District of Columbia § 31-3932.14 Standards and criteria applicable in a contested case brought by a third party and certain actions by the Commissioner.

District of Columbia Statutes

§ 31-3932.14 — Standards and criteria applicable in a contested case brought by a third party and certain actions by the Commissioner.

District of Columbia § 31-3932.14

Title 31Insurance and Securities.

Ch. 39ACaptive Insurance Companies (2004).

Subch. IISpecial Purpose Financial Captive Insurance Companies.

This text of District of Columbia § 31-3932.14 (Standards and criteria applicable in a contested case brought by a third party and certain actions by the Commissioner.) 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 § 31-3932.14 (2026).

Text

(a)A contested case brought by a third party based on a decision of the Commissioner pursuant to this subchapter shall be governed by applicable civil law; provided, that, the aggrieved party shall:

(1)Prove the appeal through clear and convincing evidence;

(2)Demonstrate irreparable harm;

(3)Not have another adequate remedy at law; and

(4)Post a bond of sufficient surety to protect the interests of the holders of the SPFC securities and policyholders in an amount not less than 15% of the total amount of the securitized transaction.

(b)If the Commissioner decides to reverse, amend, or modify a certificate of authority issued to an SPFC or the order issued in connection with them for a reason other than that specified in § 31-3931.15 , the Commissioner shall meet the stan

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A contested case brought by a third party based on a decision of the Commissioner pursuant to this subchapter shall be governed by applicable civil law; provided, that, the aggrieved party shall:

(1) Prove the appeal through clear and convincing evidence;

(2) Demonstrate irreparable harm;

(3) Not have another adequate remedy at law; and

(4) Post a bond of sufficient surety to protect the interests of the holders of the SPFC securities and policyholders in an amount not less than 15% of the total amount of the securitized transaction.

(b) If the Commissioner decides to reverse, amend, or modify a certificate of authority issued to an SPFC or the order issued in connection with them for a reason other than that specified in § 31-3931.15 , the Commissioner shall meet the standards and criteria provided in subsection (a) of this section.