Title 31 — Insurance and Securities.
94 chapters · 1,236 sections in this title.
D.C. Code § 31-807 License continuation; expiration
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Repealed Repealed.
D.C. Code § 31-808 Hearings
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Repealed Repealed.
D.C. Code § 31-809 Surrender of license; loss or destruction of license
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Repealed Repealed.
D.C. Code § 31-810 Termination reports
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Repealed Repealed.
D.C. Code § 31-811 Representatives of fraternal benefit societies
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Repealed Repealed.
D.C. Code § 31-812 Countersignature and related laws
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Repealed Repealed.
D.C. Code § 31-813 Temporary licensing
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Repealed Repealed.
D.C. Code § 31-814 Rules and regulations
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Repealed Repealed.
D.C. Code § 31-851 Definitions
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For the purposes of this chapter, the term: (1) “Commissioner” means the Commissioner of Insurance and Securities Regulation [Commissioner of the Department of Insurance, Securities, and Banking]. (2) “Company” means all insurance companies or carriers that are licensed in the Di…
D.C. Code § 31-852 Scope
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Nothing in this chapter shall limit, waive, or abrogate the scope or nature of any statutory or common law privilege, including work product, the attorney-client privilege, or the subsequent remedial measures exclusion.
D.C. Code § 31-853 Privilege
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(a)(1) An insurance compliance self-evaluative audit document shall be privileged information and shall not be admissible as evidence in any legal action in a civil, criminal, or administrative proceeding, except as provided in subsections (b), (c), and (d) of this section and §§…
D.C. Code § 31-854 Civil or administrative proceedings
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A court may, after an in camera review, require disclosure of material for which the privilege is asserted if the court determines: (1) The privilege is asserted for fraudulent purposes; (2) The material is not subject to the privilege; or (3) Even if subject to the privilege, th…
D.C. Code § 31-855 Criminal proceedings
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A court may, after an in camera review, require disclosure of material for which the privilege is asserted, if the court determines: (1) The privilege is asserted for a fraudulent purpose; (2) The material is not subject to the privilege; (3) Even if subject to the privilege, the…
D.C. Code § 31-856 Requests for disclosure
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(a) The Commissioner, Corporation Counsel, or U.S. Attorney may request, in writing by certified mail, disclosure of an insurance compliance self-evaluative audit document within 30 days after the service of the request. The company that prepared the document or caused the docume…
D.C. Code § 31-857 Burden of proof
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(a) A company asserting the privilege shall have the burden of demonstrating the applicability of the privilege. If a company has established the applicability of the privilege, a party seeking disclosure under § 31-854 shall have the burden of proving that the privilege is asser…
D.C. Code § 31-858 Applicability
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The privilege shall apply to all litigation or administrative proceedings pending on April 11, 2003, or filed subsequent to April 11, 2003.
