P.R. Laws tit. 26, § 3907
(1) The Board of Directors of the Association shall consist of not less than five (5) nor more than nine (9) member insurers, who shall serve for the terms established in the plan of operations. The Board members shall be selected by the member insurers subject to the approval of the Commissioner. The President of the Board shall be elected from among the members thereof. Vacancies on the Board shall be filled for the remaining period of the term, by majority vote of the remaining Board members, subject to the approval of the Commissioner.
(2) On approving the selection of the Board, the Commissioner shall take into consideration, among other things, whether all the member insurers are fairly represented.
(3) The members of the Board may be reimbursed from the assets of the Association, for any reasonable and necessary expenses incurred as members thereof, but the Association may not otherwise compensate said members for their services.
History —Ins. Code, added as § 39.070 on Aug. 17, 1991, No. 72, § 1.