The PCFOB was created by La. R.S. 40:1299.44 (§1299.44. Redesignated to R.S. 40:1231.4 by HCR 84 of 2015 R.S.).  It consists of a total of nine members who are representatives of one or more classes of health care providers enrolled in the fund and these members shall be apportioned according to the distribution of aggregate surcharges paid to the fund among the several classes of health care providers enrolled in the fund.  Four of the members represent the providers contributing the greatest percentage of the aggregate surcharges, two members represent the second greatest percentage, one member represents the third greatest percentage, and one member is appointed to represent all other providers enrolled in the fund.  The ninth member is selected from nominees from insurance agents and must be a La. Licensed producer with experience in property & casualty insurance.

Board Members are appointed for 3 year terms.

Members are paid $75 per diem when attending board meetings or when engaged in board business.​​

They are also reimbursed for travel in accordance with the Louisiana travel regulations.

The Patient's Compensation Fund Oversight Board's regularly scheduled meetings are held on the first Thursday of each month at Our Lady of the Lake Regional Medical Center, Baton Rouge, LA.

Notice of meeting date and time is published on the PCF's Website 24 hours in advance of the meeting.