District of Columbia Statutes
§ 31-5510 — Prevention of insolvencies.
District of Columbia·Title 31 Insurance and Securities.·Ch. 55 Property and Liability Insurance Guaranty Association.
To aid in the detection and prevention of insurer insolvencies:
(1)The board of directors may, upon majority vote:
(A)Make recommendations to the Mayor for the detection and prevention of insurer insolvencies; and
(B)Respond to requests by the Mayor to discuss and make recommendations regarding the status of any member insurer whose financial condition may be hazardous to policyholders or the public. The recommendations shall not be considered public documents.
(2)The board of directors may, at the conclusion of any domestic insurer insolvency in which the Association was obligated to pay covered claims, prepare a report on the history and causes of the insolvency, based on the information available to the Association, and submit the report to the Mayor.
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Legislative History
Oct. 21, 1993, D.C. Law 10-51, § 11, 40 DCR 6120
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.