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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscriber adopts.
(b) Not less than two-thirds of the committee shall be subscribers.
(c) The committee shall:
(1) supervise the finances of the insurer;
(2) supervise the insurer's operations to such extent as to ensure 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.
Cite this article: FindLaw.com - Vermont Statutes Title 8. Banking and Insurance, § 4847. Subscribers' advisory committee - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-8-banking-and-insurance/vt-st-tit-8-sect-4847/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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