Contracts of Insurance. The Attorney-in-Fact, while acting as Attorney-in-Fact for the Subscribers, is authorized to transact on behalf of the Reciprocal any or all of the classes of insurance (including reinsurance) which a reciprocal insurer may be permitted to transact under the law of the states in which the Reciprocal is duly licensed to transact insurance. subject to the limitations placed on this authority by the Advisory Board; provided, however, that the Attorney-in-Fact may not transact such business on behalf of the Reciprocal except in conformity with applicable law.
Appears in 2 contracts
Sources: Subscriber's Agreement and Power of Attorney (Southern States Capital Trust I), Subscriber's Agreement and Power of Attorney (Southern States Cooperative Inc)