reglab/housing_qa huggingface dataset:
DC Code § 31-105 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 1 - Department of Insurance, Securities, and Banking|Subchapter I - Establishment of the Department of Insurance, Securities, and Banking|§ 31-105. Transfers

(a) All positions, property, records, and unexpended balances of appropriations, allocations, assessments, and other funds available or to be made available to the Department of Consumer and Regulatory Affairs and the Public Service Commission relating to the duties and functions assigned herein, are transferred to the Department. (b) All powers, duties, and functions transferred to the Department of Banking and Financial Institutions under § 26-551.03, are hereby transferred to the Department of Insurance, Securities, and Banking. (c) All positions, property, records, and unexpended balances of appropriations, allocations, assessments, and other funds available or to be made available to the Department of Banking and Financial Institutions under § 26-551.03, are hereby transferred to the Department.  (May 21, 1997, D.C. Law 11-268, § 6, 44 DCR 1730; June 11, 2004, D.C. Law 15-166, § 3(e), 51 DCR 2817; Apr. 13, 2005, D.C. Law 15-354, § 40(d), 52 DCR 2638.)  Prior Codifications 1981 Ed., § 35-125. Effect of Amendments D.C. Law 15-166 designated the existing text as subsec. (a); and added subsecs. (b) and (c). D.C. Law 15-354, in subsec. (a), validated a previously made technical correction. Emergency Legislation For temporary (90 day) amendment of section, see § 3(e) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).
DC Code § 31-106 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 1 - Department of Insurance, Securities, and Banking|Subchapter I - Establishment of the Department of Insurance, Securities, and Banking|§ 31-106. Organization

(a) The Commissioner, as the chief executive officer of the Department is authorized to organize the personnel and property transferred herein within any organizational unit of the Department as the Commissioner deems appropriate. (b)(1) The Securities and Banking Bureau is established to oversee the regulation of securities under the supervision of the Commissioner and administer the District of Columbia Banking Code. (2) The position of Associate Commissioner for Securities and Banking is hereby established to administer the Banking Bureau under the supervision of the Commissioner.  (May 21, 1997, D.C. Law 11-268, § 7, 44 DCR 1730; June 11, 2004, D.C. Law 15-166, § 3(f), 51 DCR 2817; Sept. 24, 2010, D.C. Law 18-223, § 2112(c), 57 DCR 6242.)  Prior Codifications 1981 Ed., § 35-126. Effect of Amendments D.C. Law 15-166 designated the text of the existing section as subsection (a); in subsec. (a), substituted “Commissioner” for “Commissioner of Insurance and Securities” and substituted “Department” for “Department of Insurance and Securities Regulation”; and added subsec. (b). D.C. Law 18-223 rewrote subsec. (b)(1); and, in subsec. (b)(2), substituted “Associate Commissioner for Securities and Banking” for “Director of the Bureau of Banking and Financial Institutions”. Prior to amendment, subsec. (b)(1) read as follows: “(b)(1) The Bureau of Banking and Financial Institutions is hereby established to administer the District of Columbia Banking Code under supervision of the Commissioner.” Emergency Legislation For temporary (90 day) amendment of section, see § 3(f) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653). For temporary (90 day) amendment of section, see § 2112(c) of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).
DC Code § 31-106.03 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 1 - Department of Insurance, Securities, and Banking|Subchapter I - Establishment of the Department of Insurance, Securities, and Banking|§ 31-106.03. Rules

Within 180 days of February 18, 2017, the Mayor, pursuant to subchapter I of Chapter 5 of Title 2, shall issue rules to implement of provisions of §§ 31-106.01 and31-106.02.  (May 21, 1997, D.C. Law 11-268, § 7c; as added Feb. 18, 2017, D.C. Law 21-214, § 2(b), 63 DCR 15334.)
DC Code § 31-108 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 1 - Department of Insurance, Securities, and Banking|Subchapter I - Establishment of the Department of Insurance, Securities, and Banking|§ 31-108. Abolition of Insurance Administration

