Final approval by Commissioner. (a) The following shall be submitted to the Commissioner for final approval of the domestication agreement as required under § 31-2302(a)(3): (1) An executed counterpart of the domestication agreement; (2) Certified copies of the corporate proceedings of the acquiring insurer and the Non-U.S. insurer approving, adopting, and authorizing the execution of the domestication agreement; (3) A certification by an officer of the United States branch that the domestication agreement satisfies the requirements of this chapter; and (4) In the case of a foreign insurer, the written approval of the chief insurance regulatory official of the state in which the foreign insurer is organized. (b) If he is satisfied that the domestication agreement complies with this chapter, that all the required documents have been submitted, and that the interests of policyholders and creditors of the United States branch are not materially adversely affected, the Commissioner may approve, as required under § 31-2302(a)(3), the domestication agreement. (Oct. 21, 2000, D.C. ers and creditors of the United States branch are not materially adversely affected, the Commissioner may approve, as required under § 31-2302(a)(3), the domestication agreement. (Oct. 21, 2000, D.C. Law 13-194, § 6, 47 DCR 7427.) Section References This section is referenced in § 31-2303 and § 31-2306.
District of Columbia Legal Code