D.C. Code § 31-901 Definitions
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For the purposes of this chapter, the term: (1) “Converted stock company” means a District of Columbia domiciled stock company that converted from a District of Columbia mutual company pursuant to this chapter. (1A) “Commissioner” means the Commissioner of Insurance and Securitie…
D.C. Code § 31-902 Adoption of the plan of conversion by the board of directors
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(a) A mutual company seeking to convert to a stock company shall, by the affirmative vote of a majority of its board of directors, adopt a plan of conversion consistent with the requirements of § 31-906. (b) At any time before approval of a plan by the Commissioner, the mutual co…
D.C. Code § 31-903 Approval of the plan of conversion by the Commissioner of the Department of Insurance, Securities, and Banking
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(a) After adoption by the mutual company’s board of directors, the plan shall be submitted to the Commissioner for review and approval. The Commissioner shall approve the plan upon finding that: (1) The provisions of this section have been complied with; (2) The plan will not pre…
D.C. Code § 31-904 Approval of the plan by the members
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(a) All eligible members shall be given notice of and an opportunity to vote upon the plan. (b) All eligible members shall be given notice of the members’ meeting to vote upon the plan. A copy of the plan or a summary of the plan shall accompany the notice. The notice shall be ma…
D.C. Code § 31-905 Adoption of revised articles of incorporation
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(a) Adoption of the revised articles of incorporation of the converted stock company is necessary to implement the plan and shall be governed by the applicable provisions of District law. (b) For a Class 1 mutual company, the members may adopt the revised articles of incorporatio…
D.C. Code § 31-905.01 Acquiring, offering securities issued in connection with a plan of conversion
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Prior to implementation of a plan of conversion adopted by a mutual company, no person shall knowingly acquire, or make any offer, or make any announcement of an offer, for any security issued, or to be issued, by the mutual company in connection with its plan of conversion, or f…
D.C. Code § 31-906 Required provisions in a plan of conversion
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(a) The plan shall set forth the reasons for the proposed conversion. (b) The plan shall provide that all policies in force on the effective date of conversion shall continue to remain in force under the terms of those policies, except that any voting rights of the policyholders …
D.C. Code § 31-907 Optional provisions in a plan of conversion
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(a) The following provisions may be included in the plan: (1) The plan may provide that the directors and officers of the mutual company shall receive, without payment, nontransferable subscription rights to purchase capital stock of the converted stock company or the stock of an…
D.C. Code § 31-908 Alternative plan of conversion
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The board of directors may adopt a plan of conversion that does not rely in whole or in part upon the issuance to members of nontransferable subscription rights to purchase stock of the converted stock company if the Commissioner finds that the plan does not prejudice the interes…
D.C. Code § 31-909 Effective date of the plan
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A plan shall become effective when the Commissioner has approved the plan.
D.C. Code § 31-910 Rights of members whose policies are issued after adoption of the plan and before its effective date
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(a) All members whose policies are issued after the proposed plan has been adopted by the board of directors and before the effective date of the plan shall be given written notice of the plan of conversion. The notice shall specify the member’s right to terminate that policy as …
D.C. Code § 31-911 Corporate existence
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(a) Upon the conversion of a mutual company to a converted stock company according to provisions of this chapter, the corporate existence of the mutual company shall be continued in the converted stock company. All the rights, franchises, and interest of the mutual company in and…
D.C. Code § 31-912 Conflict of interest
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No director, officer, agent, or employee of the mutual company, or any other person, shall receive any fee, commission, or other valuable consideration, other than his or her usual regular salary and compensation, for in any manner aiding, promoting, or assisting in the conversio…
D.C. Code § 31-913 Costs and expenses
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All costs and expenses connected with a plan of conversion shall be paid for or reimbursed by the mutual company or the converted stock company from the proceeds of the offering; provided, that if the plan provides either for a holding company to acquire the stock of the converte…
D.C. Code § 31-914 Failure to give notice
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If the mutual company complies substantially and in good faith with the notice requirements of this chapter, the mutual company’s failure to give any member or members any required notice does not impair the validity of any action taken under this chapter.
D.C. Code § 31-915 Limitation of actions
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Any action challenging the validity of or arising out of acts taken or proposed to be taken under this chapter shall be commenced within 30 days after the effective date of the plan.
