4001

4001.1

Any captive insurer may organize or reorganize and operate as a reciprocal insurer, subject to the act and these regulations. These regulations shall apply to all captive insurers organized as reciprocal insurers. It specifies the terms on which a reciprocal insurer may receive a certificate of authority and operate in the District of Columbia. These regulations provide for the licensing and regulation of reciprocal insurers, the conversion of a domestic stock or mutual insurance company into a domestic reciprocal insurer, the merger of a domestic reciprocal insurer with another reciprocal insurer, and the conversion of a domestic reciprocal insurer into a stock or mutual insurance company.

Source: Notice of Emergency and Proposed Rulemaking published at 54 DCR 12099 (December 14, 2007)[EXPIRED]; as amended by Notice of Final Rulemaking published at 55 DCR 479 (January 18, 2008).