West Virginia Statutes

§ 33-21-9 — Modification of subscribers' agreement or power of attorney

West Virginia·Ch. 33  INSURANCE·Art. 21 RECIPROCAL INSURERS
Modification of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. No modification of a domestic, foreign or alien reciprocal insurer's power of attorney or subscribers' agreement shall be effective retroactively, nor as to any insurance contract issued prior thereto, and such modification shall be reasonable and equitable, and shall be filed with the commissioner.

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Legislative History

1957 Reg. Sess., HB126

Nearby Sections

15
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