.................... moves to amend H.F. No. 2356 as follows:
Page 2, after line 23, insert:
"Sec. 2. Minnesota Statutes 2010, section 79.37, is amended to read:
1.479.37 BOARD OF DIRECTORS.
A board of directors of the reinsurance association is created and is responsible
for the operation of the reinsurance association consistent with the plan of operation
. The board consists of
directors. Four directors shall
two directors shall represent employers
self-insurers; one director shall represent group self-insurers;
two directors shall
represent employees; the commissioner of management and budget and the executive
director of the state Board of Investment or their designees shall serve as directors; and
one director shall represent the public. Insurer members of the reinsurance association
shall elect the directors who represent insurers; self-insurer members of the reinsurance
association shall elect the directors who represent self-insurers; and the commissioner of
labor and industry shall appoint the remaining directors for the terms authorized in the
plan of operation. Each director is entitled to one vote. Terms of the directors shall be
staggered so that the terms of all the directors do not expire at the same time and so that a
director does not serve a term of more than four years. The board shall select a chair and
other officers it deems appropriate.
A majority of the directors currently holding office constitutes a quorum. Action
may be taken by a majority vote of the directors present.
The board shall take reasonable and prudent action regarding the management of
the reinsurance association including but not limited to determining the entity who shall
manage the daily affairs of the reinsurance association. The board shall report to the
governor of its actions regarding the entity selected to manage the reinsurance association
and the reasons for the selection."
Renumber the sections in sequence and correct the internal references
Amend the title accordingly