{"data":{"id":"us-dc/d.c.-code-31-3931.15","jurisdiction":"us-dc","citation":"D.C. Code § 31-3931.15","heading":"Revocation, suspension, or fine.","body":"(a)\nThe Commissioner may revoke or suspend the certificate of authority to transact insurance business in the District of a captive insurer, including, if applicable, a protected cell, which:\n(1)\nHas failed or refused to comply with any provision or requirement of this chapter;\n(2)\nIs impaired in capital or surplus;\n(3)\nIs insolvent;\n(4)\nIs determined, pursuant to Chapter 21 of this title, to be in such condition that further transaction of business by the company will be hazardous to its policyholders, creditors, or the general public;\n(5)\nHas failed or refused to submit any report or statement required by law or order of the Commissioner;\n(6)\nHas failed or refused to comply with any provision of its charter or bylaws;\n(6A)\nHas violated Chapter 22A of this title [§  31-2231.01 et seq.]; provided, that this paragraph shall apply only to District-domiciled risk retention groups licensed as captive insurers;\n(7)\nHas used any method in transacting insurance business pursuant to this chapter which would be detrimental to the operation of the captive insurer or would make its condition unsound with respect to its policyholders or the general public; or\n(8)\nHas failed otherwise to comply with the laws of the District or any jurisdiction.\n\n(b)\nThe Commissioner may also impose a fine not to exceed $5,000 for each violation by a captive insurer, including, if applicable, a protected cell, of any of the provisions found in subsection (a) of this section.","path":["Title 31. Insurance and Securities.","Chapter 39A. Captive Insurance Companies (2004).","Subchapter I. General."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/31-3931.15","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"6b4f0e624b71cfab376819651ab1873cc9cca7a96d2cdc655159491a05c428ac","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-31-3931.14","next":"us-dc/d.c.-code-31-3931.16"},"notice":"GroundRules: Original legal text. Not legal advice."}