For the purposes of this subchapter, the term:

1. (1) “Reciprocal insurance company” includes an interinsurance exchange but shall not include a risk retention group as defined in § 31-4101(12).
2. (2) “Voting shares” means shares entitling the holder to vote for the election of directors of the issuer except that shares which can be voted only in the case of the occurrence of an event or an extraordinary action are not voting shares.

History

May 12, 1998, D.C. Law 12-112, § 2, 45 DCR 1792

Emergency Legislation

For temporary addition of this subchapter, comprised of §§ 35-3741 through 35-3750 1981 Ed. see §§ 2-11 of the Reciprocal Insurance Company Conversion Emergency Amendment Act of 1998 (D.C. Act 12-298, March 4, 1998, 45 DCR 1775).

Prior Codifications

1981 Ed., § 35-3741.