Section 3-214 - Subscribers' advisory committee. - Maryland Statutes

§ 3-214. Subscribers' advisory committee.
 

(a)  In general.- The advisory committee of a domestic reciprocal insurer that exercises the subscribers' rights shall be chosen under rules that the subscribers adopt. 

(b)  Membership.- Not less than two-thirds of the advisory committee shall be subscribers other than the attorney in fact of the reciprocal insurer or a person employed by, representing, or having a financial interest in the attorney in fact. 

(c)  Duties.- The advisory committee shall: 

(1) supervise the finances of the reciprocal insurer; 

(2) supervise the operations of the reciprocal insurer to ensure compliance with the subscribers' agreement and power of attorney; 

(3) procure the audit of the accounts and records of the reciprocal insurer and of the attorney in fact at the expense of the reciprocal insurer; and 

(4) have any additional powers and functions as conferred by the subscribers' agreement. 
 

[An. Code 1957, art. 48A, § 293; 1997, ch. 35, § 2.]