D.C. Mun. Regs. tit. 26-A, § 3713
Suspension or Revocation of Captive License
Effective Nov 16, 201259 DCR 13088Authority: Section 22 of the Captive Insurance Company Act of 2004, effective March 17, 2005 (D.C. Law 15-262; D.C. Official Code § 31-3931.21 (2011 Repl.)). Source: Final Rulemaking published at 48 DCR 8034(August 24, 2001); as amended by Final Rulemaking published at 59 DCR 13088 (November 16, 2012).District of Columbia, Office of the Secretary
3713.1 The Commissioner may, subject to the provisions of this section, by order suspend or revoke the license of the company:
- (a) if the company has not commenced business according to its plan of operation within two years of being licensed; or
- (b) if the company ceases to carry on insurance business in or from within the District;
- (c) at the request of the company; or
- (d) for any reason provided in Section 16 of the Act.
3713.2 Before the Commissioner suspends or revokes the license of a company pursuant to section § 3713.1, the Commissioner shall give the company notice in writing of the grounds on which he proposes to suspend or revoke the license, and shall afford the company an opportunity for a hearing within the period of thirty days after receipt of notice.
SOURCE: Final Rulemaking published at 48 DCR 8034 (August 24, 2001); as amended by Final Rulemaking published at 59 DCR 13088 (November 16, 2012).