District of Columbia Statutes
§ 31-1315 — Grounds for liquidation.
District of Columbia·Title 31 Insurance and Securities.·Ch. 13 Insurers Rehabilitation and Liquidation Procedures.
The Commissioner may petition the Superior Court of the District of Columbia for an order directing him or her to liquidate a domestic insurer or an alien insurer domiciled in the District on the basis:
(1)Of any ground for an order of rehabilitation as specified in § 31-1310 , whether or not there has been a prior order directing the rehabilitation of the insurer;
(2)That the insurer is insolvent; or
(3)That the insurer is in such a condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.
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Legislative History
Oct. 15, 1993, D.C. Law 10-35, § 16, 40 DCR 5773; May 21, 1997, D.C. Law 11-268, § 10(z)(2), 44 DCR 1730
Nearby Sections
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§ 31-1001
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Student Loan Ombudsman.§ 31-106.02a
Prohibited conduct – student loan servicers.§ 31-106.02b
Affirmative duties – student loan servicers.§ 31-106.02c
Prohibited acts – private education lenders.