Statutes, codes, and regulations
District of Columbia Official Code
Division V - LOCAL BUSINESS AFFAIRSTitle 31 - INSURANCE AND SECURITIESSubtitle VIII - PROVISIONS APPLICABLE TO MORE THAN ONE KIND OF INSURANCE
Chapter 51 - CREDIT LIFE, ACCIDENT, AND HEALTH INSURANCE
Section 31-5102 - Definitions

D.C. Code § 31-5102

Download
PDF
Current through codified legislation effective October 30, 2024
Section 31-5102 - Definitions

For the purpose of this chapter:

(1) "Mayor" means the Mayor of the District of Columbia.
(1A) "Commissioner" means the Commissioner of the Department of Insurance, Securities, and Banking.
(2) "Credit life insurance" means insurance issued on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction.
(3) "Credit accident and health insurance" means insurance against the disability of a debtor which provides indemnity for payments on a specific loan or other credit transaction.
(4) "Creditor" means the lender of money or vendor of goods, services, or property, including a lessor under a lease intended as a security, for which payment is arranged through a loan or other credit transaction, and includes any successor to the right, title, or interest of any such lender, vendor, or lessor.
(5) "Debtor" means a borrower of money or purchaser of goods, services, or property, including a lessee under a lease intended as a security, for which payment is arranged through a loan or other credit transaction.
(6) "District" means the District of Columbia.
(7) "Indebtedness" means the amount payable by a debtor to a creditor in connection with a loan or other credit transaction.
(8) Repealed.

D.C. Code § 31-5102

Sept. 25, 1962, 76 Stat. 580, Pub. L. 87-686, § 2; May 21, 1997, D.C. Law 11-268, § 10(m), 44 DCR 1730; Mar. 24, 1998, D.C. Law 12-81, § 25(a), 45 DCR 745; June 11, 2004, D.C. Law 15-166, § 4(dd), 51 DCR 2817.

Department of Insurance abolished: The Department of Insurance, including the Superintendent, was abolished and the functions thereof transferred to the Board of Commissioners of the District of Columbia by Reorganization Plan No. 5 of 1952. Reorganization Order No. 43, dated June 23, 1953, as amended, established, under the direction and control of a Commissioner, a Department of Insurance headed by a Superintendent. The Order provided for the organization of the Department, abolished the previously existing Department of Insurance, and provided that all functions and positions of the previous Department would be transferred to the new Department of Insurance, including the duties, powers, and authorities of all officers and employees; and that all personnel, property, records and unexpended balances relating to the functions and positions transferred would also be transferred to the new Department. The executive functions of the Board of Commissioners were transferred to the Commissioner of the District of Columbia by § 401 of Reorganization Plan No. 3 of 1967. The functions of the Superintendent of Insurance were transferred to the Department of Consumer and Regulatory Affairs by Reorganization Plan No. 1 of 1983, effective March 31, 1983. Pursuant to the provisions of D.C. Law 11-268, the Department of Insurance and Securities Regulation was established and the duties of the Superintendent of Insurance and the Insurance Administration were assumed by the Commissioner of Insurance and Securities, and the Insurance Administration in the Department of Consumer and Regulatory Affairs was abolished.