Section 26-A3709. BOARD MEETINGS

 

3709.1The board of directors of a captive insurer shall meet at least annually in the District of Columbia (District).  The board of directors may permit any or all directors to participate in any regular or special meeting by the use of any means of communication  which allows all directors participating to simultaneously hear each other during the meeting.  A director participating in a meeting by such means of communication shall be deemed present in person at the meeting.  

 

3709.2A meeting of the Board of Directors shall be deemed to have taken place in the District if notice of the meeting delineates a location physically located in the District at which at least one Director, Officer, Assistant Officer, official of an approved Captive Manager, or approved captive attorney is physically present.

 

 

authority

Section 22 of the Captive Insurance Company Act of 2004, effective March 17, 2005 (D.C. Law 15-262; D.C. Official Code § 31-3931.21 (2011 Repl.)).

source

Final Rulemaking published at 48 DCR 8034(August 24, 2001); as amended by Final Rulemaking published at 59 DCR 13088 (November 16, 2012); as amended by Final Rulemaking published at 60 DCR 13175 (September 20, 2013).