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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 26. INSURANCE, SECURITIES, AND BANKING |
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SubTilte 26-A. INSURANCE |
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Chapter 26-A41. TITLE INSURANCE RATE MAKING |
Section 26-A4105. APPROVAL OR DISAPPROVAL OF RATES
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4105.1Unless the Commissioner finds that a filing does not meet the requirements of this
chapter, or is otherwise contrary to other applicable law, the Commissioner shall
approve the filing.
4105.2If the Commissioner approves a filing prior to the waiting period in subsection
4105.4, or disapproves a filing, such action must be made in writing.
4105.3If the Commissioner disapproves a filing, the Commissioner shall specify how the
filing fails to meet the requirements of this chapter or is otherwise contrary to
other applicable law.
4105.4If a filing is not disapproved by the Commissioner within thirty (30) days after the date of filing, or within forty-five (45) days after the date of filing if the Commissioner extends the waiting period in writing during the initial thirty (30) day period, the filing is deemed approved and the effective date of the filing is the end of the thirty (30) day or forty-five (45) day waiting period.
4105.5The Commissioner shall have the authority to investigate and hold a hearing to
review rate filings on the same basis as, and in accordance with, the provisions
found in § 4 of An Act To provide regulation of certain insurance rates in the
District of Columbia, and for other purposes, approved May 20, 1948 (D.C.
Official Code § 31-2704; 62 Stat. 243).
4105.6In determining the necessity for an adjustment of title insurance rates, the
Commissioner shall be bound by the provisions of this chapter or other applicable
law.