reglab/housing_qa huggingface dataset:
DC Code § 31-4430 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4430. Officers and directors not to be pecuniarily interested in transactions

No director or officer of any company doing business in the District shall receive any money or valuable thing for negotiating, procuring, recommending, or aiding in any purchase by or sale to such company of any property, or any loan from such company, nor be pecuniarily interested, either as principal, coprincipal, agent, or beneficiary, in any such purchase, sale, or loan, nor shall the financial obligation of any such director or officer be guaranteed by such company in any capacity; provided, that nothing herein contained shall prevent any such director or officer from receiving a fee for appraising property for said company or for serving on any committee that passes on the investments of said company; provided further, that nothing herein contained shall prevent a life insurance company from making a loan upon a policy held therein by a director or officer not in excess of the net value thereof or prevent any company in connection with the relocation of the place of employment of an officer, including any relocation in connection with the initial employment of such officer from: (1) making (or such officer from accepting therefrom) a mortgage loan to such officer on real property owned by such officer which is to serve as such officer’s residence; or (2) acquiring (or such officer from selling thereto), at not more than the fair market value thereof, the residence of such officer. Any person violating any provision of this section shall be guilty of a misdemeanor.  (June 19, 1934, 48 Stat. 1151, ch. 672, ch. III, § 30; Apr. 16, 1982, D.C. Law 4-99, § 2, 29 DCR 967.)  Prior Codifications 1981 Ed., § 35-630. 1973 Ed., § 35-530. Section References This section is referenced in § 31-3503. Cross References Hospital and medical services corporation, applicability of this section, see § 31-3503.
DC Code § 31-4431 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4431. Voting-trust agreements

It shall be unlawful for any stockholder, director, or officer of any company having capital stock to enter into any contract or agreement, commonly known as “voting-trust agreements,” whereby the rights, benefits, or liabilities attaching to the capital stock are transferred or assigned, temporarily or otherwise, to any person or group of persons, incorporated or unincorporated, for the purpose of controlling, managing, or directing the company, or voting its stock; provided, that this section shall not prevent the granting of proxies by stockholders authorizing a designated individual to represent them at stockholders’ meetings.  (June 19, 1934, 48 Stat. 1151, ch. 672, ch. III, § 31.)  Prior Codifications 1981 Ed., § 35-631. 1973 Ed., § 35-531.
DC Code § 31-4432 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4432. Maximum and contingent premiums of mutual companies. [Repealed]

Repealed.  (June 19, 1934, 48 Stat. 1152, Ch. 672, ch. III, § 32; May 4, 1950, 64 Stat. 104, ch. 157, § 5.)  Prior Codifications 1973 Ed., § 35-532.
DC Code § 31-4433 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4433. Classification of risks and members, payment of dividends, and creation of surplus by mutual companies

A mutual company may, in its articles of incorporation or in its bylaws, provide for the classification of its risks and of its members and for the payment of dividends and for the creation of a surplus.  (June 19, 1934, 48 Stat. 1152, ch. 672, ch. III, § 33.)  Prior Codifications 1981 Ed., § 35-632. 1973 Ed., § 35-533.
DC Code § 31-4435 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4435. Investments and loans. [Repealed]

