Maryland Insurance Section 3-214

Article - Insurance

§ 3-214.

      (a)      The advisory committee of a domestic reciprocal insurer that exercises the subscribers' rights shall be chosen under rules that the subscribers adopt.

      (b)      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)      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.



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