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District of Columbia Code Division V. Local Business Affairs § 31-3607. Minimum number of members for associations.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Prior to advertising, marketing, or offering a group long-term care insurance policy within the District of Columbia, an association or associations, or an insurer of the association or associations, shall file evidence with the Commissioner that the association, or associations has:

(1) At the outset, a minimum of 100 members;

(2) Been organized and maintained in good faith for purposes other than that of obtaining insurance;

(3) Been in active existence for at least one year; and

(4) A constitution and bylaws which provide the following:

(A) That the association or associations hold regular meetings not less than annually to further the purposes of the members;

(B) That, except for credit unions, the association or associations collect dues or solicit contributions from members; and

(C) That the members have voting privileges and representation on the governing board and committees.

(b) Thirty days after the filing required by subsection (a) of this section, the association or associations shall be deemed to have satisfied the organizational requirements of subsection (a) of this section unless the Commissioner make a finding that the association, or associations, does not satisfy the organizational requirements.

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Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 31-3607. Minimum number of members for associations. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-31-3607/

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