D.C. Code § 31-1001 Report requirement
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(a) Every insurer domiciled in the District of Columbia shall file a report with the Commissioner of the Department of Insurance, Securities, and Banking (“Commissioner”) disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations or revisio…
D.C. Code § 31-1002 Acquisition and disposition of assets
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(a) No acquisition or disposition of assets need be reported pursuant to § 31-1001 if the acquisitions or dispositions are not material. For purposes of this chapter, a material acquisition (or the aggregate of any series of related acquisitions during any 30-day period) or dispo…
D.C. Code § 31-1003 Nonrenewals, cancellations, or revisions of ceded reinsurance agreements
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(a) No nonrenewals, cancellations, or revisions of ceded reinsurance agreements need be reported pursuant to § 31-1001 if the nonrenewals, cancellations, or revisions are not material. (b) For purposes of this chapter, a material nonrenewal, cancellation, or revision is one that …
D.C. Code § 31-1004 Confidentiality
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(a) All reports obtained by or disclosed to the Commissioner under this chapter in the possession or control of the Department of Insurance, Securities, and Banking shall be confidential and privileged; shall not be subject to subchapter II of Chapter 5 of Title 2; shall not be s…
D.C. Code § 31-1101 Applicability of provisions
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The provisions of this chapter shall not apply with respect to: (1) Any insurance company licensed to do business in the District; (2) Any banking institution, trust, loan, mortgage, safe deposit, or title company, building association, credit union, moneylenders, or common trust…
D.C. Code § 31-1102 Definitions
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For the purposes of this chapter: (1) The term “insurance premium finance company” means a person engaged in the business of entering into insurance premium finance agreements. (2) The term “premium finance agreement” means an agreement by which an insured or prospective insured …
D.C. Code § 31-1103 Licenses — Persons required to obtain; fees; other requirements
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(a) No person shall engage in the business of financing insurance premiums in the District without first having obtained a license as a premium finance company from the Commissioner. Any person who shall engage in the business of financing insurance premiums in the District witho…
D.C. Code § 31-1104 Licenses — Issuance or renewal
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(a) Upon the filing of an application and the payment of the license fee the Commissioner shall make an investigation of each applicant and shall issue a license if the applicant is qualified in accordance with this chapter. If the Commissioner does not so find, he shall, within …
D.C. Code § 31-1105 Licenses — Revocation, suspension or refusal to renew; penalty in lieu of revocation or suspension; right of applicant or licensee to administrative or judicial hearing
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(a) The Commissioner may revoke or suspend the license of any premium finance company when and if after investigation it appears to the Commissioner that: (1) Any license issued to such company was obtained by fraud; (2) There was any misrepresentation in the application for the …
D.C. Code § 31-1106 Records
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(a) Every licensee shall maintain records of its premium finance transactions and the said records shall be open to examination and investigation by the Commissioner. The Commissioner may at any time require any licensee to bring such records as he may direct to the Commissioner’…
D.C. Code § 31-1107 Rules and regulations
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The Commissioner shall have authority to make and enforce such reasonable rules and regulations as may be necessary in making effective the provisions of this chapter, but such rules and regulations shall not be contrary to nor inconsistent with the provisions of this chapter.
D.C. Code § 31-1108 Form and contents of agreements
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(a) A premium finance agreement shall: (1) Be dated, signed by or on behalf of the insured, and the printed portion thereof shall be in at least 8-point type; (2) Contain the name and place of business of the insurance agent negotiating the related insurance contract, the name an…
D.C. Code § 31-1109 Service charges
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(a) A premium finance company shall not charge, contract for, receive, or collect a service charge other than as permitted by this chapter. (b) The service charge is to be computed on the balance of the premiums due (after subtracting the downpayment made by the insured in accord…
D.C. Code § 31-1110 Delinquency charges
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A premium finance agreement may provide for the payment by the insured of a delinquency charge of $1 to a maximum of 5% of the delinquent installment which is in default for a period of 5 days or more.
D.C. Code § 31-1111 Cancellation of insurance contracts
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(a) When a premium finance agreement contains a power of attorney enabling the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be canceled by the premium finance company unless such cance…
D.C. Code § 31-1112 Validity of agreements as secured transactions
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No filing of the premium finance agreement shall be necessary to perfect the validity of such agreement as a secured transaction as against creditors, subsequent purchasers, pledges, and encumbrances, successors, or assigns.
D.C. Code § 31-1131.01 Short title
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This chapter may be cited as “the Producer Licensing Act of 2002.”
D.C. Code § 31-1131.02 Definitions
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For the purposes of this chapter, the term: (1) “Business entity” means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. (2) “Commissioner” means the Commissioner of the Department of Insurance, Securities, …