§ 6106. Subscriber's agreement. (a) (1) Every subscriber of an\nauthorized reciprocal insurer shall have executed a subscriber's\nagreement, and every subscriber executing such a subscriber's agreement\ncontaining a provision for contingent liability of subscribers shall\nexecute and duly acknowledge the same, in a manner sufficient for the\nacknowledgment of conveyances of real property to be recorded in the\nstate in which such subscriber is domiciled.\n (2) Every subscriber's agreement shall be identical in terms, except\nas to the date and the name and address of the subscriber, with all\nother subscriber's agreements currently in force and effect with all\nother subscribers of such reciprocal insurers. However, in the case of\nany reciprocal insurer authorized pursuant to section six thousand one\nhundred eight of this article to issue non-assessable policies or\nagreements, or having a corporate attorney-in-fact wholly owned by the\nsubscribers at such reciprocal insurer, the acceptance of a policy or\nbinder of insurance containing the subscriber's agreement printed at the\nend of the standard policy provisions or the binder, as the case may be,\npreceded by the words printed upon the policy or binder:\n "The acceptance of this policy or binder shall constitute\n that insured designated therein is a subscriber of the\n reciprocal insurer and shall constitute the execution and\n delivery by the insured of the subscriber's agreement which\n is appended to this policy or binder, and hereby made a part\n thereof",\nshall constitute the execution and delivery of said subscriber's\nagreement by that insured as fully and to the same extent as though said\nagreement had been signed and acknowledged by that insured.\n (3) Every such subscriber's agreement shall contain in substance the\nfollowing provisions:\n (A) A designation and appointment of the attorney-in-fact to act for\nand bind the subscriber in all transactions relating to or arising out\nof the operations of such reciprocal insurer, subject to such\nlimitations as may be lawfully provided.\n (B) An agreement that service of summons or other legal process on the\nattorney-in-fact or on any other person appointed by the\nattorney-in-fact to receive such process, shall, in any action, suit or\nproceeding arising out of any contract, agreement or transaction of such\nreciprocal insurer, be equivalent to personal service of such summons or\nother legal process on each and every subscriber.\n (C) Unless the reciprocal insurer is authorized to issue\nnon-assessable policies under section six thousand one hundred eight of\nthis article an agreement for the contingent liability of the\nsubscriber, which shall state that such subscriber agrees to pay on\ndemand such subscriber's proportionate share of any assessment lawfully\nordered or levied by the advisory committee or by the superintendent\nunder article seventy-four of this chapter.\n (D) A provision that there shall be an annual meeting of the\nsubscribers, in person or by proxy, at a time and place to be determined\nin accordance with such agreement, of which each subscriber shall be\nduly notified and at which each subscriber shall have power to vote in\nperson or by proxy for all members of the advisory committee to be\nchosen or appointed at such time, except that in the case of a foreign\nreciprocal insurer, the superintendent may permit a modification of such\nprovision provided that he is satisfied that the interests of the\nsubscribers are properly protected.\n (E) A provision specifying the powers and duties of the advisory\ncommittee, which shall include the power and duty to regulate the\ncompensation, powers and duties of the attorney-in-fact, if not\nspecifically provided in the subscriber's agreement, and shall also\ninclude the power to make regulations for the effective control and\ncustody of the funds and investments of the reciprocal insurer. In\naddition, the advis
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