D.C. Code § 47-2601

Current through codified legislation effective September 18, 2024

Section 47-2601 - Definitions

For the purposes of this chapter, the term:

(1) "Alien" means organized under the laws of any country other than the United States or a territory or insular possession of the United States.

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

(3) "Domestic" means organized under the laws of the District of Columbia or under federal legislation.

(4) "Foreign" means organized under the laws of any state of the United States, or of any territory or insular possession of the United States.

(5) "Foreign country" means a country where an insurer, not organized under the laws of the United States, is organized or formally located.

(6) "Mayor" means the Mayor of the District of Columbia.

(7) "Net premium receipts" or "consideration received" means gross premiums or consideration received less the sum of the following:

(A) Premiums received for reinsurance assumed and consideration returned on contracts not taken or cancelled; and

(B) Dividends paid in cash or used by policyholders to pay renewal premiums.

(8) "State" means the Commonwealth of Puerto Rico, a state in the United States of America, or a United States possession or territory other than the District of Columbia.

D.C. Code § 47-2601

Aug. 17, 1937, ch. 690, title II, § 1; as added Sept. 26, 1984, D.C. Law 5-113, § 401, 31 DCR 3974; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.

Mayor authorized to issue rules: Section 12 of Title 2 of the Act of August 17, 1937, as added by § 401 of D.C. Law 5-113, provided that the Mayor shall issue rules to implement the provisions of this chapter pursuant to subchapter I of Chapter 5 of Title 2.

Mayor authorized to issue rules: Section 901 of D.C. Law 5-113 provided that the Mayor shall issue rules to implement the provisions of the act pursuant to subchapter I of Chapter 15 of Title 1.