Premiums of mutual companies.
The maximum premium shall be expressed in the policy of a mutual company, and it may be solely a cash premium, or may be a cash premium and an additional contingent premium, which contingent premium shall be not less than the cash premium, but no mutual company, except as otherwise provided in § 31-2502.14, shall issue any policy for a cash premium without an additional contingent premium until and unless it possesses a surplus of not less than $600,000.
Annotations
Oct. 9, 1940, 54 Stat. 1076, ch. 792, ch. II, § 25 Aug. 14, 1973, 87 Stat. 305, Pub. L. 93-89, title IV, § 401 1973 Ed., § 35-1329. 1981 Ed., § 35-1529. This section is referenced in § 31-2502.14.
Sourced from the DC Council Open Law Library (public domain).
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