Source: http://dccode.elaws.us/code?no=31-1372.06
Timestamp: 2019-11-21 00:21:48
Document Index: 394419261

Matched Legal Cases: ['§ 31', '§ 31', '§ 31', '§ 31', '§ 31', '§ 31', '§ 206']

§ 31-1372.06. Tangible personal property under lease.
(a)(1) Subject to the limitations of § 31-1372.02, an insurer may acquire tangible personal property or equity interests therein, which property or interests are located or used wholly or in part within a domestic jurisdiction, directly or indirectly through:
(A) Limited partnership interests and general partnership interests not otherwise prohibited § 31-1371.05;
(A) The property is subject to a lease or other agreement with a person whose rated credit instruments the insurer could acquire under § 31-1372.03 for a price equal to the purchase price of the personal property; and
(B) The lease or other agreement provides the insurer the right to receive rental, purchase, or other fixed payments for the use or purchase of the property, and the aggregate value of the payments, together with the estimated residual value of the property at the end of its useful life and the estimated tax benefits to the insurer resulting from ownership of the property, shall be adequate to return the cost of the insurer's investment in the property, plus a return considered adequate by the insurer.
(d) For purposes of determining compliance with the limitations of § 31- 1372.02:
(1) Investments acquired by an insurer under this section shall be aggregated with those acquired under § 31-1372.03; and
(Apr. 11, 2003, D.C. Law 14-297, § 206, 50 DCR 330.)