Section 4. The board of directors of the Fund shall consist of not less than five nor more than nine persons serving such terms as are established in the plan of operation. The members of the board shall be nominated by members of the Fund subject to the approval of the commissioner; provided, however, that at least one member of the board shall be appointed by the commissioner as a representative of insurance producers. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the commissioner. In approving nominations to the board the commissioner shall consider whether all insurers are fairly represented. Members of the board may be reimbursed from the assets of the Fund for expenses incurred by them as members of the board of directors.