(a) All insurers and health maintenance organizations subject to assessments in accordance with this chapter shall be members of an Insurance Regulatory Trust Fund Bureau, organized and maintained by such insurers and health maintenance organizations at their own expense, for the purpose of advising the Commissioner and the Executive Director of the District of Columbia Health Benefit Exchange Authority as to the need for the proposed assessments, including the assessment of health carriers in § 31-3171.03(f), the fairness of the proposed assessments, and any other matters with respect to the administration of the Insurance Regulatory Trust Fund. The Commissioner and the Executive Director of the District of Columbia Health Benefit Exchange Authority shall submit to the Insurance Regulatory Trust Fund Bureau annually, in advance of the Mayor’s budget submission to the Council, a detailed budget showing how the proposed assessments are to be expended.

(b) The board of directors of the Insurance Regulatory Trust Fund Bureau shall consist of no fewer than 15 members and shall include at least a majority of the health carriers issuing qualified health plans and some representation from health carriers issuing qualified dental plans as defined in § 31-3171.01.

(Oct. 21, 1993, D.C. Law 10-40, § 9, 40 DCR 6009; Apr. 9, 1997, D.C. Law 11-235, § 24(k), 44 DCR 818; May 21, 1997, D.C. Law 11-268, § 10(y), 44 DCR 1730; June 11, 2004, D.C. Law 15-166, § 4(h)(3), 51 DCR 2817; Feb. 26, 2015, D.C. Law 20-155, § 5082(b), 61 DCR 9990.)

1981 Ed., § 35-2708.

D.C. Law 15-166 substituted “Commissioner of the Department of Insurance, Securities, and Banking” for “Commissioner of Insurance and Securities”.

The 2015 amendment by D.C. Law 20-155 designated the existing text as (a); rewrote (a); and added (b).

For temporary (90 day) amendment of section, see § 4(h)(3) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).

For temporary (90 days) amendment of this section, see § 5082(b) of the Fiscal Year 2015 Budget Support Emergency Act of 2014 (D.C. Act 20-377, July 14, 2014, 61 DCR 7598, 20 STAT 3696).

For temporary (90 days) amendment of this section, see § 5082(b) of the Fiscal Year 2015 Budget Support Congressional Review Emergency Act of 2014 (D.C. Act 20-449, October 10, 2014, 61 DCR 10915, 20 STAT 4188).

For temporary (90 days) amendment of this section, see § 5082(b) of the Fiscal Year 2015 Budget Support Second Congressional Review Emergency Act of 2014 (D.C. Act 20-566, January 9, 2015, 62 DCR 884, 21 STAT 541).