The Insurance Administration in the Department of Consumer and Regulatory Affairs as currently organized is abolished.  (May 21, 1997, D.C. Law 11-268, § 9, 44 DCR 1730.)  Prior Codifications 1981 Ed., § 35-128.
DC Code § 31-121 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 1 - Department of Insurance, Securities, and Banking|Subchapter II - Regulations Under the Gramm-Leach-Bliley Act|§ 31-121. Regulations

The Commissioner may promulgate rules, regulations, and orders as are necessary or appropriate to conform to the Gramm-Leach-Bliley Act, approved November 12, 1999 (113 Stat. 1338; codified in scattered sections of the U.S. Code), or regulations promulgated thereunder.  (Oct. 21, 2000, D.C. Law 13-191, § 8, 47 DCR 7311.)  Emergency Legislation For temporary (90 day) amendment of section, see § 2 of the Insurer Confidentiality and Information Sharing Emergency Act of 2000 (D.C. Act 13-444, October 24, 2000, 47 DCR 9007).
DC Code § 31-707.01 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter I - Holding Company System|§ 31-707.01. Supervisory Colleges

(a) With respect to any insurer registered under § 31-705, and in accordance with subsection (c) of this section, the Mayor shall have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order to determine compliance by the insurer with this subchapter. The powers of the Mayor with respect to supervisory colleges shall include the following: (1) Initiating the establishment of a supervisory college; (2) Clarifying the membership and participation of other supervisors in the supervisory college; (3) Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor; (4) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and (5) Establishing a crisis management plan. (b) Each registered insurer subject to this section shall be liable for and shall pay the reasonable expenses of the Mayor’s participation in a supervisory college in accordance with subsection (c) of this section, including reasonable travel expenses. For the purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates, and the Mayor may establish a regular assessment to the insurer for the payment of these expenses. (c) To assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management, and governance processes, and as part of the examination of individual insurers, in accordance with § 31-707, the Mayor may participate in a supervisory college with other regulators charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies. The Mayor may enter into agreements in accordance with § 31-708(c) providing the basis for cooperation between the Mayor and the other regulatory agencies, and the activities of the supervisory college. (d) Nothing in this section shall delegate to the supervisory college the authority of the Mayor to regulate or supervise the insurer or its affiliates within its jurisdiction.  (Oct. 21, 1993, D.C. Law 10-44, § 8a; as added Mar. 11, 2015, D.C. Law 20-235, § 2(g), 62 DCR 461.)
DC Code § 31-708.01 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter I - Holding Company System|§ 31-708.01. Rules

The Mayor shall, pursuant to subchapter I of Chapter 5 of Title 2 [§ 2-501 et seq.], issue rules to implement the provisions of this subchapter.  (Oct. 21, 1993, D.C. Law 10-44, § 10, 40 DCR 6027.)
DC Code § 31-711 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter I - Holding Company System|§ 31-711. Receivership

Whenever it appears to the Mayor that any person has committed a violation of this subchapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the Commissioner may proceed as provided under the insurance laws of the District to take possession of the property of such a domestic insurer and to conduct its business, or take any other actions as the Mayor, at the Mayor’s discretion, deems appropriate.  (Oct. 21, 1993, D.C. Law 10-44, § 13, 40 DCR 6027; May 21, 1997, D.C. Law 11-268, § 10(gg)(2), 44 DCR 1730.)  Prior Codifications 1981 Ed., § 35-3711. Section References This section is referenced in § 31-704. Editor's Notes Because of the codification of D.C. Law 11-159 as subchapter II of Chapter 37 of Title 35 [subchapter II of Chapter 7 of Title 31, 2001 Ed.], and the designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in this section.
DC Code § 31-712 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter I - Holding Company System|§ 31-712. Recovery

