Mutual companies — Requirements before doing business

1. Law
2. District of Columbia Code
3. Insurance and Securities
4. Domestic Life Companies
5. Mutual companies — Requirements before doing business

No domestic mutual company shall transact any business until at least 200 persons shall have subscribed in the aggregate for at least $200,000 of insurance and shall have paid in full 1 annual premium in money upon the insurance so subscribed.

(June 19, 1934, 48 Stat. 1148, ch. 672, ch. III, § 17.)

Prior Codifications

1981 Ed., § 35-617.

1973 Ed., § 35-517.

Cross References

Prohibition against assessment companies, see § 31-4331.

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