District of Columbia § 31-5510 Prevention of insolvencies.

District of Columbia Statutes

§ 31-5510 — Prevention of insolvencies.

District of Columbia § 31-5510

Title 31Insurance and Securities.

Ch. 55Property and Liability Insurance Guaranty Association.

This text of District of Columbia § 31-5510 (Prevention of insolvencies.) 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 § 31-5510 (2026).

Text

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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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.