Sec. 21.75.900. Definition.

In this chapter, (1) “material transaction” means a transaction, other than a claim payment, involving more than one-half of one percent of the reciprocal insurer’s admitted assets as of December 31 of the prior year; (2) “reciprocal insurance” is that resulting from an interexchange among persons, known as “subscribers,” of reciprocal agreements of indemnity, the […]