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3979
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MARVIN MANDEL, Governor
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SEVEN members appointed by the Governor with
the advice of the Executive Director of the
Fund. Of the [nine] SEVEN members so
appointed, [not less than two shall be
officers, directors, or employees of insurers
(other than the Fund) authorized to write
automobile liability insurance in the State;
not less than] AT LEAST two shall be insurance
agents or brokers licensed to transact
business in the category of automobile
liability insurance in the State; [not less
than] AT LEAST two shall be lawyers qualified
to practice law in the State; and [not less
than] AT LEAST one shall be an officer,
director, or employee of a premium finance
company registered to engage in business in
the State.
3. [Of the members of the Board
initially appointed, three shall be for a term
of four years, two shall be for a term of
three years, two shall be for a term of two
years, and two shall be for a term of one
year- Thereafter, all appointments shall be
for terms of four years. The Governor, at his
pleasure, may remove any member of the Board
prior to the expiration of his term. The
Governor shall designate the Chairman of the
Board from time to time. The Governor, with
the advice of the Executive Director of the
Fund, shall fill any vacancy which occurs
before the expiration of a term for the
balance of the term so remaining. Members of
the Board are eligible for reappointment.]
THE MEMBERS OF THE BOARD SHALL SERVE AT THE
PLEASURE OF THE GOVERNOR.
4. Each member of the Board shall
receive per diem compensation for each day
actually engaged in the discharge of his
official duties, at the same daily rate as
members of the Board of [Trustees] DIRECTORS,
and each member of the Board shall receive
reimbursement for all necessary and proper
expenses.
5. It shall be the function and duty
of the Board to advise and counsel the
Executive Director [and the Board of Trustees]
of the Fund with respect to [their] HIS
exercise of the powers and duties conferred
upon [them, and to recommend to their
consideration such measures as the Board may
deem appropriate in connection with the Fund's
operations, including the formulation of
suggested long—range policies and programs,
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