Mutual companies — Requirements before doing business. No domestic mutual company shall transact any business until at least 200 persons shall have subscribed in the aggregate for at least $200,000 of insurance and shall have paid in full 1 annual premium in money upon the insurance so subscribed. (June 19, 1934, 48 Stat. 1148, ch. 672, ch. III, § 17.) Prior Codifications 1981 Ed., § 35-617. 1973 Ed., § 35-517. Cross References Prohibition against assessment companies, see § 31-4331.
District of Columbia Legal Code