(a) If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order shall have a right to recover on behalf of the insurer, (i) from any parent corporation or holding company or person or affiliate who otherwise controlled the insurer, the amount of distributions (other than distributions of shares of the same class of stock) paid by the insurer on its capital stock, or (ii) any payment in the form of a bonus, termination settlement, or extraordinary lump sum salary adjustment made by the insurer or its subsidiary to a director, officer, or employee, where the distribution or payment pursuant to clause (i) or (ii) of this subsection is made at any time during the 1 year preceding the petition for liquidation, conservation, or rehabilitation, as the case may be, subject to the limitations of subsections (b), (c), and (d) of this section. (b) No distribution shall be recoverable if the parent or affiliate shows that when paid the distribution was lawful and reasonable, and that the insurer did not know, and could not reasonably have known, that the distribution might adversely affect the ability of the insurer to fulfill its contractual obligations. (c)(1) Any person that was a parent corporation, holding company, or a person who otherwise controlled the insurer or affiliate at the time the distributions were paid shall be liable, under subsection (a) of this section, up to the amount of distributions or payments such a person received. (2) Any person that otherwise controlled the insurer at the time the distributions were declared shall be liable up to the amount of distributions the person would have received if they had been paid immediately. (3) If 2 or more persons are liable with respect to the same distributions, they shall be jointly and severally liable. (d) The maximum amount recoverable under this section shall be the amount needed in excess of all other available assets of the impaired or insolvent insurer to pay the contractual obligations of the impaired or insolvent insurer and to reimburse any guaranty funds. (e) To the extent that any person liable under subsection (c) of this section is insolvent or otherwise fails to pay claims due from it, its parent corporation, holding company, or person who otherwise controlled it at the time the distribution was paid shall be jointly and severally liable for any resulting deficiency in the amount recovered from the parent corporation, holding company, or person who otherwise controlled it.  (Oct. 21, 1993, D.C. Law 10-44, § 14, 40 DCR 6027; July 25, 1995, D.C. Law 11-30, § 8, 42 DCR 1547.)  Prior Codifications 1981 Ed., § 35-3712.
DC Code § 31-713 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter I - Holding Company System|§ 31-713. Revocation, suspension, or nonrenewal of insurer’s license

Whenever it appears to the Mayor that any person has committed a violation of this subchapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the Mayor may, after giving notice and an opportunity to be heard, suspend, revoke, or refuse to renew the insurer’s license or authority to do business in the District for such a period as the Mayor finds is required for the protection of policyholders or the public. Any determination shall be accompanied by specific findings of fact and conclusions of law.  (Oct. 21, 1993, D.C. Law 10-44, § 15, 40 DCR 6027.)  Prior Codifications 1981 Ed., § 35-3713. Editor's Notes Because of the codification of D.C. Law 11-159 as subchapter II of Chapter 37 of Title 35 [subchapter II of Chapter 7 of Title 31, 2001 Ed.], and the designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in this section.
DC Code § 31-714 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter I - Holding Company System|§ 31-714. Judicial review; mandamus

(a) Any person aggrieved by any act, determination, rule, regulation, or order or any other action of the Mayor pursuant to this subchapter may appeal to the District of Columbia Court of Appeals, in accordance with § 2-510. (b) The filing of an appeal pursuant to this section shall not stay the application of any such rule, regulation, order, or other action of the Mayor to the appealing party unless the court, after giving the appealing party notice and an opportunity to be heard, determines that failure to grant such a stay would be detrimental to the interest of policyholders, shareholders, creditors, or the public. (c) Any person aggrieved by any failure of the Mayor to act or make a determination required by this subchapter may petition the Superior Court of the District of Columbia for a writ in the nature of a mandamus or a peremptory mandamus directing the Mayor to act or make such determination forthwith.  (Oct. 21, 1993, D.C. Law 10-44, § 16, 40 DCR 6027.)  Prior Codifications 1981 Ed., § 35-3714. Editor's Notes Because of the codification of D.C. Law 11-159 as subchapter II of Chapter 37 of Title 35 [subchapter II of Chapter 7 of Title 31, 2001 Ed.[, and the designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in (a) and (c).
DC Code § 31-732 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter II - Mutual Holding Companies|§ 31-732. Merger of policyholder membership interests

