(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 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.
(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;
(4) Have such additional powers and functions as may be conferred by the subscribers' agreement.
Structure West Virginia Code
Article 21. Reciprocal Insurers
§33-21-2. General Laws Applicable
§33-21-6. Application for License
§33-21-7. Issuance of License; Suspension, Revocation or Renewal
§33-21-9. Modification of Subscribers' Agreement or Power of Attorney
§33-21-12. Process and Venue; Annual Fee
§33-21-14. Who May Be Subscribers
§33-21-15. Subscribers' Advisory Committee
§33-21-16. Subscribers' Liability -- Generally
§33-21-17. Same -- on Judgments
§33-21-18. Assessments -- Generally
§33-21-20. Same -- Maximum Liability
§33-21-21. Nonassessable Policies
§33-21-22. Distribution of Unused Premiums, Savings or Credits
§33-21-23. Advancement and Repayment of Funds
§33-21-24. Rules for Determining Financial Condition of Reciprocal Insurer
§33-21-25. Distribution of Assets to Subscribers Upon Liquidation