Any company which makes insurance or reinsurance the performance of which is not guaranteed by the reserves required by this subdivision, but is contingent upon the payment of assessments or calls made upon its members, shall not be formed, admitted, or licensed in the District.

History

June 19, 1934, 48 Stat. 1142, ch. 672, ch. II, § 32

May 4, 1950, 64 Stat. 104, ch. 157, § 3

Prior Codifications

1973 Ed., § 35-431.

1981 Ed., § 35-431.