D.C. Code § 31-756

Applicability; membership interest; powers

May 12, 1998, D.C

(a) A membership interest in a mutual insurance holding company shall not constitute an equity security as defined in § 31-603.

(b) A mutual insurance holding company created under this subchapter shall have the same powers to borrow or assume liability as a reciprocal insurance company organized under District law.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.