Title 26 — Banks and Other Financial Institutions.

Except as provided in the District of Columbia Regional Interstate Banking Act of 1985 Amendments Act of 1985 [D.C. Law 6-107], all savings banks, or savings companies, or trust companies, or other banking institutions, organized under authority of any act of Congress to do busin…

(a) The Comptroller of the Currency, in addition to the powers now conferred upon him by law for the examination of national banks, is hereby further authorized, whenever he may deem it advisable, to cause examination to be made into the condition of any bank mentioned in § 26-10…

(a) No banking business shall be done in the District of Columbia except by corporations organized in accordance with the provisions of this Code, as amended, or by national banking associations organized in accordance with the laws of the United States or by banks organized in a…

(a) The shareholders, on March 4, 1933, of every savings bank or savings company other than building associations organized under authority of any act of Congress to do business in the District of Columbia, and of every banking institution organized by virtue of the laws of any o…

The additional liability imposed by § 26-104 upon the shareholders of savings banks, savings companies, and banking institutions and the additional liability imposed by § 26-1322 upon the shareholders of trust companies, shall cease to apply on July 1, 1937, with respect to such …

Each such savings bank, savings company, banking institution, and trust company shall, before the declaration of a dividend on its shares of common stock, carry not less than one-tenth part of its net profits of the preceding half year to its surplus fund until the same shall equ…

(a) No corporation, association, partnership, or individual shall carry on any business in the District of Columbia under any name or title containing the word “bank” or the words “trust company” unless: (1) The business is being carried on under the name or title on March 4, 193…

Repealed Repealed.

All acts prohibited by the provisions of § 501 of Title 12 and §§ 334, 656, 1004, and 1005 of Title 18, United States Code, as amended, and §§ 375, 375a, 376, and 503 of Title 12, and §§ 212, 213, 214, 215, 655, 1005, 1014, 1906, and 1909 of Title 18, United States Code, as amend…

It shall be lawful for any notary public who is a stockholder, director, officer, or employee of a bank, trust company, or other corporation to take the acknowledgment of any party to any written instrument executed to or by such corporation, or to administer an oath to any other…

(a) Any financial institution that offers utility bill payment services in the District of Columbia shall not charge any consumer a fee for processing a utility bill payment. The requirements of this section shall apply to any financial institution whose deposits or shares are in…

This chapter may be cited as the “Automated Teller Machine Act of 2000”.

For the purposes of this chapter, the term: (1) “Access area” means a paved walkway or sidewalk which is within 50 feet of an automated teller machine. The term “access area” shall not include publicly maintained walkways, sidewalks, or roads. (2) “Access device” shall have the s…

(a) A District bank, federal bank, District credit union, or federal credit union may establish in the District, and operate on a transaction fee basis, an automated teller machine. A District bank or a District credit union may establish and operate outside of the District an au…

(a) A District bank, federal bank, out-of-state bank, District credit union, federal credit union, or out-of-state credit union which has established a satellite device or point-of-sale terminal in the District shall make the satellite device or point-of-sale terminal available o…

(a) An operator of, or person controlling, an automated teller machine shall adopt procedures for evaluating the safety of an automated teller machine. The procedures shall include a consideration of the following: (1) The extent to which the lighting for the automated teller mac…

(a) A person who controls an access area or a defined parking area shall provide lighting for the access area or defined parking area, and the operator or person controlling an automated teller machine shall provide lighting for the automated teller machine and the exterior of an…

(a) An operator of an automated teller machine in the District shall not impose a surcharge upon a customer for the use of an automated teller machine, including a use where there is a sale of a good or service, unless the surcharge is clearly disclosed to the customer electronic…

(a) An operator of a point-of-sale terminal in the District shall not impose a surcharge upon a person for the use of the point-of-sale terminal unless the surcharge is clearly disclosed to the person before the surcharge is incurred and before the customer is obligated to pay fo…

(a) An operator of an automated teller machine shall clearly and conspicuously disclose on a label or sign posted on the automated teller machine, or in clear view of a person viewing the automated teller machine, the name, address, and telephone number of the Department and the …

(a) Except as provided in subsections (d) and (e) of this section, an automated teller machine operated in the District shall be registered with the Commissioner by the operator of the automated teller machine. The operator shall pay annually to the Commissioner a nonrefundable r…

An operator of an automated teller machine in the District shall maintain and, upon request, make available to the Commissioner, in a form satisfactory to the Commissioner, such books, records, and accounts as will enable the Commissioner to verify the daily activity at each of t…

If the Commissioner finds, after notice and a hearing, that a person has violated this chapter or a rule or regulation promulgated, or order issued, under this chapter, the Commissioner may order the person to pay to the Department a civil penalty in such amount as the Commission…

The Commissioner may promulgate rules and regulations to implement the provisions of this chapter in accordance with subchapter I of Chapter 5 of Title 2.

