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SCS/SB 565 - Under the terms of this act, the terms of the current board members shall expire on December 31, 2012. Effective January 1, 2013, the membership of the board shall consist of 9 members (the director of the Department of Insurance, 4 members appointed by the Governor and 4 members of the General Assembly). Commencing January 1, 2013, the Governor shall appoint 4 new members, with the advice and consent of the Senate. Currently, members are appointed by the director without Senate approval. The Governor may reappoint members of the board other than the 8 members sitting on the board prior to January 1, 2013. The act also adds 2 members of the Senate and 2 members of the House of Representatives. The legislative members will serve in an ex officio capacity. STEPHEN WITTE
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