Repealed.  (June 19, 1934, 48 Stat. 1152, ch. 672, ch. III, § 35; Feb. 3, 1938, 52 Stat. 26, ch. 13, § 12; June 19, 1948, 62 Stat. 480, ch. 503; July 19, 1954, 68 Stat. 494, ch. 546, § 1; Sept. 21, 1959, 73 Stat. 598, Pub. L. 86-329, § 1; Sept. 8, 1960, 74 Stat. 866, Pub. L. 86-731, § 1; Sept. 14, 1961, 75 Stat. 514, Pub. L. 87-245, § 1; Oct. 3, 1962, 76 Stat. 715, Pub. L. 87-739, § 1; Aug. 31, 1964, 78 Stat. 765, Pub. L. 88-566, § 2(a), (b); Aug. 14, 1973, 87 Stat. 303, Pub. L. 93-89, title II, § 201(3), (4); Oct. 30, 1981, D.C. Law 4-50, § 2, 28 DCR 4258; June 13, 1990, D.C. Law 8-141, § 2, 37 DCR 2654; May 21, 1997, D.C. Law 11-268, § 10(k), 44 DCR 1730; Apr. 11, 2003, D.C. Law 14-297, § 401(e)(2), 50 DCR 330.)  Prior Codifications 1981 Ed., § 35-634. 1973 Ed., § 35-535. Editor's Notes The reference to “§ 3701 et seq. of Title 38, United States Code” appearing in (a)(4)(H) was translated from § 1801 et seq., which originally appeared, as this section was renumbered in the U.S. Code. Department of Insurance abolished: See Historical and Statutory Notes following § 31-4402.
DC Code § 31-4436 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4436. Domestic company real-estate holdings. [Repealed]

Repealed.  (June 19, 1934, 48 Stat. 1153, Ch. 672, ch. III, § 36; June 19, 1948, 62 Stat. 480, ch. 503.)  Prior Codifications 1973 Ed., § 35-536.
DC Code § 31-4437 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4437. Reinsurance by domestic companies in authorized companies. [Repealed]

Repealed.  (June 19, 1934, 48 Stat. 1154, Ch. 672, ch. III, § 37; Oct. 15, 1993, D.C. Law 10-36, § 6(a), 40 DCR 5812; May 16, 1995, D.C. Law 10-255, § 26(c), 41 DCR 5193.)  Prior Codifications 1981 Ed., § 35-635. 1973 Ed., § 35-537.
DC Code § 31-4438 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4438. Reinsurance of risks. [Repealed]

Repealed.  (Oct. 15, 1993, D.C. Law 10-36, § 6(a), 40 DCR 5812; May 16, 1995, D.C. Law 10-255, § 26(c), 41 DCR 5193.)  Prior Codifications 1981 Ed., § 35-635.
DC Code § 31-4439 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4439. Vouchers or affidavits as evidence of disbursements

No domestic company shall make any disbursement of $100 or more unless the same be evidenced by a voucher signed by or on behalf of the person, firm, or corporation receiving the money and describing the consideration for the payment; and if the expenditure be in connection with any matter pending before any legislative or public body or before any department or officer of any state or government, the voucher shall describe the nature of the matter and the interest of the company therein, or, if such voucher cannot be obtained, the expenditure shall be evidenced by affidavit describing its character and object and stating the reasons for not obtaining such voucher.  (June 19, 1934, 48 Stat. 1154, ch. 672, ch. III, § 38.)  Prior Codifications 1981 Ed., § 35-636. 1973 Ed., § 35-538. Section References This section is referenced in § 31-3503. Cross References Hospital and medical services corporations, applicability of this section, see § 31-3503.
DC Code § 31-4440 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4440. Manner of keeping books, records, accounts, and vouchers

Every domestic company shall keep its books, records, accounts, and vouchers in such manner that its financial condition can be ascertained and so that its financial statements filed with the Commissioner can be readily verified.  (June 19, 1934, 48 Stat. 1154, ch. 672, ch. III, § 39; May 21, 1997, D.C. Law 11-268, § 10, 44 DCR 1730; Mar. 24, 1998, D.C. Law 12-81, § 24(c), 45 DCR 745.)  Prior Codifications 1981 Ed., § 35-637. 1973 Ed., § 35-539. Section References This section is referenced in § 31-1503 and § 31-3503. Cross References Hospital and medical services corporations, applicability of this section, see § 31-3503. Managing general agents, retention of contract records, see § 31-1503.
DC Code § 31-4441 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4441. Acquisition of own capital stock. [Repealed]

