Delaware § 5717 Subscribers’ advisory committee

Delaware Statutes

§ 5717 — Subscribers’ advisory committee

Delaware·Title 18·Part Insurance·Ch. 57 RECIPROCAL INSURERS

(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 than2/3of 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; and

(4)Have such additional powers and functions as may be conferred by the subscribers’ agreement.

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(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 than2/3of 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; and

(4) Have such additional powers and functions as may be conferred by the subscribers’ agreement.

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