(a) Modification of the terms of the subscribers' agreement or power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney in fact of the reciprocal insurer and the subscribers' advisory committee.
(b) A modification described in subsection (a) of this section is not effective retroactively and does not apply to an insurance contract issued before the modification.
Structure Maryland Statutes
Subtitle 2 - Reciprocal Insurers
Section 3-201 - "Subscriber" Defined
Section 3-202 - Scope of Subtitle
Section 3-203 - Qualifications of Reciprocal Insurers
Section 3-204 - Organization and Application for Certificate of Authority
Section 3-205 - Bond of Attorney in Fact
Section 3-206 - Issuance of Certificate of Authority
Section 3-207 - Scope of Certificate of Authority
Section 3-208 - Denials, Suspensions, and Revocations
Section 3-209 - Business Name; Authority to Sue
Section 3-210 - Annual Statement
Section 3-211 - Financial Condition of Reciprocal Insurer
Section 3-212 - Attorney in Fact; Power of Attorney
Section 3-214 - Subscribers' Advisory Committee
Section 3-215 - Modification of Subscribers' Agreement or Power of Attorney
Section 3-216 - Liability of Subscribers
Section 3-218 - Extinguishing Subscribers' Liability and Issuance of Nonassessable Policies
Section 3-220 - Advances of Money