{"data":{"id":"us-dc/d.c.-code-31-3932.11","jurisdiction":"us-dc","citation":"D.C. Code § 31-3932.11","heading":"Reinsurance.","body":"An SPFC contract which complies with this subchapter shall be granted credit for reinsurance treatment or otherwise qualifies as an asset or a reduction from liability for reinsurance ceded by a domestic insurer to an SPFC as an assuming insurer pursuant to § 31-502, for the benefit of the counterparty; provided, that:\n\n(1)\nCredit shall be granted only to the extent of the fair value of the assets held in trust for, or irrevocable letters of credit issued by a bank chartered by the District or a member bank of the Federal Reserve System or as approved by the Commissioner, for the benefit of the counterparty under the SPFC contract;\n\n(2)\nThe assets are held in trust pursuant to this subchapter;\n\n(3)\nThe assets are administered in the manner and pursuant to arrangements as provided in this subchapter; and\n\n(4)\nThe assets are held or invested in one or more of the forms allowed by § 31-3932.07.","path":["Title 31. Insurance and Securities.","Chapter 39A. Captive Insurance Companies (2004).","Subchapter II. Special Purpose Financial Captive Insurance Companies."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/31-3932.11","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"1f0ec537c25908eff5b5539c915f3c76aaeea9077c4072213fb9d8fc7ea5d462","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-31-3932.10","next":"us-dc/d.c.-code-31-3932.12"},"notice":"GroundRules: Original legal text. Not legal advice."}