An insurance agent, solicitor, or broker who acts in negotiating or renewing or continuing a contract of insurance for a company lawfully doing business in the District, and who receives any money or substitute for money as a premium for such a contract from the insured, whether he shall be entitled to an interest in same or otherwise, shall be deemed to hold such premium in trust for the company making the contract. If he fails to pay the same over to the company after written demand made upon him therefor, such failure shall be prima facie evidence that he has used or applied the said premium for a purpose other than paying the same over to the company, and upon conviction thereof he shall be deemed guilty of theft and punished accordingly.
(June 19, 1934, 48 Stat. 1142, ch. 672, ch. II, § 30; Aug. 2, 1983, D.C. Law 5-24, § 15, 30 DCR 3341.)
1981 Ed., § 35-429.
1973 Ed., § 35-429.
This section is referenced in § 31-3503.
Structure District of Columbia Code
Title 31 - Insurance and Securities
Chapter 43 - Department of Insurance, Securities, And Banking with Respect to Life Companies
§ 31–4302. Collection of charges and fees
§ 31–4303. Disposition of excess in fees, charges, or taxes
§ 31–4304. Certificate of authority — Investigation of qualifications; effect; Issuance
§ 31–4306. Annual financial statement — Forms to be furnished by Superintendent. [Repealed]
§ 31–4308. Companies or agents not to make or publish false statements. [Repealed]
§ 31–4309. Representation of financial standing—All companies or agents. [Repealed]
§ 31–4310. Representation of financial standing — Alien companies; violations
§ 31–4311. Defamatory or injurious false statements against companies. [Repealed]
§ 31–4312. Commissioner authorized to issue subpoenas; enforcement
§ 31–4313. Enforcement of Commissioner’s orders or actions
§ 31–4314. False statements in application for policy
§ 31–4318. Examinations; reports; expenses. [Repealed]
§ 31–4320. Companies deemed insolvent [Repealed]
§ 31–4321. Reinsurance by Superintendent [Repealed]
§ 31–4322. Valuation of securities. [Repealed]
§ 31–4328. Brokers; issuance, revocation and renewal of required license; violations [Repealed]
§ 31–4329. Disposition of premiums paid to agents
§ 31–4330. Contractual rights of minors