A foreign or alien company shall deliver to the Commissioner: (1) an application of the company for a certificate of authority: (2) a copy of its articles of incorporation or articles of association and amendments thereto, duly certified by the proper officer of the state or country under whose laws the company is organized or incorporated, or if reciprocal, the power of attorney of the attorney-in-fact; (3) if an alien company, a copy of the appointment and authority of its United States manager, certified by a proper officer of the company; (4) a copy of its bylaws and regulations; (5) forms of contracts and policies it proposes to issue in the District, and forms of the applications therefor, if any; (6) proof of compliance with the service of process provisions of § 31-202; (7) a statement of its financial condition and business as of the end of the preceding calendar year, complying as to form and verification with the requirements of this chapter for annual statements, or financial statement as of such later date as the Commissioner may require; (8) a copy of the last report of examination, certified to by an insurance commissioner or other proper supervisory official; and (9) a certificate from the proper official of the state or country wherein it is incorporated or organized, that it is duly incorporated or organized and is authorized to write the kind or kinds of insurance which it proposes to write in the District. Before a certificate of authority to transact business in the District is issued to a foreign or alien company, such company shall satisfy the Commissioner that: (1) the company is duly organized under the laws of the state or country under whose laws it professes to be organized and is authorized to do the business it is transacting or proposes to transact; (2) its name is not the same as, or so deceptively similar to, the name of any domestic company, or the name of any department of the federal government or existing corporation authorized to transact business in the District as to mislead the public or cause confusion; (3) if a stock company, it has a paid-up capital and surplus at least equal to the capital and surplus required by this chapter or if a mutual company or reciprocal, it has a surplus and provision for contingent liability of policyholders at least equal to the surplus and provision for contingent liability of policyholders required by this chapter; and (4) its funds are invested in accordance with the laws of its domicil, and in securities or property which afford a degree of financial security substantially equal to that required for similar domestic companies. Before issuing a certificate of authority to a foreign or alien company, the Commissioner may cause an examination to be made of the condition and affairs of such company.
(Oct. 9, 1940, 54 Stat. 1074, ch. 792, ch. II, § 22; Mar. 21, 1995, D.C. Law 10-233, § 6, 42 DCR 24; Apr. 18, 1996, D.C. Law 11-110, § 38, 43 DCR 530; Apr. 9, 1997, D.C. Law 11-255, § 39, 44 DCR 1271; May 21, 1997, D.C. Law 11-268, § 10(r)(2), 44 DCR 1730.)
1981 Ed., § 35-1526.
1973 Ed., § 35-1326.
Department of Insurance abolished: See Historical and Statutory Notes following § 31-2501.03.
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]