§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.
[PL 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.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).