Title 31, Insurance and Securities.

For the purpose of this chapter, the term: (1) “Abstract of title” means a written history, synopsis, or summary of the recorded instruments affecting a title to real property. (2) “Affiliate” means, with respect to a person, another person that directly, or indirectly through on…

(a) A person shall not act in the capacity of a title insurance producer and a title insurer shall not contract with any person to act in the capacity of a title insurance producer with respect to risks located in the District unless the person is licensed as a title insurance pr…

(a) The Commissioner, during normal business hours, may examine, audit, and inspect any and all books and records required and maintained by a title insurance producer; provided, that trust accounts maintained by attorneys shall be subject to any privilege permitted by law and pr…

A title insurance producer shall maintain sufficient records of its affairs, including its escrow operations, if any, and escrow trust accounts, if any, so that the Commissioner may adequately ensure that the title insurance producer is in compliance with this chapter. The Commis…

(a) Unless otherwise agreed upon in writing, if a title insurance commitment is issued before issuing an owners title insurance policy, the title insurance producer or insurer shall furnish the title insurance commitment no later than the time of closing. The commitment shall be …

(a) All funds deposited with the title insurance producer or insurer in connection with an escrow, settlement, closing, or indemnity deposit shall be submitted for collection to or deposited in a fiduciary trust account in accordance with Chapter 24 of Title 42 [§ 42-2401 et seq.…

(a) In a real or personal property transaction, a title insurance producer, a title insurer, or any employee or representative of a title insurance producer or a title insurer, shall not pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, as an inducemen…

A person acting in the capacity of a title insurance producer shall not place business with a title insurer unless there is in force a written contract between the parties which sets forth the responsibilities of each party, and, if both parties share responsibility for a particu…

(a) If the Commissioner determines that the title insurance producer or any other person has violated this chapter, or any rule or order promulgated under this chapter, after notice and opportunity to be heard, the Commissioner may order: (1) A penalty not exceeding $2,500 for th…

The Commissioner or Attorney General for the District of Columbia may bring an action to enjoin or seek remedies for violations of RESPA.

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

(a) This chapter shall: (1) Apply to all persons engaged in the business of title insurance in the District; (2) Supplement the provisions of Chapter 11A of this title [§ 31-1131.01 et seq.]. (b) This chapter shall not: (1) Except as otherwise provided, limit the application of a…

For purposes of this chapter, the term: (1) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking. (2) “Customer” means a person who purchases portable electronics or services. (3) “District” means the District of Columbia. (4) “Enrolled cu…

(a) A vendor is required to hold a limited-lines license to sell or offer coverage under a policy of portable electronics insurance. (b)(1) A limited-lines license issued under this section shall authorize any employee or authorized representative of the vendor to sell or offer c…

(a) Charges for portable electronics insurance coverage may be billed and collected by the vendor of portable electronics. Any charge to the enrolled customer for coverage that is not included in the cost associated with the purchase or lease of portable electronics or related se…

(a) Notwithstanding any other provision of law: (1) An insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the policyholder and enrolled customers with at least 30 days notice. (2) If the insurer cha…

(a) A vendor shall report any violation of this chapter to the Commissioner within 30 days of discovery of the violation by the vendor. (b) If a vendor of portable electronics or its employee or authorized representative violates any provision of this chapter, the Commissioner ma…

The Mayor, pursuant to subchapter I of Chapter 5 of Title 2 [§ 2-501 et seq.], may issue rules to implement the provisions of this chapter. The proposed rules shall be submitted to the Council for a 45-day period of review, excluding Saturdays, Sundays, legal holidays, and days o…

(a) This chapter regulating credit life insurance and credit accident and health insurance in the District of Columbia may be cited as “The Act for the Regulation of Credit Life Insurance and Credit Accident and Health Insurance.” (b) All life insurance and all accident and healt…

For the purpose of this chapter: (1) “Mayor” means the Mayor of the District of Columbia. (1A) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking. (2) “Credit life insurance” means insurance issued on the life of a debtor pursuant to or …

Credit life insurance and credit accident and health insurance shall be issued only in the following forms: (1) Individual policies of life insurance issued to debtors on the term plan; (2) Individual policies of accident and health insurance issued to debtors on a term plan or d…

(a) The amount of credit life insurance shall not exceed the initial indebtedness however the indebtedness may be repayable; provided, however, that nothing contained herein shall be deemed to supersede or repeal the limitation on the amount of group insurance specified in § 31-4…

The term of any credit life insurance or credit accident and health insurance shall, subject to acceptance by the insurance company, commence on the date when the debtor becomes obligated to the creditor, except that where a group policy provides coverage with respect to existing…

(a) All credit life insurance and credit accident and health insurance shall be evidenced by an individual policy or in the case of group insurance by a group policy and individual certificates of insurance. (b) Each individual policy or certificate of credit life insurance, each…

