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The DC Code: § 31-1703 Conversion to foreign insurer.

Index31 Insurance and Securities. (Refs & Annos)

Any domestic insurer may, upon the approval of the Commissioner, transfer its domicile to any state in which it is admitted to transact the business of insurance, and upon such a transfer shall cease to be a domestic insurer and shall be admitted to the District, if qualified, as a foreign insurer. The Commissioner shall approve any proposed transfer unless he or she determines such a transfer is not in the best interest of the policyholders of the District.

Historical and Statutory

Prior Codifications 1981 Ed., § 35-4303. Effect of Amendments D.C. Law 15-354 deleted "of Insurance and Securities" following "approval of the Commissioner". Legislative History of Laws For legislative history of D.C. Law 11-127, see Historical and Statutory Notes following § 31-1701. For legislative history of D.C. Law 12-81, see Historical and Statutory Notes following § 31-1701. For Law 15-354, see notes following § 31-101. DC CODE § 31-1703 Current through December 11, 2012

Credits

(May 24, 1996, D.C. Law 11-127, § 4, 43 DCR 1559; Mar. 24, 1998, D.C. Law 12-81, § 44(b), 45 DCR 745; Apr. 13, 2005, D.C. Law 15-354, § 46(b), 52 DCR 2638.)