Applicability; membership interest; powers. (a) A membership interest in a mutual insurance holding company shall not constitute an equity security as defined in § 31-603. (b) A mutual insurance holding company created under this subchapter shall have the same powers to borrow or assume liability as a reciprocal insurance company organized under District law. (May 12, 1998, D.C. Law 12-112, § 7, 45 DCR 1792.) Prior Codifications 1981 Ed., § 35-3746. Emergency Legislation See Historical and Statutory Notes following § 31-751.
District of Columbia Legal Code