Title 31 — Insurance and Securities.

(a) Every person who is directly or indirectly the beneficial owner of more than 10% of any class of any equity security of a domestic stock insurance company, or who is a director or an officer of such company, shall file in the office of the Commissioner on or before the 31st d…

Nothing in this chapter shall be construed so as to affect the authority vested in the Mayor of the District of Columbia by Reorganization Plan No. 5 of 1952 (66 Stat. 824). The performance of any function vested by this chapter in the Mayor or in any office or agency under the j…

For the purposes of this chapter, the term: (1) “Applicant” means an individual, or other person designated by the Commissioner by rule, applying for any of the following: (A) An initial license as a resident insurance producer pursuant to Chapter 11A of this title [§ 31-1131.01 …

(a) The Commissioner shall require state and national criminal history record background checks of each applicant for the purpose of determining eligibility for a license, registration, or charter. In order for the Commissioner to obtain and receive national criminal history reco…

(a) The Commissioner shall: (1) Treat and maintain applicants’ fingerprints and any criminal history record background information obtained under this chapter as confidential; (2) Apply security measures consistent with the Criminal Justice Information Services Division of the Fe…

The Commissioner, pursuant to Chapter 5 of Title 2 [§ 2-501 et seq.], may issue rules to implement the provisions of this chapter.

For the purposes of this chapter, the term: (1) “Delivered by electronic means” means delivery to an electronic mail address at which a party has consented to receive notices or documents or the posting on an electronic network or site accessible via the Internet, mobile applicat…

(a) An insurance document may be delivered, stored, and presented by electronic means; provided, that it meets the requirements of Chapter 49 of Title 28. (b) Delivery of an insurance document in accordance with this section shall be considered the equivalent to any delivery meth…

Notwithstanding any provision of § 31-651.02, standard property and casualty insurance policies and endorsements that do not contain personally identifiable information may be mailed, delivered, or posted on the insurer’s website. If the insurer elects to post insurance policies …

For the purposes of this subchapter, the term: (1) “Affiliate” means a person that directly, or indirectly through 1 or more intermediaries, controls, or is controlled by, or is under common control with, the person specified. (1A) “Commissioner” means the Commissioner of Insuran…

(a) Any domestic insurer, either by itself or in cooperation with 1 or more persons, may organize or acquire 1 or more subsidiaries. The subsidiaries may conduct any kind of business and their authority to do so shall not be limited by reason of the fact that they are subsidiarie…

(a)(1) No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, enter into any agreement to exchange securities, or seek to acquire, or acquire, in the open market or otherwise, any voting security of a domestic insurer, if, after c…

(a) For the purposes of this section, the term: (1) “Acquisition” means any agreement, arrangement, or activity the consummation of which results in a person acquiring, directly or indirectly, the control of another person, and includes, but is not limited to, the acquisition of …

(a)(1) Every insurer which is authorized to do business in the District and which is a member of an insurance holding company system shall register with the Mayor, except a foreign insurer subject to registration requirements and standards adopted by statute or regulation in the …

(a)(1) Transactions within a holding company system to which an insurer subject to registration is a party shall be subject to the following standards: (A) The terms shall be fair and reasonable; (A-i) Agreements for cost sharing services and management shall include such provisi…

(a) Subject to the limitation contained in this section and in addition to the powers that the Mayor has under the insurance laws of the District relating to the examination of insurers, the Mayor shall have the power to examine any insurer registered under § 31-705 and the insur…

(a) With respect to any insurer registered under § 31-705, and in accordance with subsection (c) of this section, the Mayor shall have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international…

(a) Documents, materials, or other information in the possession or control of the Department of Insurance, Securities, and Banking that are obtained by or disclosed to the Commissioner or any other person in the course of an examination or investigation made under § 31-707, and …

The Mayor shall, pursuant to subchapter I of Chapter 5 of Title 2 [§ 2-501 et seq.], issue rules to implement the provisions of this subchapter.

