(a) The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt.
(b) Not less than 2/3 of such committee shall be subscribers other than the attorney or any person employed by, representing or having a financial interest in the attorney.
(c) The committee shall:
(1) Supervise the finances of the insurer;
(2) Supervise the insurer's operations to such extent as to assure conformity with the subscribers' agreement and power of attorney;
(3) Procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer; and
(4) Have such additional powers and functions as may be conferred by the subscribers' agreement.
Structure Delaware Code
Chapter 57. RECIPROCAL INSURERS
§ 5701. “Reciprocal” insurance defined.
§ 5702. Scope of chapter; existing insurers.
§ 5703. Insuring powers of reciprocals.
§ 5705. Attorney; attorney, subscribers and reciprocal insurer a single entity.
§ 5706. Organization of reciprocal insurer.
§ 5707. Certificate of authority.
§ 5711. Deposit in lieu of bond.
§ 5713. Service of process; judgment.
§ 5714. Contributions to insurer.
§ 5715. Financial condition; method of determining.
§ 5717. Subscribers' advisory committee.
§ 5718. Subscribers' liability generally.
§ 5719. Subscribers' liability on judgment.
§ 5721. Time limit for assessments.
§ 5722. Aggregate or contingent liability.
§ 5723. Nonassessable policies.