District of Columbia § 31-1201 Definitions.

District of Columbia Statutes

§ 31-1201 — Definitions.

District of Columbia·Title 31 Insurance and Securities.·Ch. 12 Insurance Regulatory Trust Fund.

For the purposes of this chapter, the term:

(1)“Assessable year” means the calendar year in which the direct gross receipts are received or derived from insurance business in the District of Columbia. (1A) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking. (1A-i) “Continuing Care Retirement Community Regulatory and Supervision Trust Account” or “Account” means the account established within the Insurance Regulatory Trust Fund for the purpose of administering Chapter 1A of Title 44 [ § 44-151.01 et seq.], and for reasonable expenses incurred in promoting the continuing care retirement community industry in the District. (1B) “Department of Insurance, Securities, and Banking” means the District of Columbia’s regulatory body which is responsibl

Free access — add to your briefcase to read the full text and ask questions with AI

For the purposes of this chapter, the term:

(1) “Assessable year” means the calendar year in which the direct gross receipts are received or derived from insurance business in the District of Columbia.

(1A) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking.

(1A-i) “Continuing Care Retirement Community Regulatory and Supervision Trust Account” or “Account” means the account established within the Insurance Regulatory Trust Fund for the purpose of administering Chapter 1A of Title 44 [ § 44-151.01 et seq.], and for reasonable expenses incurred in promoting the continuing care retirement community industry in the District.

(1B) “Department of Insurance, Securities, and Banking” means the District of Columbia’s regulatory body which is responsible for administering the insurance laws and health maintenance organization laws of the District of Columbia.

(2) “Direct gross receipts” means all policy and membership fees and net premium receipts or consideration received in a calendar year on all insurance risks and annuity contracts originating in or from the District of Columbia. Direct gross receipts shall not include any policy or membership fees, net premium receipts, or consideration received from or paid by the District of Columbia’s Department of Health Care Finance.

(3) Repealed.

(4) “Insurer” means any person, firm, association, or corporation duly licensed in the District of Columbia pursuant to the applicable provisions of District insurance law as an insurer. In addition, Group Hospitalization and Medical Service Incorporated, shall be defined as an insurer.

(5) “Net premium receipts or consideration received” means gross premiums or consideration received less the sum of premiums received for reinsurance assumed and premiums or consideration returned on policies or contracts canceled or not taken.

(6) Repealed.

District of Columbia § 31-1201 (Definitions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Oct. 21, 1993, D.C. Law 10-40, § 2, 40 DCR 6009; Apr. 9, 1997, D.C. Law 11-235, § 24(a), 44 DCR 818; May 21, 1997, D.C. Law 11-268, § 10(y), 44 DCR 1730; Mar. 24, 1998, D.C. Law 12-81, § 36(a), 45 DCR 745; June 11, 2004, D.C. Law 15-166, § 4(h)(1), 51 DCR 2817; Apr. 5, 2005, D.C. Law 15-270, § 201(a), 52 DCR 799; Sept. 24, 2010, D.C. Law 18-223, § 5024, 57 DCR 6242