Section 26-A4503. CODE OF CONDUCT COMPLIANCE PROGRAM

4503.1The corporation’s board of directors shall appoint a code of conduct compliance officer who shall have the responsibility to investigate all reports of violations of the code of conduct.

4503.2Suspected violations of the code of conduct shall be reported to the compliance officer who shall then promptly investigate the report and prepare a written report of his findings to the board of directors.  The board of directors shall ensure that the compliance officer has the authority and funding to retain independent experts as deemed necessary by compliance officer to assist him or her in any investigations authorized under this section.

4503.3The board of directors of the corporation shall make a written report to the Commissioner of all cases where the board has determined that there has been a violation of the code of conduct.  The report shall set forth the facts upon which any violation of the code of conduct is predicated.  The report shall also set forth any remedial action taken by the corporation in response to the finding that a violation has occurred.

4503.4The corporation shall cooperate with any investigation of a violation of these rules conducted by the Commissioner or other District of Columbia official.

authority

The Commissioner of the Department of Insurance, Securities and Banking, pursuant to the authority set forth in section 4 of the Department of Insurance and Securities Regulation Establishment Act of 1996, effective May 21, 1997 (D.C. Law 11-268; D.C. Official Code § 31-103(a)(1)(2001)) and section 21 of the Hospital and Medical Services Corporation Regulatory Act of 1996, effective April 9, 1997 (D.C. Law 11-245; D.C. Official Code § 31-3520 (2001)).

source

Notice of Final Rulemaking published at 51 DCR 9011, 9013 (September 17, 2004).