District Of Columbia § 31-707.01 - Supervisory Colleges.
Full text of District Of Columbia D.C. Code § 31-707.01 — Supervisory Colleges., with citation guidance and answers to common questions.
§ 31-707.01. Supervisory Colleges.
31-707.01With respect to any insurer registered under , and in accordance with subsection (c) of this section, the Mayor shall have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order to determine compliance by the insurer with this subchapter. The powers of the Mayor with respect to supervisory colleges shall include the following:
Initiating the establishment of a supervisory college;
Clarifying the membership and participation of other supervisors in the supervisory college;
Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor;
Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and
Establishing a crisis management plan.
Each registered insurer subject to this section shall be liable for and shall pay the reasonable expenses of the Mayor’s participation in a supervisory college in accordance with subsection (c) of this section, including reasonable travel expenses. For the purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates, and the Mayor may establish a regular assessment to the insurer for the payment of these expenses.
To assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management, and governance processes, and as part of the examination of individual insurers, in accordance with , the Mayor may participate in a supervisory college with other regulators charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies. The Mayor may enter into agreements in accordance with providing the basis for cooperation between the Mayor and the other regulatory agencies, and the activities of the supervisory college.
Nothing in this section shall delegate to the supervisory college the authority of the Mayor to regulate or supervise the insurer or its affiliates within its jurisdiction.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 31-707.01
What does D.C. Code § 31-707.01 cover?
Section 31-707.01 ("Supervisory Colleges.") 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 § 31-707.01?
A common citation format is "D.C. Code § 31-707.01" (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 § 31-707.01 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.