The directors of any insurance company of this state, when acting as its officers, and also for each occasion of their attendance at meetings of the board or its committees, may receive such compensation as a majority of the board deems just and reasonable.
N.J. Stat. Ann. § 17:21-2
Compensation of directors
Known as the New Jersey Automobile Full Insurance Availability Act
The act spans §§ 17:10B-1 to 17:9A-99 (3,637 sections).
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.