Section 26-A4005. ATTORNEY, SUBSCRIBERS, AND RECIPROCAL INSURER A SINGLE ENTITY

4005.1“Attorney”, as used in this chapter, means the attorney-in-fact of a reciprocal insurer.  The attorney may be an individual, firm, or corporation.

4005.2The attorney of a foreign reciprocal insurer, which insurer is duly authorized to transact insurance in the District, shall not, by virtue of discharge of its duties as such attorney with respect to the insurer’s transactions in the District, be thereby deemed to be doing business in the District within the meaning of any laws of the District applying to foreign persons, or corporations.

4005.3The subscribers and the attorney-in-fact comprise a reciprocal insurer and are a single entity for:

(a) All fees, charges, and taxes imposed by the act; and

(b) Any operation conducted under the reciprocal insurer’s certificate of authority.

authority

The Commissioner of the Department of Insurance, Securities, and Banking, pursuant to the authority set forth in 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).

source

Notice of Emergency and Proposed Rulemaking published at 54 DCR 12099 (December 14, 2007)[EXPIRED]; as amended by Notice of Final Rulemaking published at 55 DCR 479, 480 (January 18, 2008).