Section 26-A4022. AGGREGATE OR CONTINGENT LIABILITY

4022.1No one policy or subscriber as to such policy shall be assessed or charged with an aggregate or contingent liability as to the obligations incurred by a domestic reciprocal insurer in any one calendar year in excess of the amount provided for in the power of attorney or in the subscribers’ agreement, computed solely upon premium earned on such policy during that year.

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, 488 (January 18, 2008).