(a) All forms of policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements and riders delivered or issued for delivery in the District and the premium rates pertaining thereto shall be filed with the Commissioner by the …

(a) Each individual policy or certificate of credit life insurance or credit accident and health insurance shall provide that in the event of termination of the insurance prior to the scheduled maturity date of the indebtedness, any refund of an amount paid by the debtor for insu…

(a) All claims shall be paid either by draft drawn upon the insurance company or by check of the insurance company to the order of the claimant to whom payment of the claim is due pursuant to the policy provisions, or upon direction of such claimant to one specified, and every in…

(a) In the case of any violation of this chapter by an insurance company, agent, solicitor, or broker, the Commissioner shall have authority to proceed in accordance with the provisions of §§ 31-4305 and 31-4326 [repealed] and §§ 31-2502.03 and 31-2502.36 [repealed]. (b) In the c…

Any insurance company, agent, solicitor, or broker aggrieved by any order or action of the Commissioner under this chapter may contest the validity of such order or action by appeal or through any other appropriate proceeding, in accordance with the procedures prescribed by §§ 31…

(a) All life and fire insurance companies or associations licensed to do business in said District shall be required to maintain a reinsurance reserve fund; and whenever any such company or association not excepted from the operations hereof shall become insolvent or impaired to …

Every corporation, joint-stock company, or association not exempt herein, transacting business in the District of Columbia, which collects premiums, dues, or assessments from its members or from holders of its certificates or policies, and which provides for the payment of indemn…

Each life insurance company, benefit order, and association doing a life insurance business in the District of Columbia shall deliver with each policy issued by it a copy of the application made by the insured so that the whole contract may appear in said application and policy, …

(a) Any corporation now or hereafter formed or organized under any provision of law in force and effect in the District of Columbia to engage in an insurance business shall maintain its principal office within said District and shall keep its books, records, and files therein, an…

Every insurance corporation or association authorized to transact business in the District of Columbia, which insures employers against liability for compensation under the Employees’ Compensation Act, shall file with the Commissioner of Insurance and Securities [Commissioner of …

For the purpose of this chapter, the term: (1) “Affiliate” means: (A) Any person, directly or indirectly, beneficially owning (whether through rights, options, convertible interests, or otherwise), controlling, or holding power to vote 15% or more of the outstanding voting securi…

(a) The Commissioner shall begin accepting applications for certification as a Certified Capital Company not later than 150 days after March 10, 2004. An applicant for certification as a Certified Capital Company shall pay a nonrefundable application fee of $15,000 at the time of…

(a) Any Certified Investor who makes an investment of Certified Capital pursuant to an allocation of Premium Tax Credits under § 31-5234 shall, in the year of investment, earn a Premium Tax Credit in the amount of the Certified Investor’s investment of Certified Capital. (b) A Ce…

(a) The aggregate amount of Premium Tax Credits that shall be allowed for all Certified Investors under this chapter shall not exceed $50 million. No Certified Capital Company, on an aggregate basis with its Affiliates, shall file Premium Tax Credit Allocation Requests in excess …

(a) To continue to be certified, a Certified Capital Company shall make Qualified Investments according to the following schedule: (1) Within the period ending 30 months after its Allocation Date, a Certified Capital Company shall have made Qualified Investments cumulatively equa…

(a) A Certified Capital Company may make Qualified Distributions at any time. To make a distribution, other than a Qualified Distribution, a Certified Capital Company shall have made Qualified Investments in an amount cumulatively equal to 100% of its Certified Capital. A Certifi…

(a) The Commissioner shall conduct an annual review of each Certified Capital Company to determine if the Certified Capital Company is complying with the requirements of certification, to advise the Certified Capital Company as to the eligibility status of its Qualified Investmen…

The Premium Tax Credits may be transferred or sold. The Commissioner shall promulgate regulations to facilitate the transfer or sale of Premium Tax Credits. Any the transfer or sale shall not affect the time schedule for claiming the Premium Tax Credits. Any Premium Tax Credits r…

All fees collected pursuant to this chapter shall be deposited in the Insurance Regulatory Trust Fund established by § 31-1202 and expended for the purposes authorized by the Fund.

(a) Information, records, or other data received, prepared, used, or retained by the Commissioner pursuant to this subsection shall not be subject to the disclosure requirements of subchapter II of Chapter 5 of Title 2 to the extent that: (1) The information, records, or other da…

The Commissioner may grant a business a 6-month waiver from any of the eligibility criteria to receive an Initial Investment if the Commissioner finds that the business will meet the eligibility criteria to receive an Initial Investment within 6 months of the date of issuance of …

The Commissioner shall issue rules and regulations to implement this chapter within 120 days of March 10, 2004.