Ask the Scholar
Document scope · 1 page
Scholar
Ask about this object, its catalog metadata, its source description, or the page inventory.
For page-specific OCR and visual context, open one of the page chats.
Scholar Source Context
Document identity
localId
7335822
label
President Signs H.R. 7218 Improving Laws Regulating Insurance Companies in the District of Columbia [Signing Statements and Announcements]
core
doc
dtoType
document
citationUrl
pageCount
1
Source metadata
id
7335822
sourceUrl
contentType
document
title
President Signs H.R. 7218 Improving Laws Regulating Insurance Companies in the District of Columbia [Signing Statements and Announcements]
citationUrl
collections
White House Press Releases (Ford Administration)
Press Releases
subjects
U.S. House of Representatives. (03/04/1789 - )
Legislation
largeImageUrl
imageCount
1
hasImages
yes
source
import
hasTranscription
no
Source extras
naId
7335822
levelOfDescription
item
productionDates
day
26
logicalDate
1974-08-26
month
8
year
1974
recordType
description
ocrSource
nara-archive
Single page context
seq
1
pageIndex
0
type
document
mediaId
83794b74648901bb
ocrText
AUGUST 26, 1974
Office of the White House Press Secretary
NOTICE TO THE PRESS
The President has signed H. R. 7218 which improves the laws
regulating insurance companies in the District of Columbia.
H. R. 7218 provides a framework for a D. C. insurer to enter a
holding company system by adopting, with minor changes, a model
bill developed by the National Association of Insurance Companies
in 1969. By January, 1973, 37 States had adopted that model bill.
The purpose of the bill is to meet the needs of insurers to diversify
their activities to serve new and changing needs of insurance buyers.
At the same time the bill provides for appropriate regulation of
D. C. insurers.
Specifically, the bill
-- authorizes D. C. insurers to organize or acquire
subsidiaries;
- prescribes limitations on and provides for regulations
concerning the investments and other activities of D. C.
insurers;
prescribes criteria for such mergers and acquisitions
as are approved;
- - provides registration requirements for insurers;
- - prescribes standards for transactions by insurers with
their affiliates;
- - limits dividends and other distributions;
- - provides additional powers for the D. C. Commissioner;
- MORE -
GERALD LIBRARY P. FORD
Digitized from Box 1 of the White House Press Releases at the Gerald R. Ford Presidential Library
- 2 -
-- provides for confidentiality of certain information
submitted to the Commissioner; and
-- provides for criminal proceedings, receivorship,
and other penalties or procedures to enable the
Commissioner to enforce the law.
###
GERALD P. LEBRARY FORD