Repealed.  (June 19, 1934, 48 Stat. 1154, ch. 672, ch. III, § 40; May 21, 1997, D.C. Law 11-268, § 10, 44 DCR 1730; Mar. 24, 1998, D.C. Law 12-81, § 24(d), 45 DCR 745; Apr. 11, 2003, D.C. Law 14-297, § 401(e)(2), 50 DCR 330.)  Prior Codifications 1981 Ed., § 35-638. 1973 Ed., § 35-540.
DC Code § 31-4443 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4443. Effect of merger or consolidation

(a)(1) When a merger or consolidation has been completed, the merging or consolidating companies shall be a single company. (2) For a merger, the single company shall be the 1 designated in the plan as the surviving company and, for a consolidation, shall be the new company described in the plan. (b) The separate existence of the merging or consolidating companies shall cease. (c) The surviving or new company shall have the rights, the privileges, the immunities, and the powers and shall be subject to the duties and liabilities of a life company organized under this subdivision. (d)(1) The surviving or the new company shall have the rights, the privileges, the immunities, and the franchises of each of the merging or consolidating companies. (2) All property interests, debts, claims, or other interests belonging to the merging or the consolidating companies shall be transferred automatically to the single company. (3) Realty interests vested in the merging or the consolidating companies shall not revert or be impaired because of the merger or the consolidation. (e)(1) The surviving or the new company shall be responsible for obligations of the merging or the consolidating companies. (2) A claim involving 1 of the merging or consolidating companies may be litigated as though the merger or the consolidation had not taken place or with the single company replacing the merging or the consolidating company. (3) Neither the rights of creditors nor any liens upon the property of a merging or consolidating company shall be impaired by the merger or the consolidation. (f)(1) For a merger, the articles of incorporation of the surviving company shall be considered amended to the extent that the articles of merger described changes in the articles of incorporation. (2) For a consolidation, articles of consolidation provisions required or permitted in the articles of incorporation of life companies shall be considered the articles of incorporation of the new company. (g) The aggregate amount of the net assets of the merging or the consolidating companies available for the payment of dividends immediately before the merger or the consolidation, to the extent that the amount cannot be transferred to stated capital, shall continue to be available for the payment of dividends by the surviving or the new company.  (June 19, 1934, ch. 672, ch. III, § 42; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39.)  Prior Codifications 1981 Ed., § 35-640. Section References This section is referenced in § 31-3503 and § 31-5311. Cross References Fraternal benefit societies, consolidations and mergers, see § 31-5311. Hospital and medical services corporations, applicability of this section, see § 31-3503.
DC Code § 31-4444 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4444. Procedure for merger of domestic companies

(a) Two or more domestic life companies may merge into 1 company. (b) The board of directors of each company shall, by resolution adopted by a majority vote of the members of the boards, approve a plan of merger that lists the following: (1) The names of the companies proposing to merge. (2) The name of the surviving company the merging companies would become. (3) The terms and the conditions of the proposed merger. (4) The manner and the basis of converting the shares or memberships of each merging company into: (A) Shares, memberships, or other securities of the surviving company. (B) Shares or other securities of another company. (C) Cash or property. (5) Changes in the articles of incorporation of the surviving company. (6) Other provisions with respect to the proposed merger as are deemed necessary or desirable.  (June 19, 1934, ch. 672, ch. III, § 43; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39.)  Prior Codifications 1981 Ed., § 35-641.
DC Code § 31-4445 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4445. Procedure for consolidating domestic companies

(a) Two or more domestic life companies may consolidate into a new company. (b) To consolidate, the board of directors of each consolidating company, by resolution adopted by majority vote of the members of the boards, shall approve a plan of consolidation listing the following: (1) The names of the companies proposing to consolidate. (2) The name of the new company into which they propose to consolidate. (3) The terms and conditions of the proposed consolidation. (4) The manner and the basis of converting the shares or memberships of each company into: (A) Shares, memberships, or other securities of the new company. (B) Shares or other securities of another company. (C) Cash or property. (5) The articles of incorporation for domestic companies organized under this chapter. (6) Other provisions with respect to the proposed consolidation as are deemed necessary or desirable.  (June 19, 1934, ch. 672, ch. III, § 44; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39.)  Prior Codifications 1981 Ed., § 35-642.
DC Code § 31-4446 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4446. Merger or consolidation of domestic and foreign companies

