No company shall be exempt from the provisions of this chapter by reason of its having been incorporated in the District or elsewhere prior to the effective date of this chapter, except that, in the case of companies authorized in the District on October 9, 1940, and continuously thereafter without any increase of authority, the minimum capital and surplus required of a stock company, and the minimum surplus required of a mutual or reciprocal company, or of a Lloyd’s organization, by the laws of the District heretofore applicable shall not be increased by this chapter, and provided also that in the case of such continuously authorized companies the provisions of § 31-2502.24 relating to the names of companies, and the provisions of § 31-2502.25 relating to the amount of surplus necessary to the issuance of policies having no provision for contingent liability, shall not be applicable.
(Oct. 9, 1940, 54 Stat. 1070, ch. 792, ch. II, § 14; Aug. 14, 1973, 87 Stat. 304, Pub. L. 93-89, title IV, § 401; Feb. 23, 1980, D.C. Law 3-52, § 4, 27 DCR 26.)
1981 Ed., § 35-1517.
1973 Ed., § 35-1317.
This section is referenced in § 31-2502.24 and § 31-2502.25.
“The effective date of this chapter,” referred to near the beginning of the section, means the effective date of the Act of October 9, 1940. Section 48 of such Act provided that the Act would become effective 30 days after October 9, 1940.
Structure District of Columbia Code
Title 31 - Insurance and Securities
Chapter 25 - Fire, Casualty, and Marine Insurance
Subchapter II - Powers and Duties of the Commissioner
§ 31–2502.01. Records of Commissioner; rules and regulations
§ 31–2502.02. Certificate of authority to do business — Issuance or renewal
§ 31–2502.03. Certificate of authority to do business — Revocation or suspension
§ 31–2502.04. Cessation of business
§ 31–2502.05. Receivership proceedings. [Repealed]
§ 31–2502.06. Receivership proceedings; insolvency; impairment. [Repealed]
§ 31–2502.07. Receivership proceedings; insolvency; impairment. [Repealed]
§ 31–2502.08. Required annual financial statements. [Repealed]
§ 31–2502.09. Making or publishing material false statements
§ 31–2502.11. Kinds of insurance authorized
§ 31–2502.12. Limitations on exposure to risks or hazards
§ 31–2502.13. Minimum capital and surplus requirements
§ 31–2502.14. Applicability of provisions to existing companies
§ 31–2502.15. Formation of domestic companies
§ 31–2502.16. Acquisition, use and disposition of real estate by domestic companies. [Repealed]
§ 31–2502.17. Power of domestic mutual companies to borrow or assume liability
§ 31–2502.18. Investment of funds by domestic companies. [Repealed]
§ 31–2502.19. Exclusive agency contracts of domestic companies
§ 31–2502.20. Authority to transact business — Foreign or alien companies
§ 31–2502.20a. Authority to transact business — Lloyd’s organizations
§ 31–2502.23. Service of process upon foreign or alien companies. [Repealed]
§ 31–2502.25. Premiums of mutual companies
§ 31–2502.26. Company reserves. [Repealed]
§ 31–2502.26a. Actuarial opinion of reserves
§ 31–2502.26b. Confidentiality of actuarial opinions, summaries, reports, and workpapers
§ 31–2502.27. Filing and approval of policy forms
§ 31–2502.28. Rate and form filing requirements for accident and health policies
§ 31–2502.29. Discriminations prohibited
§ 31–2502.30. Powers of agents, salaried employees and brokers. [Repealed]
§ 31–2502.31. Compensation of unlicensed persons prohibited
§ 31–2502.32. Procedure for obtaining licenses [Repealed]
§ 31–2502.33. Effective dates [Repealed]
§ 31–2502.34. Temporary transfer of licenses [Repealed]
§ 31–2502.35. Renewal of licenses [Repealed]
§ 31–2502.36. Revocation and suspension of licenses [Repealed]
§ 31–2502.37. Unauthorized solicitation or representation [Repealed]
§ 31–2502.38. Exceptions to licensing provisions
§ 31–2502.39. Persons not to act for unauthorized companies
§ 31–2502.40. License to procure policies from unauthorized companies
§ 31–2502.42. Violations of provisions
§ 31–2502.43. Appeals from Commissioner to Mayor [Repealed]