District Of Columbia § 31-1372.12 - Additional investment authority.
Full text of District Of Columbia D.C. Code § 31-1372.12 — Additional investment authority., with citation guidance and answers to common questions.
§ 31-1372.12. Additional investment authority.
31-1372.12Solely for the purpose of acquiring investments that exceed the quantitative limitations of §§ through , an insurer may acquire under this subsection an investment, or engage in investment practices, described in ; provided, that an insurer shall not acquire and investment, or engage in investment practices, described in under this subsection if, as a result of and after giving effect to the transaction:
The aggregate amount of investments held by an insurer under this subsection would exceed 3% of its admitted assets; or
The aggregate amount of investments as to one limitation in §§ through held by the insurer under this subsection would exceed 1% of its admitted assets.
In addition to the authority provided under subsection (a) of this section, subject to paragraph (2) of this subsection, an insurer may acquire under this subsection an investment of any kind, or engage in investment practices described in , that are not specifically prohibited by this chapter without regard to the categories, conditions, standards, or other limitations of §§ through if, as a result of and after giving effect to the transaction, the aggregate amount of investments held under this subsection would not exceed the lesser of:
Ten percent of its admitted assets; or
Seventy-five percent of its capital and surplus.
An insurer shall not acquire any investment or engage in any investment practice under this subsection if, as a result of and after giving effect to the transaction, the aggregate amount of all investments in any one person held by the insurer under this subsection would exceed 3% of its admitted assets.
In addition to the investments acquired under subsections (a) and (b) of this section, an insurer may acquire under this subsection an investment of any kind, or engage in investment practices described in , that are not specifically prohibited by this chapter without regard to any limitations of §§ through if:
The Commissioner grants prior approval;
The insurer demonstrates that its investments are being made in a prudent manner and that the additional amounts will be invested in a prudent manner; and
As a result of and after giving effect to the transaction, the aggregate amount of investments held by the insurer under this subsection does not exceed the greater of:
Twenty-five percent of its capital and surplus; or
One hundred percent of capital and surplus, less 10% of its admitted assets.
An investment prohibited under or or additional derivative instruments acquired under shall not be acquired under this section.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 31-1372.12
What does D.C. Code § 31-1372.12 cover?
Section 31-1372.12 ("Additional investment authority.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 31-1372.12?
A common citation format is "D.C. Code § 31-1372.12" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 31-1372.12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.