Maine Revised Statutes
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Ch. 51 Contents
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§3624
§3626
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)
.
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