§ 31-756. Applicability; membership interest; powers.

Current through October 23, 2012

(a) A membership interest in a mutual insurance holding company shall not constitute an equity security as defined in § 31-603.

(b) A mutual insurance holding company created under this subchapter shall have the same powers to borrow or assume liability as a reciprocal insurance company organized under District law.

                
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(May 12, 1998, D.C. Law 12-112, § 7, 45 DCR 1794.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 35-3746.

Emergency Act Amendments

See Historical and Statutory Notes following § 31-751.

Legislative History of Laws

For legislative history of D.C. Law 12-112, see Historical and Statutory Notes following § 31-751.