District of Columbia Code Division V. Local Business Affairs § 31-2301. Definitions.
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For purposes of this chapter, the term:
(1) “Domestication” means the reorganization under this chapter of the United States branch of a Non-U.S. insurer whereby a domestic or foreign insurer acquires all the business and assets and assumes all the liabilities of the branch.
(2) “Domestic insurer” means a stock insurance company incorporated under the laws of the District of Columbia.
(3) “Foreign insurer” means a stock insurance company incorporated under the laws of any other state of the United States.
(4) “Non-U.S. insurer” means a stock insurance company organized under the laws of a foreign country.
(5) “United States branch” means the business unit through which business is transacted within the United States by a Non-U.S. insurer and the assets and liabilities of the insurer within the United States pertaining to such business.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 31-2301. Definitions. - last updated January 01, 2020 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-31-2301/
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