§ 31-1703. Conversion to foreign insurer.

Current through October 23, 2012

Any domestic insurer may, upon the approval of the Commissioner, transfer its domicile to any state in which it is admitted to transact the business of insurance, and upon such a transfer shall cease to be a domestic insurer and shall be admitted to the District, if qualified, as a foreign insurer. The Commissioner shall approve any proposed transfer unless he or she determines such a transfer is not in the best interest of the policyholders of the District.

                
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(May 24, 1996, D.C. Law 11-127, § 4, 43 DCR 1559; Mar. 24, 1998, D.C. Law 12-81, § 44(b), 45 DCR 745; Apr. 13, 2005, D.C. Law 15-354, § 46(b), 52 DCR 2638.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 35-4303.

Effect of Amendments

D.C. Law 15-354 deleted "of Insurance and Securities" following "approval of the Commissioner".

Legislative History of Laws

For legislative history of D.C. Law 11-127, see Historical and Statutory Notes following § 31-1701.

For legislative history of D.C. Law 12-81, see Historical and Statutory Notes following § 31-1701.

For Law 15-354, see notes following § 31-101.