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The DC Code: § 31-1805 Duties of insurers utilizing the services of a reinsurance intermediary-broker.

Index31 Insurance and Securities. (Refs & Annos)
a
An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance broker on its behalf unless the person is licensed as required by § 31-1802(a).
b
An insurer may not employ an individual who is employed by a reinsurance broker with which it transacts business, unless the reinsurance broker is under common control with the insurer and subject to Chapter 7 of this title.
c
The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance broker with which it transacts business.

Historical and Statutory

Prior Codifications 1981 Ed., § 35-3105. Legislative History of Laws For legislative history of D.C. Law 10-47, see Historical and Statutory Notes following § 31-1801. DC CODE § 31-1805 Current through December 11, 2012

Credits

(Oct. 21, 1993, D.C. Law 10-47, § 6, 40 DCR 6093.)