Any domestic insurer may, upon the approval of the Commissioner, transfer its domicile to any state in which it is admitted to transact the business of insurance, and upon such a transfer shall cease to be a domestic insurer and shall be admitted to the District, if qualified, as a foreign insurer. The Commissioner shall approve any proposed transfer unless he or she determines such a transfer is not in the best interest of the policyholders of the District.
1981 Ed., § 35-4303.
Effect of Amendments
D.C. Law 15-354 deleted “of Insurance and Securities” following “approval of the Commissioner”.