Premiums of mutual companies

  1. Law
  2. District of Columbia Code
  3. Insurance and Securities
  4. Fire, Casualty, and Marine Insurance
  5. Powers and Duties of the Commissioner
  6. Premiums of mutual companies

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The maximum premium shall be expressed in the policy of a mutual company, and it may be solely a cash premium, or may be a cash premium and an additional contingent premium, which contingent premium shall be not less than the cash premium, but no mutual company, except as otherwise provided in § 31-2502.14, shall issue any policy for a cash premium without an additional contingent premium until and unless it possesses a surplus of not less than $600,000.

(Oct. 9, 1940, 54 Stat. 1076, ch. 792, ch. II, § 25; Aug. 14, 1973, 87 Stat. 305, Pub. L. 93-89, title IV, § 401.)

Prior Codifications

1981 Ed., § 35-1529.

1973 Ed., § 35-1329.

Section References

This section is referenced in § 31-2502.14.


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