* § 6102. Organization of domestic reciprocal insurers. (a)\nTwenty-five or more persons, firms and corporations, each having the\nqualifications of subscribers as prescribed in this article, may\norganize a reciprocal insurer to do any one or more of the basic kinds\nof insurance set forth in subsection (a) of section four thousand one\nhundred one of this chapter or, in the alternative, twenty-five or more\nNew York counties, towns, cities, villages, district corporations (as\ndefined in paragraph three of section 2.00 of the local finance law), or\nschool districts and boards of cooperative educational services, each\nhaving the qualifications of subscribers as prescribed in this article,\nmay organize statewide municipal reciprocal insurers to provide any one\nor more of the basic kinds of insurance set forth in subsection (a) of\nsection four thousand one hundred one of this chapter, except workers'\ncompensation and employers' liability, fidelity and surety other than\nofficial undertakings conditioned for the faithful performance of\nofficial duties as referenced in section eleven of the public officers\nlaw and required by related provisions of the county, town, and village\nlaws, credit and marine and inland marine (except as authorized by the\nprovisions of paragraph two of subsection (b) of section four thousand\none hundred two of this chapter) insurance. Such an insurer shall be\ncalled, for purposes of this chapter, a "municipal reciprocal insurer"\nand shall be subject to all the provisions of this chapter applicable to\na reciprocal insurer, except where the context otherwise requires.\nHowever, any reciprocal insurer authorized to do the business of\nworkers' compensation insurance shall be deemed to be a mutual carrier\nwithin the meaning of the definition of that term in section one hundred\nsix of the workers' compensation law and shall be subject to the\nprovisions of article six-A of such law.\n (b) The original subscribers and the attorney-in-fact shall execute a\ndeclaration setting forth the following:\n (1) the name of such reciprocal insurer, which shall conform to the\nprovisions of subsection (g) of section one thousand one hundred two of\nthis chapter;\n (2) the location of the principal office of such reciprocal insurer,\nwhich shall be the same as the principal office of the attorney-in-fact\nand shall at all times be located in this state;\n (3) the kind or kinds of insurance business intended to be done,\nspecified in terms of subsection (a) of section one thousand one hundred\nthirteen of this chapter;\n (4) the names and addresses of the subscribers so proposing to engage\nin such business;\n (5) the designation and appointment of an attorney-in-fact, which may\nbe a person, other than an individual, organized under the laws of this\nstate authorized by the superintendent to act as such for one or more\nreciprocal insurers; and having its principal office in this state;\n (6) the names and addresses of the officers and directors of the\nattorney-in-fact, if a corporation, or of its members, if a firm, of\nwhom a majority shall be residents of this state or of contiguous\nstates;\n (7) the designation of an advisory committee, all of whose members\nshall be subscribers or officers or directors of subscriber corporations\nor members of subscriber firms, to act on behalf of the subscribers,\nwith power to supervise and control the attorney-in-fact and to control\nthe investments of the assets of the reciprocal insurer, and such other\npowers as may be conferred by the articles of association and the\nsubscriber's agreement;\n (8) a declaration (i) that all of the invested assets of such\nreciprocal insurer, except deposits held by state officials as required\nby law, shall be held by and in the name of such reciprocal insurer,\nsubject to the control of the advisory committee and to the provisions\nof this chapter, and (ii) that all monies paid to such reciprocal\ninsurer shall, after
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