| 1 | Representative Gelber offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove lines 373-398 and insert: |
| 5 | 4.a. Must require that the corporation operate subject to |
| 6 | the supervision and approval of a board of governors consisting |
| 7 | of eight individuals who are residents of this state, from |
| 8 | different geographical areas of this state. The Governor, The |
| 9 | Chief Financial Officer, the President of the Senate, and the |
| 10 | Speaker of the House of Representatives shall each appoint two |
| 11 | members of the board. All board members shall possess |
| 12 | demonstrated expertise or knowledge in insurance, bond |
| 13 | financing, business management or corporate board membership. At |
| 14 | least one of the two members appointed by each appointing |
| 15 | officer must have demonstrated expertise in insurance. The Chief |
| 16 | Financial Officer shall designate one of the appointees as |
| 17 | chair. All board members serve at the pleasure of the appointing |
| 18 | officer. All members of the board of governors are subject to |
| 19 | removal at will by the officers who appointed them. All board |
| 20 | members, including the chair, must be appointed to serve for 3- |
| 21 | year terms beginning annually on a date designated by the plan. |
| 22 | Any board vacancy shall be filled for the unexpired term by the |
| 23 | appointing officer. The Chief Financial Officer shall appoint a |
| 24 | technical advisory group to provide information and advice to |
| 25 | the board of governors in connection with the board's duties |
| 26 | under this subsection. The executive director of the corporation |
| 27 | must have substantial insurance and managerial expertise and |
| 28 | senior managers of the corporation shall be engaged by the board |
| 29 |
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| 30 | ======= T I T L E A M E N D M E N T ======= |
| 31 | Remove line 19 and insert: |
| 32 | the qualifications of the corporation's board of governors and |
| 33 | executive director; |