§ 31-2305 — Final approval by Commissioner.

District of Columbia § 31-2305

• Jurisdiction: District of Columbia
• Title 31: Insurance and Securities.
• Ch. 23: United States Branch Domestication of Non-U.S. Insurers.

Text

(a) The following shall be submitted to the Commissioner for final approval of the domestication agreement as required under § 31-2302(a)(3) :

(1) An executed counterpart of the domestication agreement;

(2) Certified copies of the corporate proceedings of the acquiring insurer and the Non-U.S. insurer approving, adopting, and authorizing the execution of the domestication agreement;

(3) A certification by an officer of the United States branch that the domestication agreement satisfies the requirements of this chapter; and

(4) In the case of a foreign insurer, the written approval of the chief insurance regulatory official of the state in which the foreign insurer is organized.

(b) If he is satisfied that the domestication agreement complies with this chapter, that all the required documents have been submitted, and that the interests of policyholders and creditors of the United States branch are not materially adversely affected, the Commissioner may approve, as required under § 31-2302(a)(3) , the domestication agreement.

Legislative History

Oct. 21, 2000, D.C. Law 13-194, § 6, 47 DCR 7427