District of Columbia Statutes
§ 31-711 — Receivership.
District of Columbia·Title 31 Insurance and Securities.·Ch. 7 Holding Companies.·Subch. I Holding Company System.
Whenever it appears to the Mayor that any person has committed a violation of this subchapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the Commissioner may proceed as provided under the insurance laws of the District to take possession of the property of such a domestic insurer and to conduct its business, or take any other actions as the Mayor, at the Mayor’s discretion, deems appropriate.
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Legislative History
Oct. 21, 1993, D.C. Law 10-44, § 13, 40 DCR 6027; May 21, 1997, D.C. Law 11-268, § 10(gg)(2), 44 DCR 1730
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.