Chapter Four The Authority's Board of Directors
Article (10) Membership Requisites
It's conditional on whosoever been appointed as member of the board to satisfy the following requisites:
- He should be a UAE national.
- He should be no less than 21 calendar years old and of legal capacity.
- He should be one of those who acquired experience or specialized in any of the insurance operations or in one of the related fields. Any of the following persons shall be deemed people of experience and specialization:
- The insurance experts approved by the Authority.
- The members of the board of any similar establishment.
- The university professors of insurance or any of the related sciences.
- Those persons experienced in economic, commercial, financial, or legal fields.
- The insurance experts approved by the Authority.
- He should be of good conduct, never been convicted for breach of honor, trust or public moral or declared bankrupt by Court and not yet rehabilitated.
- He should never been dismissed as member of any of the boards on disciplinary counts.
- He shouldn't be liable according to the Board's discretion for grief violations of any of the provisions of the Law or the Companies' Law in his capacity as general manager or board member of one of the companies including the liability of causing compulsory liquidation of the company.
- He should be a UAE national.