D.C. Code § 31-1131.02

Current through codified legislation effective October 30, 2024

Section 31-1131.02 - Definitions

For the purposes of this chapter, the term:

(1) "Business entity" means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity.

(2) "Commissioner" means the Commissioner of the Department of Insurance, Securities, and Banking.

(2A) "Department" means the Department of Insurance, Securities, and Banking, established by § 31-102.

(3) "District" means the District of Columbia.

(4) "Home state" means the District or any state or territory of the United States in which an insurance producer:

(A) Maintains his or her principal place of residence or principal place of business; and

(B) Is licensed as a resident insurance producer.

(4A) "Individual" means a natural person.

(5) "Insurance" means any of the lines of authority enumerated in § 31-1131.07(a).

(6) "Insurance producer" means a person required to be licensed in the District to sell, solicit, or negotiate insurance under this chapter.

(7) "Insurer" means a company offering protection through the sale of an insurance policy to an insured.

(8) "License" means a document issued by the Commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document.

(9) Repealed.

(10) Repealed.

(11) "Limited line of insurance" means a line of insurance:

(A) Enumerated in § 31-1131.07(a)(10)(A), (B), (C), (D), or (E);

(B) Established by the Commissioner pursuant to § 31-1131.07(a)(10)(F); or

(C) Recognized by the Commissioner pursuant to § 31-1131.07(a)(10)(G).

(12) "Limited lines insurance producer" means a person authorized by the Commissioner to sell, solicit, or negotiate a limited line of insurance.

(13) "NAIC" means the National Association of Insurance Commissioners.

(14) "Negotiate" means the act of conferring directly with, or offering advice directly to, a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract; provided, that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers.

(14A) "Nonresident insurance producer" means an insurance producer whose home state is not the District.

(15) "Person" means an individual or a business entity.

(15A) "Resident insurance producer" means an insurance producer whose home state is the District.

(16) "Sell" means to sell or exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company.

(17) "Solicit" means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company.

(18) "Terminate" means the cancellation of the relationship between an insurance producer and an insurer or the termination of a producer's authority to transact insurance.

(19) "Uniform Business Entity Application" means the current version of the NAIC Uniform Application for Business Entity Insurance License/Registration.

(20) "Uniform Individual Application" means the current version of the NAIC Uniform Application for Individual Insurance Producer License.

D.C. Code § 31-1131.02

Mar. 27, 2003, D.C. Law 14-264, § 2, 50 DCR 260; June 11, 2004, D.C. Law 15-166, § 4(g)(1), 51 DCR 2817; Apr. 13, 2005, D.C. Law 15-354, § 43, 52 DCR 2638; Mar. 2, 2007, D.C. Law 16-191, § 44(b), 53 DCR 6794; May 13, 2008, D.C. Law 17-155, § 2(a), 55 DCR 3683.