694B.170 - Subscribers’ advisory committee. - Nevada Statutes

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.

      (Added to NRS by 1971, 1832)