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' agreement.
History: En. Sec. 555, Ch. 286, L. 1959; R.C.M. 1947, 40-5018.