Source: https://code.dccouncil.us/dc/council/code/sections/31-1301.html
Timestamp: 2019-04-20 23:07:00+00:00

Document:
D.C. Law Library - § 31–1301. Definitions.
(1) “Ancillary state” means any state other than a domiciliary state.
(2) “Creditor” is a person having any claim, whether matured or unmatured, liquidated or unliquidated, secured or unsecured, absolute, fixed, or contingent.
(3) “Delinquency proceeding” means any proceeding instituted against an insurer for the purpose of liquidating, rehabilitating, reorganizing, or conserving the insurer, and any summary proceeding under § 31-1308.
(E) Operating under a license or certificate of authority, as an insurer, issued by the District.
(6) “Domiciliary state” means the state in which an insurer is incorporated or organized, or, in the case of an alien insurer, its state of entry.
(B) When the property or obligation is received in good faith to secure a present advance or antecedent debt in an amount not disproportionately small as compared to the value of the property or obligation obtained.
(8) “Foreign country” means any other jurisdiction not in any state.
(9) “Formal delinquency proceeding” means any liquidation or rehabilitation proceeding.
(10) “General assets” means all property, real, personal, or otherwise, not specifically mortgaged, pledged, deposited, or otherwise encumbered for the security or benefit of specified persons or classes of persons. As to specifically encumbered property, the term “general assets” includes all the property or its proceeds in excess of the amount necessary to discharge the sum or sums secured thereby. Assets held in trust and on deposit for the security or benefit of all policyholders or all policyholders and creditors, in more than a single state, shall be treated as general assets.
(11) “Guaranty association” means the District of Columbia Property and Casualty Insurance Guaranty Association, and any other similar entity now or hereafter created by the Council of the District of Columbia for the payment of claims of insolvent insurers. The term “foreign guaranty association” means any similar entities now in existence in or hereafter created by the legislature of any other state.
(D) For purposes of this paragraph, the term “liabilities” shall include, but not be limited to, capital, surplus, or other reserves required by statute or by insurance administration general regulations, or specific requirements imposed by the Commissioner upon a subject company at the time of admission or subsequent thereto.
(13) “Insurer” means any person who has done, purports to do, is doing, or is licensed to do an insurance business, and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization, supervision, or conservation by, any insurance superintendent or commissioner.
(14) “Person” means corporations, partnerships, associations, trusts, and individual natural persons.
(15) “Preferred claim” means any claim with respect to which the terms of this chapter accord priority of payment from the general assets of the insurer.
(16) “Receiver” means receiver, liquidator, rehabilitator, or conservator as the context requires.
(17) “Reciprocal state” means any state other than the District in which in substance and effect §§ 31-1316(a), 31-1350, 31-1351, and 31-1353 through 31-1355 are in force, and in which provisions are in force requiring that the Commissioner or equivalent official be the receiver of a delinquent insurer, and in which fraudulent conveyances and preferential transfers by a delinquent insurer may be avoided.
(18) “Secured claim” means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow, or otherwise, but not including special deposit claims or claims against general assets. The term “secured claim” also includes claims which have become liens upon specific assets by reason of judicial process.
(19) “Special deposit claim” means any claim secured by a deposit made pursuant to statute for the security or benefit of a limited class or classes of persons, but not including any claim secured by general assets.
(20) “State” means any state, district, or territory of the United States and the Panama Canal Zone.
(22) “Transfer” shall include the sale and every other and different mode, direct or indirect, of disposing of or parting with property or with an interest therein, or with the possession thereof or of fixing a lien upon property or upon an interest therein, absolutely or conditionally, voluntarily, by or without judicial proceedings. The retention of a security title to property delivered to a debtor shall be deemed a transfer suffered by the debtor.
This section is referenced in § 31-305, § 31-5031.01, and § 31-5041.09.
D.C. Law 15-166, in par. (1A), substituted “Commissioner of the Department of Insurance, Securities, and Banking” for “Commissioner of Insurance and Securities”.
For temporary (90 day) amendment of section, see § 4(i)(1) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).

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