D.C. Code § 31-1703
Conversion to foreign insurer.
Effective Apr 13, 2005May 24, 1996, D.C. Law 11-127, § 4, 43 DCR 1559; Mar. 24, 1998, D.C. Law 12-81, § 44(b), 45 DCR 745; Apr. 13, 2005, D.C. Law 15-354, § 46(b), 52 DCR 2638
Any domestic insurer may, upon the approval of the Commissioner, transfer its domicile to any state in which it is admitted to transact the business of insurance, and upon such a transfer shall cease to be a domestic insurer and shall be admitted to the District, if qualified, as a foreign insurer. The Commissioner shall approve any proposed transfer unless he or she determines such a transfer is not in the best interest of the policyholders of the District.
History
May 24, 1996, D.C. Law 11-127, § 4, 43 DCR 1559
Mar. 24, 1998, D.C. Law 12-81, § 44(b), 45 DCR 745
Apr. 13, 2005, D.C. Law 15-354, § 46(b), 52 DCR 2638
Effect of Amendments
D.C. Law 15-354 deleted “of Insurance and Securities” following “approval of the Commissioner”.
Prior Codifications
1981 Ed., § 35-4303.