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 the power of attorney; (3) procure the audit of the accounts and records of the insurer and of attorney at the expense of the insurer; and (4) have such additional powers and functions as may be conferred in the subscribers' agreement. History: Laws 1984, ch. 127, § 674.
New Mexico Legal Code