District of Columbia § 31-2502.14 Applicability of provisions to existing companies.

District of Columbia Statutes

§ 31-2502.14 — Applicability of provisions to existing companies.

District of Columbia § 31-2502.14

Title 31Insurance and Securities.

Ch. 25Fire, Casualty, and Marine Insurance.

Subch. IIPowers and Duties of the Commissioner.

This text of District of Columbia § 31-2502.14 (Applicability of provisions to existing companies.) 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 § 31-2502.14 (2026).

Text

No company shall be exempt from the provisions of this chapter by reason of its having been incorporated in the District or elsewhere prior to the effective date of this chapter, except that, in the case of companies authorized in the District on October 9, 1940, and continuously thereafter without any increase of authority, the minimum capital and surplus required of a stock company, and the minimum surplus required of a mutual or reciprocal company, or of a Lloyd’s organization, by the laws of the District heretofore applicable shall not be increased by this chapter, and provided also that in the case of such continuously authorized companies the provisions of § 31-2502.24 relating to the names of companies, and the provisions of § 31-2502.25 relating to the amount of surplus necessary t

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No company shall be exempt from the provisions of this chapter by reason of its having been incorporated in the District or elsewhere prior to the effective date of this chapter, except that, in the case of companies authorized in the District on October 9, 1940, and continuously thereafter without any increase of authority, the minimum capital and surplus required of a stock company, and the minimum surplus required of a mutual or reciprocal company, or of a Lloyd’s organization, by the laws of the District heretofore applicable shall not be increased by this chapter, and provided also that in the case of such continuously authorized companies the provisions of § 31-2502.24 relating to the names of companies, and the provisions of § 31-2502.25 relating to the amount of surplus necessary to the issuance of policies having no provision for contingent liability, shall not be applicable.

Legislative History

Oct. 9, 1940, 54 Stat. 1070, ch. 792, ch. II, § 14; Aug. 14, 1973, 87 Stat. 304, Pub. L. 93-89, title IV, § 401; Feb. 23, 1980, D.C. Law 3-52, § 4, 27 DCR 26