§ 31-101. Definitions.

Current through October 23, 2012

For the purposes of this subchapter, the term:

(1) "Associate Commissioner for Securities and Banking" means the Associate Commissioner of the Securities and Banking Bureau.

(2) "Commissioner" means the Commissioner of the Department of Insurance, Securities, and Banking, who shall be the chief executive officer of the Department of Insurance, Securities, and Banking.

(3) "Department" means the Department of Insurance, Securities, and Banking.

(4) "Deputy Commissioner" means the Deputy Commissioner of the Department of Insurance, Securities, and Banking.

(5) "District of Columbia Banking Code" means the statutory provisions concerning banking and financial institutions codified in Title 26, laws administered by the Commissioner, and rules and regulations promulgated under those statutory provisions and laws.

(6) "Insurance Bureau" means the office overseeing the regulation of insurance, insurers, and health maintenance organizations.

(7) "Securities and Banking Bureau" means the office administering the District of Columbia Banking Code and overseeing the regulation of securities.

                
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(May 21, 1997, D.C. Law 11-268, § 2, 44 DCR 1730; June 11, 2004, D.C. Law 15-166, § 3(a), 51 DCR 2817; Apr. 13, 2005, D.C. Law 15-354, § 98, 52 DCR 2638; Sept. 24, 2010, D.C. Law 18-223, § 2112(a), 57 DCR 6242.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 35-121.

Effect of Amendments

D.C. Law 15-166 redesignated par. (1) as paragraph (1B); in the redesignated par. (1B), substituted "Commissioner of the Department of Insurance, Securities, and Banking" for "Commissioner of Insurance and Securities"; rewrote par. (1); added par. (1A); and in par. (2), substituted "Department of Insurance, Securities, and Banking" for "Department of Insurance and Securities Regulation". Prior to amendment, par. (1) had read as follows:

"(1) 'Commissioner' means the Commissioner of Insurance and Securities, who shall be the chief executive officer of the Department of Insurance and Securities Regulation."

D.C. Law 15-354 validated a previously made technical correction.

D.C. Law 18-223 rewrote the section , which had read as follows:

"For the purposes of this subchapter, the term:

"(1) 'Banking Bureau' means the Bureau of Banking and Financial Institutions.

"(1A) 'Banking Director' means the Director of the Bureau of Banking and Financial Institutions.

"(1B) 'Commissioner' means the Commissioner of the Department of Insurance, Securities, and Banking, who shall be the chief executive officer of the Department of Insurance, Securities, and Banking.

"(2) 'Department' means the Department of Insurance, Securities, and Banking.

"(3) 'Deputy Commissioner' means the director of operations of the Insurance Bureau.

"(4) 'District' means the District of Columbia.

"(5) 'Insurance Bureau' means the office overseeing regulation of insurance, insurers and health maintenance organizations.

"(6) 'Securities Bureau' means the office overseeing regulation of securities.

"(7) 'Securities Director' means the Director of the Securities Bureau."

Emergency Act Amendments

For temporary (90 day) amendment of section, see § 3(a) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).

For temporary (90 day) amendment of section, see § 2112(a) of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).

Legislative History of Laws

Law 11-268, the "Department of Insurance and Securities Regulation Establishment Act of 1996," was introduced in Council and assigned Bill No. 11- 415, which was referred to the Committee on Consumer and Regulatory Affairs. The Bill was adopted on first and second readings on November 7, 1996, and December 3, 1996, respectively. Signed by the Mayor on December 30, 1996, it was assigned Act No. 11-524 and transmitted to both Houses of Congress for its review. D.C. Law 11-268 became effective May 21, 1997.

Law 15-166, the "Consolidation of Financial Services Amendment Act of 2004", was introduced in Council and assigned Bill No. 15-518, which was referred to the Committee on Consumer and Regulatory Affairs. The Bill was adopted on first and second readings on January 6, 2004, and February 3, 2004, respectively. Signed by the Mayor on February 27, 2004, it was assigned Act No. 15-385 and transmitted to both Houses of Congress for its review. D.C. Law 15-166 became effective on June 11, 2004.

Law 15-354, the "Technical Amendments Act of 2004", was introduced in Council and assigned Bill No. 15-1130 which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on December 7, 2004, and December 21, 2004, respectively. Signed by the Mayor on February 9, 2005, it was assigned Act No. 15-770 and transmitted to both Houses of Congress for its review. D.C. Law 15-354 became effective on April 13, 2005.

Law 18-223, the "Fiscal Year 2011 Budget Support Act of 2010", was introduced in Council and assigned Bill No. 18-731, which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on May 26, 2010, and June 15, 2010, respectively. Signed by the Mayor on July 2, 2010, it was assigned Act No. 18-462 and transmitted to both Houses of Congress for its review. D.C. Law 18-223 became effective on September 24, 2010.

Miscellaneous Notes

Short title: Section 2111 of D.C. Law 18-223 provided that subtitle K of title II of the act may be cited as the "Department of Insurance, Securities, and Banking Reorganization Amendment Act of 2010".