Title 31 — Insurance and Securities.
94 chapters · 1,236 sections in this title.
D.C. Code § 31-3501 Definitions
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For the purposes of this chapter, the term: (1) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking. (1A) “Community health reinvestment” means expenditures that promote and safeguard the public health or that benefit current or future su…
D.C. Code § 31-3502 Exclusivity of provisions
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(a) Except as provided in subsection (b) of this section, a corporation organized under the laws of the District of Columbia, or any state, or chartered by act of the Congress of the United States and issuing subscriber contracts in the District of Columbia shall be governed by t…
D.C. Code § 31-3503 Applicability of other provisions
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(a) A corporation governed by this chapter shall also be subject to the following other provisions of District of Columbia insurance law, including any amendments or replacements thereof hereafter enacted: (1) Sections 31-201 [repealed], 31-202, and 31-206, referring to general p…
D.C. Code § 31-3504 Application for certificate of authority
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(a) No corporation subject to the provisions of this chapter, whether organized pursuant to the laws of the District of Columbia, or of any state, or by act of the Congress of the United States, shall issue subscriber contracts until the Mayor has authorized it to do so by issuan…
D.C. Code § 31-3505 Requirements for issuance of certificate of authority
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The Mayor shall issue a certificate of authority to each applicant upon the payment of the $200 fee provided for in § 31-3504(b), and upon being satisfied that: (a) The applicant has been organized bona fide for the purpose of establishing, maintaining, and operating a hospital s…
D.C. Code § 31-3505.01 Community health reinvestment
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A corporation shall engage in community health reinvestment to the maximum feasible extent consistent with financial soundness and efficiency.
D.C. Code § 31-3506 Surplus requirements
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(a) At the time of issuance of a certificate of authority under this chapter and at all times thereafter until risk-based capital regulations for hospital and medical services corporations are promulgated, a corporation must possess surplus in an amount which is the greater of $5…
D.C. Code § 31-3506.01 Compliance and implementation of community health reinvestment obligations
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(a) A corporation shall make available to the Commissioner such information as may be required to permit the Commissioner to verify the corporation’s community health reinvestment and, if appropriate, its compliance with its plan to dedicate excess surplus or to verify that the c…
D.C. Code § 31-3507 Filing of provider contracts
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(a) A corporation holding a certificate of authority under this chapter may enter into contracts with licensed hospitals, licensed physicians, and other duly licensed medical services providers. (b) A copy of each contract form that a corporation, referred to in subsection (a) of…
D.C. Code § 31-3508 Filing of subscriber contract forms and rates
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(1) The form and content of all subscriber contracts between corporation and its contractholders issued in the District of Columbia, including any group certificates and any riders, endorsements, amendments, or other forms made a part of the subscriber contract, shall, at all tim…
D.C. Code § 31-3509 Reserves
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(a) Taking into consideration the nature of the policies issued by the corporation, a corporation shall establish and maintain pro rata gross unearned premium reserves, reserves for incurred but unpaid claims (both reported and unreported), reserves for expenses related to settle…
D.C. Code § 31-3510 Investments
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Notwithstanding any provision of § 31-4435 [repealed], as made applicable by § 31-3503(8), and notwithstanding any other provision of this chapter: (1) Without the Mayor’s prior written consent, a corporation’s aggregate investments in real estate pursuant to § 31-4435(d)(1)(A) t…
D.C. Code § 31-3511 Surplus notes
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(a) A domestic corporation may borrow or assume a liability for the repayment of a sum of money under a written agreement which provides that the loan or advance shall be repaid only out of surplus of the corporation in excess of such minimum surplus as is stipulated in and by th…
D.C. Code § 31-3512 Group subscriber contract standard provisions
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No group subscriber contract shall be issued in the District of Columbia by a corporation unless it contains in substance the following provisions, or provisions which in the opinion of the Mayor are more favorable to the subscribers, or at least as favorable to the subscribers a…
D.C. Code § 31-3513 Reports
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(a) In addition to the annual statement required by § 31-1901, the Mayor: (1) May require each corporation to file on a quarterly or other basis any additional reports, exhibits, or statements the Mayor considers necessary to furnish all information concerning the condition, solv…
D.C. Code § 31-3514 Open enrollment
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Repealed Repealed.
D.C. Code § 31-3514.01 Tax and related payments
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A corporation shall be subject to § 47-2608.
D.C. Code § 31-3514.02 Establishment of Healthy DC and Health Care Expansion Fund
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(a) There is established as a nonlapsing fund the Healthy DC and Health Care Expansion Fund (“Fund”). All funds deposited into the Fund, and any interest earned on those funds, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at th…
D.C. Code § 31-3515 Conversion to a for-profit entity
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A corporation issued a certificate of authority under this chapter shall not be converted into a stock corporation, partnership, limited liability company, or other business entity organized for profit.
D.C. Code § 31-3516 Conversion to a mutual company
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A corporation issued a certificate of authority under this chapter shall not be converted into a mutual insurance company.
D.C. Code § 31-3517 Management contracts and service agreements
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(a) Any management contract or service agreement which delegates to any person or organization all or part of a substantial management duty, function, or other form of control of a corporation, such as adjustment of claims, production of business, investment of assets, or general…
D.C. Code § 31-3518 Directors and trustees
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Notwithstanding § 31-706(c)(3), or any other provision of District of Columbia insurance law referenced in § 31-3503, the following provisions shall apply to a domestic corporation issued a certificate of authority under this chapter: (1) The board of directors or trustees shall …
D.C. Code § 31-3519 Reports to directors and trustees
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The officers or other management of a corporation issued a certificate of authority under this chapter shall report to its board of directors or trustees, no less often than quarterly, regarding any and all transactions or events that have, or are likely to have, a material impac…
D.C. Code § 31-3520 Oversight role and fiduciary obligation of directors, officers, and employees
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(a) The Mayor shall promulgate regulations establishing the oversight role and fiduciary obligation of each member of the board of directors or trustees of a corporation issued a certificate of authority under this chapter. Such regulations shall require the corporation to adopt …
D.C. Code § 31-3521 Sanctions for violations
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(a) If the directors or trustees of a corporation issued a certificate of authority under this chapter knowingly violate, or knowingly permit any of the officers, employees, or agents of the corporation to violate, any provision of this chapter, any other provision of law made ap…
D.C. Code § 31-3522 Appeals
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If, within the time for approval, the Mayor sends notice of disapproval of the proposed form of any subscriber contract, of proposed contract rates, or of any management contract or service agreement required by this chapter to be approved by the Mayor, the affected corporation m…
D.C. Code § 31-3523 General transition provisions
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(a) In his or her sole discretion, the Mayor may provide, upon application and for good cause shown by a corporation in existence and operating in the District of Columbia on April 9, 1997, for a reasonable period of time for such corporation to comply with any requirement of thi…
D.C. Code § 31-3523.01 Regulatory authority
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Nothing in this chapter shall be construed to diminish the authority of the Council to regulate the affairs of Group Hospitalization and Medical Services, Inc.
D.C. Code § 31-3524 Rules and regulations
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The Mayor, in accordance with subchapter I of Chapter 5 of Title 2, shall issue rules to implement the provisions of this chapter.