§ 6112. Subscribers' accounts. (a) The attorney-in-fact, in addition
to the books of account of the collective transactions of all
subscribers of the reciprocal insurer, shall keep and maintain a
separate account for each individual subscriber setting forth the
entries determining the operating reserve, if any, of such subscriber.

(b) Each subscriber's account shall be credited with the premiums
earned by him as an underwriter on the policies issued by the insurer,
and charged with his proper share of all losses incurred under such
policies as well as with the expenses incurred by the insurer.

(c) Earnings and interest income from investments of all subscribers'
operating reserves shall be apportioned and credited to subscribers on
the basis of their accumulated operating reserves and all other interest
and investment income may be apportioned and credited to the subscribers
on the basis of their premiums earned as underwriters.

(d) The subscriber's agreement of an authorized reciprocal insurer may
with the permission of the superintendent contain provisions which
modify the credits, charges and apportionments to the subscribers'
account, as required by subsections (b) and (c) of this section.