§2143.  Board of directors

A.  The board of directors of the consortium shall consist of eleven persons serving terms as established in the plan of operation.  The board shall be composed of five members representing the insurance industry and selected by the Financial Security Study Foundation of Louisiana, Incorporated, two persons selected by the commissioner of insurance, one member selected by the president of the Senate, one member selected by the speaker of the House of Representatives, and two members representing Louisiana State University at Shreveport selected by the chancellor.  Legislative members shall serve as ex officio members only.

B.  Members of the board shall serve without compensation but may be reimbursed for expenses incurred as members of the board of directors.  Legislative members shall receive such per diem and expenses as provided for legislators during attendance of  committee meetings.

C.  The powers and duties of the board of directors shall be:

(1)  To develop, promote, and administer the Louisiana Insurance and Financial Education Consortium.

(2)  To provide direction and guidance to the advisory committee.

(3)  To report periodically to the commissioner of insurance.

Acts 1995, No. 710, §1, eff. Sept. 1, 1995; Acts 2004, No. 286, §1; Redesignated from R.S. 22:1194.2 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.