1. A majority of the board of directors of the insurer shall be residents of, and actually reside in, this State.
2. The salary or compensation for services of the directors of the insurer shall be fixed by the policyholders at their annual meeting.
Me. Rev. Stat. tit. 24-A, § 3625
Directors' residence, compensation
PL 1969, c. 132, §1 (NEW).
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.