Reciprocal Exchange
Legal definition for Indian law research
Definition
reciprocal exchange
: an unincorporated association in which members (as individuals, partnerships, trustees, or corporations) exchange contracts and pay premiums through an attorney-in-fact for the insurance of each other [liability of each member of the reciprocal exchange was limited to ten times the annual premium] called also interinsurance exchange reciprocal insurance exchange reciprocal interinsurance exchange
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.