District of Columbia § 31-3931.07 Investments.

District of Columbia Statutes

§ 31-3931.07 — Investments.

District of Columbia § 31-3931.07

Title 31Insurance and Securities.

Ch. 39ACaptive Insurance Companies (2004).

Subch. IGeneral.

This text of District of Columbia § 31-3931.07 (Investments.) 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 § 31-3931.07 (2026).

Text

(a)A captive insurer shall file with the Commissioner a schedule of its proposed investments, and any material changes thereto, which the Commissioner may approve if he or she determines that the investments do not threaten the solvency or liquidity of the captive insurer. The Commissioner shall not unreasonably disapprove the investments.

(b)A captive insurer or protected cell may make a loan to its parent or affiliated company if the loan:

(1)Is first approved in writing by the Commissioner;

(2)Is evidenced by a note that is in a form that is approved by the Commissioner; and

(3)Does not include any money that has been set aside as capital or surplus as required by § 31-3931.06(a) or (f).

(c)Notwithstanding subsection (b) of this section, a risk retention group licensed

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(a) A captive insurer shall file with the Commissioner a schedule of its proposed investments, and any material changes thereto, which the Commissioner may approve if he or she determines that the investments do not threaten the solvency or liquidity of the captive insurer. The Commissioner shall not unreasonably disapprove the investments.

(b) A captive insurer or protected cell may make a loan to its parent or affiliated company if the loan:

(1) Is first approved in writing by the Commissioner;

(2) Is evidenced by a note that is in a form that is approved by the Commissioner; and

(3) Does not include any money that has been set aside as capital or surplus as required by § 31-3931.06(a) or (f).

(c) Notwithstanding subsection (b) of this section, a risk retention group licensed as a captive insurer shall be subject to subchapters I, III, and V of Chapter 13A of this title [§§ 31-1371.01 through 31-1371.07 , 31-1373.01 through 31-1373.12 , and 31-1375.01 ].

Legislative History

Mar. 17, 2005, D.C. Law 15-262, § 8, 52 DCR 1205; Mar. 14, 2012, D.C. Law 19-103, § 2(c), 59 DCR 432; Mar. 10, 2015, D.C. Law 20-203, § 2(d), 61 DCR 12572