D.C. Mun. Regs. tit. 26, r. 26-A804
No investment in bonds or notes secured by mortgages or deeds of trust on real estate or perpetual lease thereon shall be made by any company which has surplus amounting to less than that required by Section 13 of the Fire and Casualty Act.
No company which has surplus in an amount equal to or exceeding that required by Section 13 of the Fire and Casualty Act may invest in such bonds, notes or perpetual leases more than the amount by which the sum of its admitted assets, excluding such bonds, notes, and perpetual leases, exceeds the sum of its liabilities, including all reserves required by law or by these rules, and its capital if any, plus the amount of surplus required by Section 13 of the Fire and Casualty Act.
No company may without written approval of the Commissioner hold such investments when the aggregate amount thereof is in excess of such limitation.
D.C. Mun. Regs. tit. 26, r. 26-A804