(a) A domestic mutual insurance company, upon the approval of the Commissioner, may reorganize by merging its policyholders’ membership interests into a mutual insurance holding company formed pursuant to this section and continuing the corporate existence of the reorganizing insurance company as a stock insurance company or as a stock insurance company subsidiary to an intermediate holding company which is a subsidiary to the mutual insurance holding company. (b) The Commissioner, after a public hearing as provided in § 31-703(g)(1), if satisfied that the interests of the policyholders are properly protected and that the merger is fair and equitable to the policyholders, shall approve the proposed merger and may require as a condition of approval such modifications of the proposed merger as the Commissioner finds necessary for the protection of the policyholders’ interests. The Commissioner may retain consultants as provided in § 31-703(g)(3). A merger pursuant to this section is subject to § 31-703(a), (b), and (c). The Commissioner shall retain jurisdiction over the mutual insurance holding company organized pursuant to this section to assure that policyholder interests are protected. (c) All of the initial shares of the capital stock of the reorganized insurance company shall be issued to the mutual insurance holding company. The membership interests of the policyholders of the reorganized insurance company shall become membership interests in the mutual insurance holding company. Policyholders of the reorganized insurance company shall be members of the mutual insurance holding company in accordance with the articles of incorporation and bylaws of the mutual insurance holding company. The mutual insurance holding company shall at all times own a majority of the voting shares of the capital stock of the reorganized insurance company. A merger of policyholders’ membership interests in a mutual insurance company into a mutual insurance holding company shall be deemed to be a merger of insurance companies pursuant to § 31-703 and § 31-703 is also applicable.  (Sept. 20, 1996, D.C. Law 11-159, § 3, 43 DCR 3714; Mar. 24, 1998, D.C. Law 12-81, § 41(b), 45 DCR 745.)  Prior Codifications 1981 Ed., § 35-3722. Section References This section is referenced in § 31-734 and § 31-735. Emergency Legislation See notes to § 35-3721.
DC Code § 31-734 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter II - Mutual Holding Companies|§ 31-734. Insurers rehabilitation and liquidation

(a) A mutual insurance holding company is deemed to be an insurer subject to Chapter 13 of this title, and shall automatically be a party to any proceeding under Chapter 13 of this title involving an insurance company, which as a result of a reorganization pursuant to § 31-731 or § 31-732 is a subsidiary of the mutual insurance holding company. In any proceeding under Chapter 13 of this title involving the reorganized insurance company, the assets of the mutual insurance holding company are deemed to be assets of the estate of the reorganized insurance company for purposes of satisfying the claims of the reorganized insurance company’s policyholders. (b) A mutual insurance holding company shall not dissolve or liquidate without the approval of the Commissioner or as ordered by the District Court pursuant to Chapter 13 of this title.  (Sept. 20, 1996, D.C. Law 11-159, § 5, 43 DCR 3714; Mar. 24, 1998, D.C. Law 12-81, § 41(d), 45 DCR 745.)  Prior Codifications 1981 Ed., § 35-3724. Emergency Legislation See notes to § 35-3721.
DC Code § 31-736 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter II - Mutual Holding Companies|§ 31-736. Failure to give notice

If the mutual company complies substantially and in good faith with the notice requirements of this subchapter, the mutual company’s failure to give any member or members any required notice does not impair the validity of any action taken under this subchapter.  (Sept. 20, 1996, D.C. Law 11-159, § 7, 43 DCR 3714.)  Prior Codifications 1981 Ed., § 35-3726. Emergency Legislation See notes to § 35-3721.
DC Code § 31-737 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter II - Mutual Holding Companies|§ 31-737. Limitations of actions

