Whenever it appears to the Mayor that any person has committed a violation of this subchapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the Mayor may, after giving notice and an opportunity to be heard, suspend, revoke, or refuse to renew the insurer’s license or authority to do business in the District for such a period as the Mayor finds is required for the protection of policyholders or the public. Any determination shall be accompanied by specific findings of fact and conclusions of law.
(Oct. 21, 1993, D.C. Law 10-44, § 15, 40 DCR 6027.)
1981 Ed., § 35-3713.
Because of the codification of D.C. Law 11-159 as subchapter II of Chapter 37 of Title 35 [subchapter II of Chapter 7 of Title 31, 2001 Ed.], and the designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in this section.
Structure District of Columbia Code
Title 31 - Insurance and Securities
Subchapter I - Holding Company System
§ 31–702. Subsidiaries of insurers
§ 31–703. Acquisition of control of or merger with domestic insurer
§ 31–704. Acquisitions involving insurers not otherwise covered
§ 31–705. Registration of insurers
§ 31–706. Standards and management of an insurer within a holding company system
§ 31–706.01. Group-wide supervision of internationally active insurance groups
§ 31–707.01. Supervisory Colleges
§ 31–708. Confidential treatment
§ 31–709. Injunctions, prohibitions against voting securities, sequestration of voting securities
§ 31–713. Revocation, suspension, or nonrenewal of insurer’s license