Title 33, Chapter 17, Section 1
( 33-17-1)
As used in this chapter, the term: (1) "Attorney" means the attorney in fact of a reciprocal insurer.
The attorney may be an individual, firm, or corporation. (2) "Reciprocal insurance" means insurance 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; provided,
however, that reciprocal agreements or contracts of indemnity
executed prior to March 8, 1960, creating funds for the purpose of
satisfying the obligations of self-insured employers under Chapter
9 of Title 34 shall not be deemed reciprocal insurance as defined
in this Code section. (3) "Reciprocal insurer" means an unincorporated aggregation of
subscribers operating individually and collectively through an
attorney in fact to provide reciprocal insurance among themselves. |