§ 6104. Qualifications of subscribers. (a) (1) No authorized
reciprocal insurer shall make any new agreement for insurance containing
a provision for contingent liability of subscribers with any subscriber
who or which does not have assets in his, their or its own right in an
amount not less than fifty thousand dollars in excess of liabilities as
shown by a commercial agency report as hereinafter provided, or by a
sworn statement on file with the attorney-in-fact, verified by such
subscriber or by an officer of a corporation subscriber.

(2) (A) Before renewing a contract of insurance with a subscriber,
containing a provision for contingent liability of subscribers, similar
proof of financial responsibility shall be required unless the
subscriber has accumulated and maintains the subscriber's operating
reserve required by section six thousand one hundred nine of this
article.

(B) The report of an established commercial agency having one hundred
thousand or more subscribers shall be deemed presumptive evidence of the
financial condition of a subscriber.

(b) (1) All corporations and the directors or any representative
thereof and all persons, firms or corporations holding property in trust
may insure the same in reciprocal insurers and by so doing such
directors, representatives or trustees, in their representative
capacity, may assume the liabilities and be entitled to the rights of a
subscriber of such reciprocal insurer.

(2) Such directors, representatives or trustees shall not be
personally liable as individuals upon such contract of insurance or
subscriber's agreement.