New Mexico § 59A-39-17 Subscribers' advisory committee

New Mexico Statutes

§ 59A-39-17 — Subscribers' advisory committee

New Mexico·Ch. 59A Insurance Code·Art. 39 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 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. 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 the power of attorney;

(3)procure the audit of the accounts and records of the insurer and of attorney at the expense of the insurer; and (4) have such additional powers and functions as may be conferred in 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 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. 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 the power of attorney; (3) procure the audit of the accounts and records of the insurer and of attorney at the expense of the insurer; and (4) have such additional powers and functions as may be conferred in the subscribers' agreement.

New Mexico § 59A-39-17 (Subscribers' advisory committee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.