In this subdivision, unless the context otherwise requires:
(1) “District” means the District of Columbia.
(2) “Mayor” means the Mayor of the District of Columbia.
(3) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking of the District of Columbia, or the officer or officers, agency or agencies succeeding to his functions under Reorganization Plan No. 5 of 1952.
(4) “Department” means the Department of Insurance, Securities, and Banking of the District of Columbia.
(5) “Company” means any life insurance company and includes a corporation, company, or association of persons engaged in, or proposing to engage in, the business of life insurance.
(6) “Domestic company” means an insurance company organized under the laws of the District, or formed or organized under an act of Congress.
(7) “Foreign company” means an insurance company organized under the laws of any state of the United States, or of any territory or insular possession of the United States.
(8) “Alien company” means a company organized under the laws of any country other than the United States or a territory or insular possession thereof.
(9) “Person” includes individuals, corporations, associations, and partnerships; personal pronouns include all genders; the singular includes the plural, and the plural includes the singular.
(10) The term “general agent” in this subdivision shall include an individual, copartnership, or corporation authorized in writing by a company, association, or exchange to solicit risks and collect premiums, and/or issue policies in its behalf.
(11) The term “agent” in this subdivision shall include an individual, copartnership, or corporation authorized in writing by a company, association, or exchange to solicit risks and collect premiums in its behalf.
(12) The term “solicitor” in this subdivision shall include any individuals authorized in writing by a duly licensed agent to solicit risks and collect premiums in behalf of said agent.
(13) The terms “agent” and “solicitor” shall not include officers or salaried employees of any company, association, or exchange which is authorized to transact business in the District, who do not solicit, negotiate, or place risks.
(14) The term “broker” in this subdivision shall include consultant, surveyor and/or any person, partnership, association, or corporation who, for money, commission, or anything of value, acts or aids in any manner on behalf of the insured in negotiating contracts of insurance or placing risks or taking out insurances, including surety bonds.
(15) “Net premium receipts” means gross premiums received less the sum of the following:
(A) Premiums returned on policies cancelled or not taken;
(B) Premiums paid for reinsurances where the same are paid to companies duly licensed to do business in the District; and
(C) Dividends paid in cash or used by policyholders in payment of renewal premiums or in purchase of paid-up additional insurance.
(16) “Surplus” means the excess of admitted assets over liabilities and capital, in the case of a company with capital stock, and the excess of admitted assets over liabilities in the case of a company without capital stock.
(17) “Liabilities” means all debts, due or to become due, contingent or otherwise, of which the company has knowledge, and includes the reserves required by this subdivision.
(18) “Industrial life insurance” means that form of life insurance, either: (A) Under which the premiums are payable weekly; or (B) under which the premiums are payable monthly or oftener; if the face amount of insurance provided in the policy is less than $1,000, and the words “industrial policy” are plainly printed upon the policy as a part of the descriptive matter.
(19) “Admitted assets” includes the investments authorized or permitted pursuant to the National Association of Insurance Commissioners Accounting Practices and Procedures Manual.
(20) “Domestic partner” shall have the same meaning as provided in § 32-701(3).
(21) “Domestic partnership” shall have the same meaning as provided in § 32-701(4)).
