§ 33-5-102

33-5-102. Definitions. (1) 'Reciprocal insurance' is that resulting from an interexchange among persons, known as 'subscribers', of reciprocal agreements of indemnity, the interexchange being effectuated through an attorney-in-fact common to all such persons. (2) A 'reciprocal insurer' means an unincorporated aggregation of subscribers operating individually and collectively through an attorney-in-fact to provide reciprocal insurance among themselves. History: En. Secs. 538, 539, Ch. 286, L. 1959; R.C.M. 1947, 40-5001, 40-5002.