Insurance Proposals for the District of Columbia: Hearings Before the Subcommittee on Business, Commerce, and Taxation of the Committee on the District of Columbia, House of Representatives, Ninety-third Congress, First Session ... April 5 and July 16, 1973 |
From inside the book
Results 6-10 of 15
Page 30
... approval of the Commissioner , as servicing facilities , except such designation may be declined by a member insurer ; and ( 7 ) reimburse each servicing facility for obligations of the Association paid by the facility and for ex- 21 ...
... approval of the Commissioner , as servicing facilities , except such designation may be declined by a member insurer ; and ( 7 ) reimburse each servicing facility for obligations of the Association paid by the facility and for ex- 21 ...
Page 34
... would be reimbursed and shall be paid for its 24 performance of any other functions of the Association . A 25 delegation under this subsection shall take effect only with 21 11 1 the approval of both the Board and the 34.
... would be reimbursed and shall be paid for its 24 performance of any other functions of the Association . A 25 delegation under this subsection shall take effect only with 21 11 1 the approval of both the Board and the 34.
Page 35
... approval of both the Board and the Commissioner , and 2 may be made only to a corporation , association , or orga- 3 nization which extends protection in a manner substan- 4 tially similar to that provided by this title . 5 ( e ) Notice ...
... approval of both the Board and the Commissioner , and 2 may be made only to a corporation , association , or orga- 3 nization which extends protection in a manner substan- 4 tially similar to that provided by this title . 5 ( e ) Notice ...
Page 46
... approval of this subsection and 17 continuously thereafter without any increase of authority , the 18 minimum capital and surplus required of a stock company , 19 and the minimum surplus required of a mutual or reciprocal 20 company ...
... approval of this subsection and 17 continuously thereafter without any increase of authority , the 18 minimum capital and surplus required of a stock company , 19 and the minimum surplus required of a mutual or reciprocal 20 company ...
Page 65
... approval of the Commissioner of the District of Columbia . The Board would adopt a plan of operation , also subject to approval by the Commissioner . In addition to its role as financial guarantor for policyholders , the Associa- tion ...
... approval of the Commissioner of the District of Columbia . The Board would adopt a plan of operation , also subject to approval by the Commissioner . In addition to its role as financial guarantor for policyholders , the Associa- tion ...
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Common terms and phrases
acquiring party Act D.C. Code affiliates amended ance assessment assets authorized bill Board BROYHILL capital and surplus casualty insurance centum Chairman claimant Columbia Insurance Guaranty committee CONGRESS THE LIBRARY covered claims District Government District of Colum District of Columbia dividends domestic insurer enacted examination exempt filed Fire and Casualty funds GRESS group life insurance group term holding company system inserting in lieu insolvent insurer insurance companies Insurance Guaranty Association insurance guaranty fund insurance policy insurer's investment jurisdiction kinds of insurance laws legislation liability LIBRARY OF CONGRES LIBRARY OF CONGRESS lieu thereof limits LOMBARD member insurer ment minimum capital mutual companies mutual life insurance panies payment person plan of operation policyholders premiums tax property and casualty protection registration regulation RESS Revenue ROBINSON section 107 shareholders stock company STUCKEY subsidiaries surplus requirement taxation term life insurance tion W. S. Stuckey Wallach Washington
Popular passages
Page 65 - ... under common control with, the person specified. Control. The term "control" (including the terms "controlling," "controlled by" and "under common control with") means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise.
Page 65 - affiliate' of, or a person 'affiliated' with, a specified person, is a person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified. "(f) Control. The term 'control' (including the terms 'controlling,
Page 2 - ... 30 days of the determination, but such obligation shall include only that amount of each covered claim which is in excess of...
Page 14 - ... by the Association of all pending causes of action. As to any covered claims arising from a judgment under any decision, verdict, or finding based on the default of the insolvent insurer or its failure to defend an insured, the Association...
Page 72 - ... to produce such records, books, or other information papers in the possession of the insurer or its affiliates as shall be necessary to ascertain the financial condition or legality of conduct of such insurer. In the event such insurer fails to comply with such order, the commissioner shall have the power to examine such affiliates to obtain such information.
Page 33 - Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer which is also a covered claim, shall be required to exhaust first his right under such policy. Any amount payable on a covered claim under this Act shall be reduced by the amount of any recovery under such insurance policy.
Page 68 - Every person who is directly or indirectly the beneficial owner of more than 10 per centum of any class of any equity security (other than an exempted security) which is registered on a national securities exchange, or who is a director or an officer of the issuer of such security...
Page 66 - Person" means an individual, a corporation, a partnership, an association, a joint stock company, a business trust, or any organized group of persons, whether incorporated or not, or any receiver or trustee. 22. "Premium...
Page 68 - After the change of control the domestic insurer referred to in subsection a. would not be able to satisfy the requirements for the issuance of a license to write the line or lines of insurance for which it is presently licensed...
Page 68 - Act of 1933 ; (B) any acquisition of the beneficial ownership of a security which, together with all other acquisitions by the same person of securities of the same class during the preceding twelve months...