§36-2920. Subscribers' advisory committee.
127 words·~1 min read·
/ok/title-36-insurance/36-2920·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt.
B. 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.
C. The committee shall:
1. Supervise the finances of the insurer;
2. Supervise the insurer's operations to such extent as to assure conformity with the subscribers' agreement and power of attorney;
3. Procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer;
4. Have such additional powers and functions as may be conferred by the subscribers' agreement. Laws 1957, p. 358, § 2920.