District of Columbia Statutes
§ 31-1803 — Required contract provisions; reinsurance intermediary-brokers.
District of Columbia § 31-1803
This text of District of Columbia § 31-1803 (Required contract provisions; reinsurance intermediary-brokers.) 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 § 31-1803 (2026).
Text
Transactions between a reinsurance broker and the insurer it represents shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that:
(1)The insurer may terminate the reinsurance broker’s authority at any time.
(2)The reinsurance broker shall render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges, and other fees received by, or owing to, the reinsurance broker, and remit all funds due to the insurer within 30 days of receipt.
(3)All funds collected for the insurer’s account will be held by the reinsurance broker in a fiduciary capacity in a bank which is a qualified United States financial ins
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Legislative History
Oct. 21, 1993, D.C. Law 10-47, § 4, 40 DCR 6093
Nearby Sections
15
§ 31-1001
Report requirement.§ 31-1004
Confidentiality.§ 31-101
Definitions.§ 31-103
Functions and duties.§ 31-105
Transfers.§ 31-106
Organization.§ 31-106.01
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.Cite This Page — Counsel Stack
Bluebook (online)
District of Columbia § 31-1803, Counsel Stack Legal Research, https://law.counselstack.com/statute/dc/31-1803.