Source: https://development.code.dccouncil.us/dc/council/code/sections/31-1371.04.html
Timestamp: 2019-04-23 16:21:42
Document Index: 346107537

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

D.C. Law Library - § 31–1371.04. Authorization of investments by the board of directors.
↪ Chapter 13A. Investments of Insurers.
↪ § 31–1371.04. Authorization of investments by the board of directors.
§ 31–1371.03. General investment qualifications.
§ 31–1371.05. Prohibited investments.
§ 31–1371.04. Authorization of investments by the board of directors.
(a) An insurer’s board of directors shall adopt a written plan for acquiring and holding investments and for engaging in investment practices that specifies guidelines as to the quality, maturity, and diversification of investments and other specifications, including investment strategies intended to assure that the investments and investment practices are appropriate for the business conducted by the insurer, its liquidity needs, and its capital and surplus. The board of directors shall review and assess the insurer’s technical investment and administrative capabilities and expertise before adopting a written plan concerning an investment strategy or investment practice.
(c) On no less than a quarterly basis, and more often if considered appropriate, an insurer’s board of directors, or committee of the board of directors, shall:
(1) Receive and review a summary report on the insurer’s investment portfolio, its investment activities, and investment practices engaged in under delegated authority, to determine whether the investment activity of the insurer is consistent with its written plan; and
This section is referenced in § 31-1371.03, § 31-1372.08, and § 31-1373.09.