District Of Columbia § 31-3931.14 - Financial examination.
Full text of District Of Columbia D.C. Code § 31-3931.14 — Financial examination., with citation guidance and answers to common questions.
§ 31-3931.14. Financial examination.
31-3931.14The Commissioner, or his designee, may visit each captive insurer at such times as he or she considers necessary to thoroughly inspect and examine the affairs of the captive insurer or protected cell of a captive insurer to ascertain:
The financial condition of the captive insurer;
The ability of the captive insurer to fulfill its obligations; and
Whether the captive insurer has complied with the provisions of this chapter and the regulations adopted pursuant thereto.
The Commissioner may require a captive insurer to retain qualified independent legal, financial, and examination services from outside the Department to conduct the examination and make recommendations to the Commissioner. The cost of the examination shall be paid by the captive insurer.
[ et seq.] shall apply to examinations conducted pursuant to this section. The Commissioner may waive the requirement in that a captive insurer must be examined at least once every 5 years, if the:
Captive insurer has filed unqualified audited financial statements each year since the captive insurer's last financial examination or the date of licensure;
Commissioner determines that the audited financial statements demonstrate that the captive insurer maintains sufficient surplus to satisfy all of its obligations to its policyholders and creditors;
Captive insurer is in compliance with all applicable District laws and regulations; and
Captive insurer is not a risk retention group licensed as a captive insurer.
For purposes of subsection (a) of this section, protected cells of a captive insurer shall not be separately examined unless the Commissioner has sufficient cause to examine one or more protected cells.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 31-3931.14
What does D.C. Code § 31-3931.14 cover?
Section 31-3931.14 ("Financial examination.") 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 § 31-3931.14?
A common citation format is "D.C. Code § 31-3931.14" (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 § 31-3931.14 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.