(a) Whenever it appears to the Mayor that any insurer or any director, officer, employee, or agent has committed, or is about to commit, a violation of this subchapter or of any rule, regulation, or order issued by the Mayor, the Mayor may apply to the Superior Court of the Distr…

(a)(1) Any insurer failing, without just cause, to file any registration statement as required in this subchapter shall be required, after notice and hearing, to pay an administrative penalty of $1,000 for each day’s delay, to be recovered by the Mayor and the penalty so recovere…

Whenever it appears to the Mayor that any person has committed a violation of this subchapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shar…

(a) If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order shall have a right to recover on behalf of the insurer, (i) from any parent corporation or holding company or person or affiliate who otherwise control…

Whenever it appears to the Mayor that any person has committed a violation of this subchapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the Mayor may, after giving notice and an opportunity to be heard, suspend, re…

(a) Any person aggrieved by any act, determination, rule, regulation, or order or any other action of the Mayor pursuant to this subchapter may appeal to the District of Columbia Court of Appeals, in accordance with § 2-510. (b) The filing of an appeal pursuant to this section sh…

(a) A domestic mutual insurance company, upon approval of the Commissioner, may reorganize by directly or indirectly forming an insurance holding company based upon a mutual plan. The reorganized insurance company shall continue, without interruption, its corporate existence as a…

(a) A domestic mutual insurance company, upon the approval of the Commissioner, may reorganize by merging its policyholders’ membership interests into a mutual insurance holding company formed pursuant to this section and continuing the corporate existence of the reorganizing ins…

(a) A mutual insurance holding company resulting from a reorganization of a domestic mutual insurance company organized under Chapter 44 of this title shall be incorporated pursuant to Chapter 44 of this title. The articles of incorporation and any amendments to such articles of …

(a) A mutual insurance holding company is deemed to be an insurer subject to Chapter 13 of this title, and shall automatically be a party to any proceeding under Chapter 13 of this title involving an insurance company, which as a result of a reorganization pursuant to § 31-731 or…

(a) Section 19 of the Life Insurance Act is not applicable to a reorganization or merger pursuant to this section. (b) A membership interest in a domestic mutual insurance holding company shall not constitute a security as defined in § 31-603. (c) A mutual holding company created…

If the mutual company complies substantially and in good faith with the notice requirements of this subchapter, 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 subchapter.

Any action challenging the validity of or arising out of acts taken or proposed to be taken under this subchapter shall be commenced within 30 days after the date of the issuance of any order by the Commissioner pursuant to this subchapter. In any action challenging the validity …

(a) Subject to applicable requirements of this subchapter and subchapter I of this chapter, a mutual insurance holding company may: (1) Merge or consolidate with, or acquire the assets of, a mutual insurance holding company licensed pursuant to this subchapter or any similar enti…

The Mayor, pursuant to subchapter I of Chapter 5 of Title 2, may issue rules and regulations to implement the provisions of this subchapter.

For the purposes of this subchapter, the term: (1) “Reciprocal insurance company” includes an interinsurance exchange but shall not include a risk retention group as defined in § 31-4101(12). (2) “Voting shares” means shares entitling the holder to vote for the election of direct…

(a) Upon approval of the Commissioner, a domestic reciprocal insurance company may form a mutual insurance holding company that directly or indirectly owns the insurance company, based upon a conversion plan. The reorganized insurance company shall continue, without interruption,…

(a) Upon approval of the Commissioner, a domestic or foreign reciprocal or mutual insurance company may merge its policyholders’ membership interests into a mutual insurance holding company formed pursuant to this section and continue, without interruption, the existence of the i…

A mutual insurance holding company resulting from a conversion of a domestic reciprocal insurance company shall be incorporated pursuant to Chapter 3 of Title 29 and shall be subject to Chapters 1, 2, and 3 of Title 29 to the extent that those provisions are not in conflict with …

(a) A mutual insurance holding company shall be deemed to be an insurer subject to Chapter 13 of this title (“Insurers Rehabilitation and Liquidation Act”), and shall automatically be a party to any proceeding under the Insurers Rehabilitation and Liquidation Act involving an ins…

(a) A membership interest in a mutual insurance holding company shall not constitute an equity security as defined in § 31-603. (b) A mutual insurance holding company created under this subchapter shall have the same powers to borrow or assume liability as a reciprocal insurance …

If the reciprocal insurance company complies substantially and in good faith with the notice requirements of this subchapter, the reciprocal insurance company’s failure to give any member or members any required notice shall not impair the validity of any action taken under this …

Any action challenging the validity of, or arising out of acts taken or proposed to be taken under, this subchapter shall be commenced within 30 days after the effective date of any plan submitted for approval pursuant to this subchapter.

Chapter 9 of this title shall be applicable to the conversion of a mutual insurance holding company formed under this subchapter to a stock company as if the mutual insurance holding company were a mutual insurance company.

The Mayor, pursuant to subchapter I of Chapter 5 of Title 2 may issue rules and regulations to implement the provisions of this subchapter.

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