(a) Taking into consideration the nature of the policies issued by the corporation, a corporation shall establish and maintain pro rata gross unearned premium reserves, reserves for incurred but unpaid claims (both reported and unreported), reserves for expenses related to settlement of such claims, and other reserves as required for proper reporting of its financial condition or as required under the form of financial statements required of the corporation.
(b) The reserves required under subsection (a) of this section constitute a liability of the corporation in a determination of its financial condition.
(Apr. 9, 1997, D.C. Law 11-245, § 10, 44 DCR 1158.)
1981 Ed., § 35-4709.
This section is referenced in § 31-3501.
Structure District of Columbia Code
Title 31 - Insurance and Securities
Chapter 35 - Hospital and Medical Services Corporations Regulation
§ 31–3502. Exclusivity of provisions
§ 31–3503. Applicability of other provisions
§ 31–3504. Application for certificate of authority
§ 31–3505. Requirements for issuance of certificate of authority
§ 31–3505.01. Community health reinvestment
§ 31–3506. Surplus requirements
§ 31–3506.01. Compliance and implementation of community health reinvestment obligations
§ 31–3507. Filing of provider contracts
§ 31–3508. Filing of subscriber contract forms and rates
§ 31–3512. Group subscriber contract standard provisions
§ 31–3514. Open enrollment. [Repealed]
§ 31–3514.01. Tax and related payments
§ 31–3514.02. Establishment of Healthy DC and Health Care Expansion Fund
§ 31–3515. Conversion to a for-profit entity
§ 31–3516. Conversion to a mutual company
§ 31–3517. Management contracts and service agreements
§ 31–3518. Directors and trustees
§ 31–3519. Reports to directors and trustees
§ 31–3520. Oversight role and fiduciary obligation of directors, officers, and employees
§ 31–3521. Sanctions for violations
§ 31–3523. General transition provisions