§ 31-4107. Notice and registration requirements of purchasing groups.

Current through October 23, 2012

(a) A purchasing group which intends to do business in the District shall, prior to doing business, furnish notice to the Commissioner which shall:

(1) Identify the state in which the group is domiciled;

(2) Identify all other states in which the group intends to do business;

(3) Specify the lines and classifications of liability insurance which the purchasing group intends to purchase;

(4) Identify the insurance company or companies from which the group intends to purchase its insurance and the domicile of each company;

(5) Specify the method by which, and the person or persons, if any, through whom, the insurance will be offered to its members whose risks are resident or located in the District;

(6) Identify the principal place of business of the group; and

(7) Provide any other information required by the Commissioner to verify that the purchasing group is qualified under § 31-4101(11).

(b) A purchasing group shall, within 10 days, notify the Commissioner of any changes in any of the items set forth in subsection (a) of this section.

(c) The purchasing group shall register with the District and provide proof of compliance with the service of process provisions of § 31-202, for which a filing fee shall be determined by the Commissioner, except that these requirements shall not apply in the case of a purchasing group which only purchases insurance that was authorized under the federal Product Liability Risk Retention Act of 1981 (15 U.S.C. § 3901 et seq.), and:

(1) Which was domiciled in any state of the United States before April 1, 1986, and after October 27, 1986;

(2) Which purchased insurance from an insurance carrier licensed in any state before October 27, 1986, and since October 27, 1986; or

(3) Which was a purchasing group under the requirements of the federal Product Liability Risk Retention Act of 1981 (15 U.S.C. § 3901 et seq.), before October 27, 1986.

(d) Each purchasing group that is required to give notice pursuant to subsection (a) of this section shall also furnish information required by the Commissioner to:

(1) Verify that the entity qualifies as a purchasing group;

(2) Determine where the purchasing group is located; and

(3) Determine appropriate tax treatment.

(e) Any purchasing group which was doing business in the District prior to the enactment of this chapter shall, within 30 days after October 21, 1993, furnish notice to the Mayor pursuant to the provisions of subsection (a) of this section and furnish the information required pursuant to subsections (b) and (c) of this section.

                
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(Oct. 21, 1993, D.C. Law 10-46, § 8, 40 DCR 6082; Mar. 21, 1995, D.C. Law 10-233, § 9, 42 DCR 24; May 21, 1997, D.C. Law 11-268, § 10(aa)(2), 44 DCR 1730.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 35-2907.

Legislative History of Laws

For legislative history of D.C. Law 10-46, see Historical and Statutory Notes following § 31-4101.

For legislative history of D.C. Law 10-233, see Historical and Statutory Notes following § 31-4103.

For legislative history of D.C. Law 11-268, see Historical and Statutory Notes following § 31-4101.