# Va. Code Ann. § 38.2-1703: Board of directors of Association

> Virginia · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1703

## Section

- **Citation:** Va. Code Ann. § 38.2-1703
- **Heading:** Board of directors of Association
- **Jurisdiction:** Virginia
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Virginia Code / Title 38.2 / Chapter 17 / Article 1 / Section 38.2-1703

## Text

A. The board of directors of the Association shall consist of not less than nine nor more than 13 member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the Commission. Vacancies on the board shall be filled for the remainder of the term by a majority vote of the remaining board members, subject to the approval of the Commission.

B. In approving selections the Commission shall consider, among other things, whether all member insurers are fairly represented.

C. Members of the board may be reimbursed from the assets of the Association for expenses incurred by them as members of the board of directors but members of the board shall not be otherwise compensated by the Association for their services.

1976, c. 330, § 38.1-482.21; 1986, c. 562; 2010, c. 510 ; 2018, cc. 258 , 306 , 706 .

## Nearby sections

- [Va. Code Ann. § 38.2-1700 Purpose and applicability of chapter](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1700.md)
- [Va. Code Ann. § 38.2-1701 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1701.md)
- [Va. Code Ann. § 38.2-1702 Association; creation; memberships; accounts; supervision](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1702.md)
- [Va. Code Ann. § 38.2-1703 Board of directors of Association](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1703.md)
- [Va. Code Ann. § 38.2-1704 Powers and duties of Association](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1704.md)
- [Va. Code Ann. § 38.2-1705 Assessments](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1705.md)
- [Va. Code Ann. § 38.2-1706 Plan of operation](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1706.md)
- [Va. Code Ann. § 38.2-1707 Duties and powers of the Commission](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1707.md)
- [Va. Code Ann. § 38.2-1708 Detection and prevention of insolvencies](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1708.md)
- [Va. Code Ann. § 38.2-1709 Tax write-offs of certificates of contributions](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1709.md)
- [Va. Code Ann. § 38.2-1710 Miscellaneous provisions](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1710.md)
- [Va. Code Ann. § 38.2-1711 Examination of the Association; annual report](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1711.md)
- [Va. Code Ann. § 38.2-1712 Tax exemptions](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1712.md)
- [Va. Code Ann. § 38.2-1713 Immunity](https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1713.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_VA_T38.2_C17_A1_S38.2-1703. Check the current official text before relying on it. Not legal advice.