Subscribers’ Advisory Committee

TITLE 41 INSURANCE CHAPTER 29 RECIPROCAL INSURERS 41-2920. Subscribers’ advisory committee. (1) The advisory committee of a domestic reciprocal insurer exercising the subscribers’ rights shall be selected under such rules as the subscribers adopt. (2)  Not less than two-thirds (2/3) of such committee shall be subscribers other than the attorney, or any person employed by, representing, or having a financial interest in the attorney. (3)  The committee shall: (a)  Supervise the finances of the insurer; (b)  Supervise the insurer’s operations to such extent as to assure conformity with the subscribers’ agreement and power of attorney; (c)  Procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer; and (d)  Have such additional powers and functions as may be conferred by the subscribers’ agreement.