§ 3–214
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 3-214 (2026)
Title 3. Kinds of Insurers
Subtitle 2. Reciprocal Insurers
§ 3–214LinkCopy Citation
(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.