Any domestic insurer may, upon the approval of the Commissioner, transfer its domicile to any state in which it is admitted to transact the business of insurance, and upon such a transfer shall cease to be a domestic insurer and shall be admitted to the District, if qualified, as a foreign insurer. The Commissioner shall approve any proposed transfer unless he or she determines such a transfer is not in the best interest of the policyholders of the District.
CREDIT(S)
(May 24, 1996, D.C. Law 11-127, § 4, 43 DCR 1559; Mar. 24, 1998, D.C. Law 12-81, § 44(b), 45 DCR 745; Apr. 13, 2005, D.C. Law 15-354, § 46(b), 52 DCR 2638.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 35-4303.
Effect of Amendments
D.C. Law 15-354 deleted “of Insurance and Securities” following “approval of the Commissioner”.
Legislative History of Laws
For legislative history of D.C. Law 11-127, see Historical and Statutory Notes following § 31-1701.
For legislative history of D.C. Law 12-81, see Historical and Statutory Notes following § 31-1701.
For Law 15-354, see notes following § 31-101.