(a) A membership interest in a mutual insurance holding company shall not constitute an equity security as defined in § 31-603.
(b) A mutual insurance holding company created under this subchapter shall have the same powers to borrow or assume liability as a reciprocal insurance company organized under District law.
(May 12, 1998, D.C. Law 12-112, § 7, 45 DCR 1792.)
1981 Ed., § 35-3746.
See Historical and Statutory Notes following § 31-751.
Structure District of Columbia Code
Title 31 - Insurance and Securities
Subchapter III - Reciprocal Insurance Company Conversion
§ 31–752. Formation of a mutual insurance holding company from a reciprocal insurance company
§ 31–753. Merger of policyholder membership interests
§ 31–754. Incorporation of holding company
§ 31–755. Insurers rehabilitation and liquidation
§ 31–756. Applicability; membership interest; powers
§ 31–757. Failure to give notice
§ 31–758. Limitations of actions