NRS 694B.170 Subscribers’ advisory committee.
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NRS 694B.170 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 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 the 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.