Section 3-215 - Modification of subscribers' agreement or power of attorney.
§ 3-215. Modification of subscribers' agreement or power of attorney.
(a) In general.- 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) Effect of modification.- 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.
[An. Code 1957, art. 48A, § 286; 1997, ch. 35, § 2.]