District of Columbia § 31-1307 Condition on release from delinquency proceedings; conditions on operations during proceedings.

District of Columbia Statutes

§ 31-1307 — Condition on release from delinquency proceedings; conditions on operations during proceedings.

District of Columbia § 31-1307

Title 31Insurance and Securities.

Ch. 13Insurers Rehabilitation and Liquidation Procedures.

This text of District of Columbia § 31-1307 (Condition on release from delinquency proceedings; conditions on operations during proceedings.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 31-1307 (2026).

Text

No insurer that is subject to any delinquency proceedings, whether formal or informal (administrative or judicial), shall:

(1)Be released from the proceeding, unless the proceeding is converted into a judicial rehabilitation or liquidation proceeding;

(2)Be permitted to solicit or accept new business, or request or accept the restoration of any suspended or revoked license or certificate of authority;

(3)Be returned to the control of its shareholders or private management; or

(4)Have any of its assets returned to the control of its shareholders or private management until all payments of or on account of the insurer’s contractual obligations by all guaranty associations, along with all expenses and interest on all payments and expenses, shall have been repaid to the guaranty associ

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No insurer that is subject to any delinquency proceedings, whether formal or informal (administrative or judicial), shall:

(1) Be released from the proceeding, unless the proceeding is converted into a judicial rehabilitation or liquidation proceeding;

(2) Be permitted to solicit or accept new business, or request or accept the restoration of any suspended or revoked license or certificate of authority;

(3) Be returned to the control of its shareholders or private management; or

(4) Have any of its assets returned to the control of its shareholders or private management until all payments of or on account of the insurer’s contractual obligations by all guaranty associations, along with all expenses and interest on all payments and expenses, shall have been repaid to the guaranty associations or a plan of repayment by the insurer shall have been approved by the guaranty association.