Section 50-6-1005 - Board of directors(a) The board of directors of the association consists of five (5) persons serving three-year terms, with each director having one (1) vote. The commissioner shall select the members of the board. The commissioner, or the commissioner's delegate, shall serve on the board in an ex officio, nonvoting capacity. At least three (3) board members must be employed by a company holding an active certificate of authority to self-insure in this state. Vacancies on the board must be filled for the remaining period of the term in the same manner as initial appointments.(b) In making selections to the board, the commissioner shall consider, among other things, whether all member self-insurers are fairly represented.(c) Members of the board serve without compensation but may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors in accordance with the comprehensive travel regulations as promulgated by the department of finance and administration and approved by the attorney general and reporter.Added by 2024 Tenn. Acts, ch. 666,s 1, eff. 4/9/2024.