(a) Foreign and domestic life companies may be merged or consolidated if the laws where each company is organized permit the merger or the consolidation. (b) If the surviving or the new company is governed by a foreign jurisdiction, then the surviving or the new company shall comply with Chapter 45 of this subdivision, before transacting life insurance business in the District of Columbia. (c) The surviving or the new company shall comply with § 31-202, and maintain and appoint in the District, or not more than 10 miles beyond the territorial limits of the District, an agent for service of process and shall register with the Commissioner the address of its principal office and the name and address of its agent for service of process in the District, including any changes in address. (d) Repealed. (e)(1) Except as provided in paragraph (2) of this subsection, a merger or a consolidation under this section shall be the same as a merger or a consolidation of domestic companies creating a surviving or a new company governed by the District of Columbia. (2) If the surviving or the new company shall be governed by a foreign jurisdiction, the merger or the consolidation shall be the same as a merger or a consolidation of domestic companies except insofar as the laws of the foreign jurisdiction provide otherwise.  (June 19, 1934, ch. 672, ch. III, § 45; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39; Mar. 21, 1995, D.C. Law 10-233, § 3, 42 DCR 24; Apr. 18, 1996, D.C. Law 11-110, § 37, 43 DCR 530; May 21, 1997, D.C. Law 11-268, § 10(k), 44 DCR 1730.)  Prior Codifications 1981 Ed., § 35-643. Editor's Notes Department of Insurance abolished: See Historical and Statutory Notes following § 31-4402.
DC Code § 31-4447 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4447. Merger or consolidation — Approval by Mayor

(a) The plan of merger or of consolidation and the filings required by § 31-5803 shall be mailed to shareholders, to members, or to policyholders of the domestic merging and consolidating companies, and shall be filed with the Mayor according to § 31-5803 [repealed]. (b) A life company aggrieved by the Mayor’s decision to disapprove a plan of merger or of consolidation with the Mayor under subsection (a) of this section shall have the rights, under § 31-5803 [repealed], to judicial review of the decision.  (June 19, 1934, ch. 672, ch. III, § 46; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39.)  Prior Codifications 1981 Ed., § 35-644. References in Text Section 31-5803, referred to in (a) and (b), was repealed by § 17 of D.C. Law 10-44, effective Oct. 21, 1993. Editor's Notes Subsection (b) of this section is set forth above as it appears in D.C. Law 5-160. The word “filed” should probably appear following “consolidation.”.
DC Code § 31-4448 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4448. Merger or consolidation — Procedures before voting

(a)(1) After approval from the Mayor, the board of directors shall, by resolution, direct that the plan of merger or of consolidation be voted upon at a meeting of the shareholders, the members, or the policyholders of record and entitled to vote. (2) The vote may be conducted at either an annual or a special meeting. (b) Written notice shall be delivered at least 20 days before the meeting, either personally or by mail, to each shareholder, member, or policyholder. (c) The notice shall state the place, the time, and the purpose of the meeting, and a copy or a summary of the plan of merger or of consolidation shall be delivered with the notice. (d) The notice shall also summarize dissenting shareholders’ rights under § 31-4450.  (June 19, 1934, ch. 672, ch. III, § 47; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39.)  Prior Codifications 1981 Ed., § 35-645.
DC Code § 31-4449 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4449. Merger or consolidation — Approval by shareholders

