Every life company doing business in the District which issues both participating and nonparticipating policies shall keep the 2 classes of business separate and shall make, and include in the annual statement to be filed with the Commissioner each year, a separate statement of the gains, losses, and expenses properly attributable to each of such classes and also showing the manner in which any general outlay of expenses of the company has been apportioned to each. No such life company shall be permitted to do business in the District unless it makes such a separation of its business. This section shall not apply to paid-up, temporary, or pure endowment insurance issued or granted in exchange for lapsed or returned policies.
(June 19, 1934, 48 Stat. 1157, ch. 672, ch. V, § 2; May 21, 1997, D.C. Law 11-268, § 10(j), 44 DCR 1730.)
1981 Ed., § 35-502.
1973 Ed., § 35-702.
This section is referenced in § 31-4701.
Department of Insurance abolished: See Historical and Statutory Notes following § 31-4701.
Structure District of Columbia Code
Title 31 - Insurance and Securities
Chapter 47 - Provisions Relating to All Life Insurance Companies
§ 31–4701. Valuation of reserves by Commissioner
§ 31–4702. Companies issuing both participating and nonparticipating policies
§ 31–4703. Life policies — Required provisions
§ 31–4704. Life policies — Prohibited provisions
§ 31–4705.01. Nonforfeiture benefits and cash surrender values
§ 31–4705.02. Standard nonforfeiture law — In general
§ 31–4705.03. Standard nonforfeiture law — Individual deferred annuities
§ 31–4705.04. Loan provisions in policies
§ 31–4706. Extension of time for payment of premiums
§ 31–4707. Ascertainment of loan indebtedness
§ 31–4708. Filing and approval of life policy forms
§ 31–4709. Policy provisions required by foreign government entities
§ 31–4710. Group policies — General requirements. [Repealed]
§ 31–4711. Group policies — Required provisions
§ 31–4711.01. Group policies — Right to, and notice of, issuance of individual policy
§ 31–4712. Accident and sickness policies
§ 31–4713. Prohibited activities — Securities operations. [Repealed]
§ 31–4714. Prohibited activities—Misrepresentations. [Repealed]
§ 31–4715. Prohibited activities—Discriminations. [Repealed]
§ 31–4716. Rights of parties under life policies
§ 31–4716.01. Exemption from legal process — Disability benefits
§ 31–4717. Exemption from legal process — Group life policy or proceeds
§ 31–4718. Fraudulent statements or representations against companies. [Repealed]
§ 31–4719. Authority to hold proceeds under trust or agreement
§ 31–4720. Calculations of premiums and reserves
§ 31–4721. Acceptance and recordation of premiums on industrial life or sick-benefit policies
§ 31–4722. Industrial life policies — Required provisions
§ 31–4723. Industrial life policies — Prohibited provisions
§ 31–4724. Access to psychologists or optometrists under group health insurance policy
§ 31–4725. Policy language simplification standards
§ 31–4726. Commissioner’s review of test
§ 31–4727. Applicability of §§ 31-4725 through 31-4730
§ 31–4729. Construction of §§ 31-4725 through 31-4730