Montana Statutes
§ 33-5-305 — Subscribers' Advisory Committee -- Duties
33-5-305 . Subscribers' advisory committee -- duties.
(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 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' ag
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Montana § 33-5-305 (Subscribers' Advisory Committee -- Duties) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 555, Ch. 286, L. 1959; R.C.M. 1947, 40-5018.
Nearby Sections
15
§ 33-5-101
Scope Of Chapter -- Existing Insurers§ 33-5-102
Definitions§ 33-5-103
Name -- Suits§ 33-5-104
Attorney -- Not Doing Business§ 33-5-201
Organization Of Reciprocal Insurer§ 33-5-202
Merger Or Conversion§ 33-5-301
Power Of Attorney§ 33-5-302
Modifications§ 33-5-303
Attorney's Bond§ 33-5-304
Action On Bond§ 33-5-401
Surplus Funds Required§ 33-5-402
Contributions To Insurer§ 33-5-404
Subscribers' Liability