§ 31-751. Definitions.

Current through October 23, 2012

For the purposes of this subchapter, the term:

(1) "Reciprocal insurance company" includes an interinsurance exchange but shall not include a risk retention group as defined in § 31-4101(12).

(2) "Voting shares" means shares entitling the holder to vote for the election of directors of the issuer except that shares which can be voted only in the case of the occurrence of an event or an extraordinary action are not voting shares.

                
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(May 12, 1998, D.C. Law 12-112, § 2, 45 DCR 1792.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 35-3741.

Emergency Act Amendments

For temporary addition of this subchapter, comprised of §§ 35-3741 through 35- 3750 [1981 Ed.] see §§ 2-11 of the Reciprocal Insurance Company Conversion Emergency Amendment Act of 1998 (D.C. Act 12-298, March 4, 1998, 45 DCR 1775).

Legislative History of Laws

Law 12-112, the "Reciprocal Insurance Company Conversion Act of 1998," was introduced in Council and assigned Bill No. 12-445. The Bill was adopted on first and second readings on January 6, 1998, and February 3, 1998, respectively. Signed by the Mayor on February 24, 1998, it was assigned Act No. 12-301 and transmitted to both Houses of Congress for its review. D.C. Law 12-112 became effective on May 12, 1998.