Title 28, Commercial Instruments and Transactions. [Enacted title]

(a) In enforcing this chapter, the Attorney General may accept an assurance of discontinuance of an act or practice considered in violation of this chapter from any person engaged in the act or practice. (b) The assurance of discontinuance shall be in writing and shall be effecti…

Except as provided in section 28-4505(k) , the Attorney General may cooperate with the federal government and the states in the enforcement of this chapter.

The remedies provided for in this chapter are cumulative.

It is the intent of the Council of the District of Columbia that in construing this chapter, a court of competent jurisdiction may use as a guide interpretations given by federal courts to comparable antitrust statutes.

If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the pr…

Nothing contained in this chapter shall be applicable to conduct or activity specifically regulated, permitted, or required by any regulatory body, agency, or commission acting under statutory authority of the District of Columbia or the United States.

For the purposes of this chapter, the term: (1) “Cash and carry” means the purchaser is responsible for the transportation of a purchased article or product to the purchaser’s designated destination. (2) “Cigarettes” means any size or shaped roll for smoking that is made of tobac…

(a) It shall be unlawful for any individual, corporation, joint stock company, business trust, partnership, business association, or other legal entity engaged in business within the District of Columbia, for the purpose of injuring competitors or destroying competition, to sell,…

The prohibitions of § 28-4522 shall not apply to any sale made: (1) In closing out in good faith the wholesaler’s or retailer’s stock, or any part thereof, for the purpose of discontinuing the wholesaler’s or retailer’s trade in any such stock, and in the case of the sale of seas…

The secret payment or allowance of rebates, refunds, commissions, or unearned discounts for cigarettes, whether in the form of money or otherwise, or secretly extending to certain purchasers of cigarettes special services or privileges not extended to all purchasers of cigarettes…

Any appropriate agency of the District of Columbia or any person injured by any violation of the provisions of this chapter, or any trade association representative of such a person, may bring an action in the Superior Court of the District of Columbia to prevent, restrain, or en…

A final judgment or decree determining that a person has violated this chapter in an action brought by the District of Columbia under § 28-4522 or § 28-4524, other than a consent judgment or decree entered before any testimony at trial has been taken or entered pursuant to a plea…

(a) The Mayor may issue proposed rules, pursuant to subchapter I of Chapter 5 of Title 2, to implement the provisions of this chapter. The proposed rules shall be submitted to the Council for a 45-day period of review, excluding Saturdays, Sundays, legal holidays, and days of Cou…

The Council of the District of Columbia finds that: (1) The excessive prices of prescription drugs in the District of Columbia is threatening the health and welfare of the residents of the District as well as the District government’s ability to ensure that all residents receive …

For the purposes of this chapter, the term: (1) “Affected party” means any person directly or indirectly affected by excessive prices of patented prescription drugs, including any organization representing such persons or any person or organization representing the public interes…

It shall be unlawful for any drug manufacturer or licensee thereof, excluding a point of sale retail seller, to sell or supply for sale or impose minimum resale requirements for a patented prescription drug that results in the prescription drug being sold in the District for an e…

(a) A prima facie case of excessive pricing shall be established where the wholesale price of a patented prescription drug in the District is over 30% higher than the comparable price in any high income country in which the product is protected by patents or other exclusive marke…

(a) Any affected party, including the District of Columbia, shall have standing to file a civil suit in a court of competent jurisdiction for a violation of this chapter and to seek a remedy, including declaratory and injunctive relief. If the District of Columbia is the plaintif…

For the purposes of this chapter the term: (1) “Consumer” means any person who is solicited to purchase or who purchases the services of a consumer credit service organization. (2)(A) “Consumer credit service organization” means any person who, with respect to the extension of cr…

(a) A consumer credit service organization that operates in the District shall: (1) Register with the Mayor by filing, on a form prescribed by the Mayor, a registration statement and paying a registration fee of $300; and (2) Pay an annual fee of $200 before April 2 of each subse…

A consumer credit service organization shall not: (1) Charge or receive money or other valuable consideration prior to completion of the services the consumer credit service organization has agreed to perform for a consumer, unless the consumer credit service organization has obt…

(a) A consumer credit service organization that charges or receives money or other valuable consideration prior to completion of services under a contract or agreement shall obtain a surety bond or establish a trust account that guarantees a refund to a consumer of any money or o…

