38.2-1222 - Subscribers' advisory committee. - Virginia Statutes

§ 38.2-1222. Subscribers' advisory committee.

The advisory committee exercising the subscribers' rights in a domesticreciprocal shall be selected under rules adopted by the subscribers. At leastthree-fourths of the committee shall be composed of subscribers other thanthe attorney or any person employed by, representing, or having a financialinterest in the attorney. The committee shall supervise the finances of thereciprocal and the reciprocal's operations to the extent required to assuretheir conformity with the subscriber's agreement and power of attorney andshall exercise any other powers conferred on it by the subscriber'sagreement. The committee may also be referred to as a board of directors or aboard of trustees or by such other name as the committee chooses.

(1952, c. 317, § 38.1-712; 1986, c. 562; 1990, c. 10.)