For purposes of this chapter, the term:

1. (1) “Domestication” means the reorganization under this chapter of the United States branch of a Non-U.S. insurer whereby a domestic or foreign insurer acquires all the business and assets and assumes all the liabilities of the branch.
2. (2) “Domestic insurer” means a stock insurance company incorporated under the laws of the District of Columbia.
3. (3) “Foreign insurer” means a stock insurance company incorporated under the laws of any other state of the United States.
4. (4) “Non-U.S. insurer” means a stock insurance company organized under the laws of a foreign country.
5. (5) “United States branch” means the business unit through which business is transacted within the United States by a Non-U.S. insurer and the assets and liabilities of the insurer within the United States pertaining to such business.

History

Oct. 21, 2000, D.C. Law 13-194, § 2, 47 DCR 7427