(a) Prior to the execution of a contract or agreement between a consumer and a consumer credit service organization or prior to the receipt by the consumer credit service organization of any money or other valuable consideration, whichever occurs first, the consumer credit servic…

(a) Except as provided in this chapter, no registration pursuant to section 3 [§ 28-4602] shall be suspended or revoked without a hearing pursuant to title 1 of the District of Columbia Administrative Procedure Act (“APA”), approved October 21, 1968 (82 Stat. 1204; § 2-501 et seq…

(a) Any person who violates any provision of this chapter shall be fined not more than not more than the amount set forth in [§ 22-3571.01] per violation, imprisoned for not more than 1 year, or both. (b) Civil fines, penalties, and fees may be imposed as alternative sanctions fo…

(a) The Mayor shall issue proposed rules, pursuant to subchapter I of Chapter 5 of Title 2, to implement the provisions of this chapter. The proposed rules shall be submitted to the Council for a 45-day period of review, excluding Saturdays, Sundays, legal holidays, and days of C…

This chapter may be cited as the “Uniform Principal and Income Act”.

For the purposes of this chapter, the term: (1) “Accounting period” means a calendar year unless another 12-month period is selected by a fiduciary. The term includes a portion of a calendar year or other 12-month period that begins when an income interest begins or ends when an …

(a) In allocating receipts and disbursements to or between principal and income, and with respect to any matter within the scope of subchapters II and III of this chapter, a fiduciary: (1) Shall administer a trust or estate in accordance with the terms of the trust or the will, e…

(a) A trustee may adjust between principal and income to the extent the trustee considers necessary if the trustee invests and manages trust assets as a prudent investor, the terms of the trust describe the amount that may or must be distributed to a beneficiary by referring to t…

After a decedent dies, in the case of an estate, or after an income interest in a trust ends, the following rules apply: (1) A fiduciary of an estate or of a terminating income interest shall determine the amount of net income and net principal receipts received from property spe…

(a) Each beneficiary described in § 28-4802.01(4) is entitled to receive a portion of the net income equal to the beneficiary’s fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more than one distribution of asse…

(a) An income beneficiary is entitled to net income from the date on which the income interest begins. An income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to a trust or successive income inter…

(a) A trustee shall allocate an income receipt or disbursement other than one to which § 28-4802.01(1) applies to principal if its due date occurs before a decedent dies in the case of an estate or before an income interest begins in the case of a trust or successive income inter…

(a) For the purposes of this section, the term “undistributed income” means net income received before the date on which an income interest ends. The term “undistributed income” does not include an item of income or expense that is due or accrued or net income that has been added…

(a) For the purposes of this section, the term “entity” means a corporation, partnership, limited liability company, regulated investment company, real estate investment trust, common trust fund, or any other organization in which a trustee has an interest other than a trust or e…

A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or e…

(a) If a trustee who conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the trust’s general accounting records, the trustee may mainta…

A trustee shall allocate to principal: (1) To the extent not allocated to income under this chapter, assets received from a transferor during the transferor’s lifetime, a decedent’s estate, a trust with a terminating income interest, or a payer under a contract naming the trust o…

To the extent that a trustee accounts for receipts from rental property pursuant to this section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received …

(a) An amount received as interest, whether determined at a fixed, variable, or floating rate, on an obligation to pay money to the trustee, including an amount received as consideration for prepaying principal, shall be allocated to income without any provision for amortization …

(a) Except as otherwise provided in subsection (b) of this section, a trustee shall allocate to principal the proceeds of a life insurance policy or other contract in which the trust or its trustee is named as beneficiary, including a contract that insures the trust or its truste…

If a trustee determines that an allocation between principal and income required by § 28-4804.09, § 28-4804.10, § 28-4804.11, § 28-4804.12, or § 28-4804.15 is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in § 28-…

(a) For the purposes of this section, the term: (1) “Payment” means a payment that a trustee may receive over a fixed number of years or during the life of one or more individuals because of services rendered or property transferred to the payer in exchange for future payments. T…

(a) For the purposes of this section, the term “liquidating asset” means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term “liquidating asset” includes a leasehold, patent, copyright, royal…

(a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows: (1) If received as nominal delay rental or nominal annual rent on a lease, a receipt shall be alloc…