Except as otherwise provided in § 31-2502.14, no mutual company shall be authorized to transact business in the District unless the name of such company shall include the word “mutual,” and no reciprocal or interinsurance exchange shall be authorized to transact business in the District unless the name or designation under which reciprocal or interinsurance contracts are to be exchanged shall include the words “reciprocal” or “interinsurance exchange,” or be supplemented by the following words immediately below the name or designation under which such contracts are exchanged: “A reciprocal” or “an interinsurance exchange.”

History

Oct. 9, 1940, 54 Stat. 1076, ch. 792, ch. II, § 24

Prior Codifications

1973 Ed., § 35-1328.

1981 Ed., § 35-1528.

Section References

This section is referenced in § 31-2502.14.