33-5-305. Subscribers' advisory committee -- duties.
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33-5-305 . Subscribers' advisory committee -- duties.
(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 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.