Assessment companies prohibited. Any company which makes insurance or reinsurance the performance of which is not guaranteed by the reserves required by this subdivision, but is contingent upon the payment of assessments or calls made upon its members, shall not be formed, admitted, or licensed in the District. (June 19, 1934, 48 Stat. 1142, ch. 672, ch. II, § 32; May 4, 1950, 64 Stat. 104, ch. 157, § 3.) Prior Codifications 1981 Ed., § 35-431. 1973 Ed., § 35-431.
District of Columbia Legal Code