Code of the District of Columbia

§ 31–5031.07. Admitted asset standards.

In determining the financial condition of a domestic title insurer doing business under this chapter, the general investment provisions of the Chapter 13A of this title [§  31-1371.01 et seq. ], shall apply; provided, that:

(1) An investment in a title plant or plants in an amount equal to the actual cost shall be allowed as an admitted asset for title insurers; and

(2) The aggregate amount of the investment shall not exceed the lesser of 20% of admitted assets or 40% of surplus to policyholders, as shown on the most recent annual statement of the title insurer on file with the Commissioner.

(Sept. 24, 2010, D.C. Law 18-223, § 2148, 57 DCR 6242.)

Emergency Legislation

For temporary (90 day) addition, see § 2148 of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).