODE
Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS
§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.
[ 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.
[ 1969, c. 132, §1 (NEW) .]
SECTION HISTORY
1969, c. 132, §1 (NEW).