Any action challenging the validity of or arising out of acts taken or proposed to be taken under this subchapter shall be commenced within 30 days after the date of the issuance of any order by the Commissioner pursuant to this subchapter. In any action challenging the validity of or arising out of acts taken or proposed to be taken under this subchapter, or charging that the directors of the mutual insurance holding company or any of its subsidiaries have acted improperly in connection with any aspect of the acts taken or proposed to be taken under this subchapter, the mutual insurance holding company or any of its subsidiaries in whose right such action is brought, or the defendant(s) shall be entitled at any state of the proceedings before final judgment to require the plaintiff(s) to give security for the reasonable expenses, including attorney fees, which may be incurred by the mutual insurance holding company or any of its subsidiaries or any other defendant(s) in connection with such action. Thereafter, the amount of such security, from time to time, may be increased or decreased in the discretion of the court having jurisdiction of such action upon a showing that the security provided has or may become inadequate or excessive.  (Sept. 20, 1996, D.C. Law 11-159, § 8, 43 DCR 3714; Apr. 9, 1997, D.C. Law 11-202, § 4, 43 DCR 6054; Mar. 26, 1999, D.C. Law 12-188, § 2(d), 45 DCR 7807.)  Prior Codifications 1981 Ed., § 35-3727. Emergency Legislation See notes to § 35-3721. For temporary amendment of § 8 of the Mutual Holding Company Act of 1996 (D.C. Act 11-290) to conform with this section, see § 11 of the Mutual Holding Company Congressional Review Emergency Act of 1996 (D.C. Act 11-368, August 21, 1996, 43 DCR 4633). For temporary amendment of section, see § 2 of the Mutual Holding Company Congressional Adjournment Emergency Amendment Act of 1996 (D.C. Act 11-449, December 10, 1996, 43 DCR 6866), and § 2 of the Mutual Holding Company Congressional Review Emergency Amendment Act of 1997 (D.C. Act 12-6, March 3, 1997, 44 DCR 1619). For temporary amendment of section, see § 2(d) of the Mutual Holding Company Mergers and Acquisition Emergency Amendment Act of 1998 (D.C. Act 12-295, March 4, 1998, 45 DCR 1764), § 2(d) of the Mutual Holding Company Mergers and Acquisition Congressional Review Emergency Amendment Act of 1998 (D.C. Act 12-364, June 5, 1998, 45 DCR 3877), and § 2(d) of the Mutual Holding Company Mergers and Acquisition Second Congressional Review Emergency Amendment Act of 1998 (D.C. Act 12-550, December 18, 1998, 46 DCR 512). Temporary Legislation For temporary (225 day) amendment of section, see § 2(d) of the Mutual Holding Company Mergers and Acquisition Temporary Amendment Act of 1998 (D.C. Law 12-119, June 11, 1998, law notification 45 DCR 4036).
DC Code § 31-738 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter II - Mutual Holding Companies|§ 31-738. Rulemaking

The Mayor, pursuant to subchapter I of Chapter 5 of Title 2, may issue rules and regulations to implement the provisions of this subchapter.  (Sept. 20, 1996, D.C. Law 11-159, § 9, 43 DCR 3714.)  Prior Codifications 1981 Ed., § 35-3728. Emergency Legislation See notes to § 35-3721.
DC Code § 31-751 (2021)
2021 District of Columbia Code|Title 31 - Insurance and Securities|Chapter 7 - Holding Companies|Subchapter III - Reciprocal Insurance Company Conversion|§ 31-751. Definitions

For the purposes of this subchapter, the term: (1) “Reciprocal insurance company” includes an interinsurance exchange but shall not include a risk retention group as defined in § 31-4101(12). (2) “Voting shares” means shares entitling the holder to vote for the election of directors of the issuer except that shares which can be voted only in the case of the occurrence of an event or an extraordinary action are not voting shares.  (May 12, 1998, D.C. Law 12-112, § 2, 45 DCR 1792.)  Prior Codifications 1981 Ed., § 35-3741. Emergency Legislation For temporary addition of this subchapter, comprised of §§ 35-3741 through 35-3750 1981 Ed. see §§ 2-11 of the Reciprocal Insurance Company Conversion Emergency Amendment Act of 1998 (D.C. Act 12-298, March 4, 1998, 45 DCR 1775).