PARRIS N. GLENDENING, Governor

Ch. 35

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.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 293.

Throughout subsection (c) of this section, the references to a "reciprocal"
insurer are added for specificity.

In subsection (c)(2) of this section, the former phrase "to such extent" is
deleted as surplusage.

Defined terms: "Domestic insurer" § 1-101
"Person" § 1-101
"Reciprocal insurer" § 1-101
"Subscriber" § 3-201

3-215, MODIFICATION OF SUBSCRIBERS' AGREEMENT OR POWER OF ATTORNEY.

(A) IN GENERAL.

MODIFICATION OF THE TERMS OF THE SUBSCRIBERS' AGREEMENT OR POWER
OF ATTORNEY OF A DOMESTIC RECIPROCAL INSURER SHALL BE MADE JOINTLY BY
THE ATTORNEY IN FACT OF THE RECIPROCAL INSURER AND THE SUBSCRIBERS'
ADVISORY COMMITTEE.

(B) EFFECT OF MODIFICATION.

A MODIFICATION DESCRIBED IN SUBSECTION (A) OF THIS SECTION IS NOT
EFFECTIVE RETROACTIVELY AND DOES NOT APPLY TO AN INSURANCE CONTRACT
ISSUED BEFORE THE MODIFICATION.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 286.

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