(a) The plan of merger or of consolidation shall be approved by the affirmative vote of the holders of two thirds of the voting outstanding shares of each company unless 2 or more classes of shares have been issued for any of the companies. (b) If the company has issued 2 or more classes of shares, the plan of merger or of consolidation shall be approved by the affirmative vote of at least two thirds of the voting outstanding shares of each class. (c) For a mutual company, each member or policyholder entitled to vote shall have 1 vote, regardless of the amount of insurance or number of policies held by the individual.  (June 19, 1934, ch. 672, ch. III, § 48; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39; Feb. 27, 1996, D.C. Law 11-90, § 11, 42 DCR 7155.)  Prior Codifications 1981 Ed., § 35-646. Section References This section is referenced in § 31-4450. Emergency Legislation For temporary amendment of section, see § 11 of the Insurance Omnibus Congressional Recess Emergency Amendment Act of 1995 (D.C. Act 11-97, July 19, 1995, 42 DCR 3844).
DC Code § 31-4451 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4451. Articles of merger or consolidation

(a) Upon shareholder approval of the merger or consolidation, articles of merger or consolidation shall be executed in duplicate by the president of each company, attested by the secretary of each company, and the corporate seal of each company shall be stamped on the articles. (b) The articles shall list the following: (1) The plan of merger or consolidation. (2) For each company, the number of members, policyholders, or shares outstanding and, if 2 or more classes of shares have been issued, the designation of each class and the number of shares outstanding in each class. (3) For each company, the number of members, policyholders, or shares voting for the plan and the number voting against the plan and, if 2 or more classes of shares have been issued, the number of shares of each class voting for the plan and the number voting against the plan. (c)(1) The articles shall be filed with the Mayor. (2) The Mayor shall charge a fee for filing the articles. (3) If both the form of the articles and the fee payment comply with this section, then the Mayor shall perform the following: (A) State the date of the filing and the word “filed” on the duplicates. (B) Keep 1 of the duplicates. (C) Send to the new or surviving company both the other duplicate and a certificate of merger or consolidation.  (June 19, 1934, ch. 672, ch. III, § 50; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39.)  Prior Codifications 1981 Ed., § 35-648. Section References This section is referenced in § 31-4452.
DC Code § 31-4452 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 44 - Domestic Life Companies|§ 31-4452. Date merger or consolidation completed

The merger or consolidation shall be complete when the Mayor issues under § 31-4451(c)(3)(C) the certificate of merger or consolidation to the new or surviving company.  (June 19, 1934, ch. 672, ch. III, § 51; as added Mar. 14, 1985, D.C. Law 5-160, § 3(c), 32 DCR 39.)  Prior Codifications 1981 Ed., § 35-649. Cross References Insurance, merger or consolidation of life companies, new company governed by a foreign jurisdiction, compliance with this chapter, see § 31-4446.
DC Code § 31-4502 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 45 - Foreign and Alien Life Companies|§ 31-4502. Alien companies; trustees; examinations; financial statements

The directors of an alien company may appoint citizens or corporations of the United States, approved by the Commissioner, as its trustees to hold funds and assets in trust for the benefit of the policyholders and creditors of the company in the United States. A certified copy of the record of such appointment and of the deed of trust shall be filed with the Commissioner, who may examine such trustees and any officers and agents, books, and papers of the company in the same manner as he may examine officers, agents, books, papers, and affairs of insurance companies. The funds and assets so held by such trustees shall, with the deposits otherwise made by the company and the funds and assets held by the company in the United States for the benefit of its policyholders and creditors in the United States, constitute the assets of the company for the purpose of making its financial statements required by this subdivision.  (June 19, 1934, 48 Stat. 1155, ch. 672, ch. IV, § 2; May 21, 1997, D.C. Law 11-268, § 10(l), 44 DCR 1730.)  Prior Codifications 1981 Ed., § 35-702. 1973 Ed., § 35-602. Section References This section is referenced in § 31-5326. Editor's Notes Department of Insurance abolished: See Historical and Statutory Notes following § 31-4501.