District Of Columbia § 31-3931.09 - Application requirements.
Full text of District Of Columbia D.C. Code § 31-3931.09 — Application requirements., with citation guidance and answers to common questions.
§ 31-3931.09. Application requirements.
31-3931.09A captive insurer shall apply to the Commissioner for a certificate of authority. If one or more protected cells are established as separate legal entities, each protected cell shall apply for a certificate of authority. The application shall include:
A proposed copy of the organizational documents of the captive insurer if the captive insurer has not been organized, or a certified copy of the organizational documents and evidence of good standing if the captive insurer has been organized;
A pro forma financial statement for the captive insurer that has been prepared by a certified public accountant; and
Any other statements or documents that the Commissioner requires to be filed with the application.
A captive insurer shall include in its application for a certificate of authority evidence of:
The amount of liquidity of its assets relative to the risks to be assumed by the captive insurer;
The expertise, experience, and character of the persons who will manage the captive insurer;
The overall soundness of the plan of operation of the captive insurer;
The adequacy of the programs that the captive insurer is providing for loss prevention by its parent or member organizations, as applicable;
Minimum capital and surplus requirements as set forth in and (f) [apparently intended to be a reference to and (f)]; and
Such other information considered to be relevant by the Commissioner in ascertaining whether the proposed captive insurer will be able to meet its policy obligations.
An application by a captive insurer or protected cell for a certificate of authority shall include a nonrefundable application fee to be determined by the Commissioner. The Commissioner may require the applicant to retain independent legal, financial, and examination services from outside the Department to review and make recommendations regarding the applicant’s qualifications, and to submit those reports and recommendations to the Commissioner for his or her review. The cost of those services shall be paid by the applicant.
If the Commissioner determines that the documents and statements filed by the captive insurer or protected cell of a captive insurer are complete and satisfy the requirements for a certificate of authority, the Commissioner shall issue a certificate of authority to the captive insurer or protected cell within 30 days. Each certificate shall be renewed each year not later than the 30th day of April succeeding the date of its issuance. The Commissioner may impose an administrative fine or penalty on a captive insurer or protected cell that fails to renew its certificate of authority before August 1. The Commissioner may suspend or revoke the certificate of authority of a captive insurer or protected cell that fails to renew its certificate of authority on or after August 1.
A captive insurer shall pay a fee to be established by the Commissioner for the issuance of a certificate of authority and an annual fee to be established by the Commissioner for the renewal of its certificate of authority. A captive insurer may be required to pay a fee for one or more protected cells.
A captive insurer shall include its strategic business plan with its application for the issuance of its certificate of authority. If the captive insurer intends to make any material or substantive changes to its strategic business plan, the captive insurer shall file a copy of the amended strategic business plan with the Commissioner for prior written approval.
Documents, materials, and other information submitted pursuant to this section shall be confidential and shall be exempt from any otherwise applicable freedom of information law, including [ et seq.], public records law, public records disclosure law, or other similar statute and shall not be subject to subpoena or discovery or admissible in evidence in a private civil action, and shall not be divulged to any person except either as provided for in this subsection or with the written consent of the captive insurer or protected cell.
The Commissioner may use documents, materials, and other information submitted pursuant to this section in the furtherance of any regulatory or legal action brought as a part of the Commissioner's official duties.
To assist in the performance of the Commissioner's duties, the Commissioner may share documents, materials, or other information submitted pursuant to this section with state, federal, and international regulatory agencies, the National Association of Insurance Commissioners, including its affiliates and subsidiaries, and with state, federal, and international law enforcement authorities; provided, that the recipient agrees in writing, and has the legal authority to so agree, to maintain the confidentiality of the documents, materials, and other information.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 31-3931.09
What does D.C. Code § 31-3931.09 cover?
Section 31-3931.09 ("Application requirements.") 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 § 31-3931.09?
A common citation format is "D.C. Code § 31-3931.09" (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 § 31-3931.09 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.