§ 31-5510. Prevention of insolvencies.

Current through October 23, 2012

To aid in the detection and prevention of insurer insolvencies:

(1) The board of directors may, upon majority vote:

(A) Make recommendations to the Mayor for the detection and prevention of insurer insolvencies; and

(B) Respond to requests by the Mayor to discuss and make recommendations regarding the status of any member insurer whose financial condition may be hazardous to policyholders or the public. The recommendations shall not be considered public documents.

(2) The board of directors may, at the conclusion of any domestic insurer insolvency in which the Association was obligated to pay covered claims, prepare a report on the history and causes of the insolvency, based on the information available to the Association, and submit the report to the Mayor.

                
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(Oct. 21, 1993, D.C. Law 10-51, § 11, 40 DCR 6120.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 35-3910.

Legislative History of Laws

For legislative history of D.C. Law 10-51, see Historical and Statutory Notes following § 31-5501.