(a) Modifications 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.
(b) No modification shall be effective retroactively, nor as to any insurance contract issued prior thereto.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 70 - Reciprocal Insurers
§ 23-70-104. Name used in suits
§ 23-70-105. Surplus funds required
§ 23-70-107. Certificate of authority
§ 23-70-108. Power of attorney
§ 23-70-110. Attorney's bond required — Exception
§ 23-70-111. Service of process — Judgment
§ 23-70-112. Contributions to insurer
§ 23-70-114. Method of determining financial condition
§ 23-70-115. Subscribers generally
§ 23-70-116. Subscribers' advisory committee
§ 23-70-117. Subscribers' liability
§ 23-70-119. Aggregate liability
§ 23-70-120. Nonassessable policies
§ 23-70-121. Distribution of savings
§ 23-70-122. Subscribers' share in assets