Applicability; membership interest; powers

1. Law
2. District of Columbia Code
3. Insurance and Securities
4. Holding Companies
5. Reciprocal Insurance Company Conversion
6. Applicability; membership interest; powers

(a) A membership interest in a mutual insurance holding company shall not constitute an equity security as defined in § 31-603.

(b) A mutual insurance holding company created under this subchapter shall have the same powers to borrow or assume liability as a reciprocal insurance company organized under District law.

(May 12, 1998, D.C. Law 12-112, § 7, 45 DCR 1792.)

Prior Codifications

1981 Ed., § 35-3746.

Emergency Legislation

See Historical and Statutory Notes following § 31-751.

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