HRS §431:4-407
Changing the rules of a reciprocal insurer
This section says that any changes to the subscribers' agreement or the power of attorney of a domestic reciprocal insurer must be made together by the attorney and the subscribers' advisory committee. The change cannot apply to past time or to insurance contracts issued before the change, and it only takes effect after the insurance commissioner approves it.
attorneys
The statute, as written — Modifications
Modification of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. No modification shall be effective retroactively, nor as to any insurance contract issued prior thereto, nor shall it be effective until approved by the commissioner.
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