(a) Any 5 or more persons who desire to form an incorporated building or homestead association, all being citizens of the United States, and a majority of them residents of the District of Columbia, may make, sign, seal, and acknowledge, before some officer authorized to take the…

Such corporation shall have power, in its certificate of incorporation or in its bylaws, to provide that its shares of stock may be issued in series; to limit the number of shares which each stockholder may be allowed to hold; to prescribe the entrance fee to be paid by each stoc…

Any person applying for membership or stock after a month from the time of the incorporation may be required to pay on subscribing such bonus or assessment as may be fixed by said bylaws in order to place said new members or stockholders on a footing with the original members and…

(a) The object of such corporation shall be the accumulation of a capital in money to be derived from the savings and accumulations by the members thereof, to be paid into said corporation in such sums and at such times as may be designated by the bylaws of said corporation, from…

[Repealed or reserved.]

(a) No foreign association shall make loans of any kind or transact any building and loan business within the District of Columbia or maintain an office in the District of Columbia for the purpose of transacting such business until it procures from the Superintendent of Banking a…

The moneys accumulated from time to time shall be offered to such shareholder or shareholders as shall bid the highest premium for preference or priority of right to an advancement of the ultimate value of 1 or more of his or their respective shares. The said premium shall consis…

For every advance made as aforesaid a bond in a penalty equal to the ultimate value of the shares advanced may be required, secured by a first mortgage or deed of trust on real estate, and a pledge of the shares advanced upon, as additional or collateral security, which bond shal…

The shares advanced upon shall participate equally with the other shares in the profits and the amounts paid by the advanced shareholders, together with such proportion of the profits accrued or such rate of interest as said bylaws may determine, the same as allowed on shares wit…

Where advances from the funds on hand cannot be made on satisfactory terms, the shareholders failing to bid therefor, the bylaws may provide for the redemption of shares of stock, with the consent of the shareholders, and in case that cannot be done, for the involuntary withdrawa…

A shareholder shall be entitled to withdraw at any time, by giving such notice as the bylaws may require, where no advance has been made on his shares, in which case he shall be entitled to receive the amount of dues paid in by him on each of his shares, together with such propor…

A shareholder who has been advanced may at any time repay his advance upon application to the corporation, whereupon, on settlement of his account, he shall be charged with the full amount of the advance and of the accrued installments of the premium, if that has been added to th…

Any nonadvanced shareholder failing to pay the instalments due on his share and the fines due from him for such time as the bylaws shall determine, shall forfeit his stock, but may, on application, receive a return of the amount paid in on account of his stock, less the accrued f…

In case any advanced shareholder shall fail to pay all dues, interest, or premiums and shall be in arrears for any part of the same for the period of 2 months, the payment of the same and of the principal of the advance may be enforced by a foreclosure of the securities given for…

Such corporation shall not invest its fund in any real estate except what is necessary for the conduct of its business, but may purchase such property at sales made upon foreclosure of mortgages or in satisfaction of judgments or other liens held by it; provided, that such proper…

The board of directors of any building association incorporated or unincorporated, organized and existing under the laws of the District of Columbia to do or now doing in the District of Columbia a building association business, in their discretion, may purchase the bonds of the …

Any building association incorporated or unincorporated, organized and existing under the laws of the District of Columbia, to do or now doing, in the District of Columbia, a building association business, is authorized and empowered to exchange mortgages or deeds of trust or the…

Any powers, duties, and functions of the Comptroller of the Currency with respect to building associations and building and loan associations operating in the District of Columbia which are not transferred to the Federal Home Loan Bank Board by the specific statutory amendments h…

For the purposes of this chapter, the term: (1) “Check” means any check, draft, money order, personal money order, or other instrument for the transmission or payment of money. (2) “Check cashing” means the exchange of a check for money delivered to the presenter at the time and …

Except as provided in § 26-303 no person, including a person doing so on May 12, 1998, shall engage in the business of cashing checks for consideration without first obtaining a license from the Superintendent [Commissioner] pursuant to this chapter. No separate license under thi…

The provisions of the chapter shall not apply to: (1) Banks, credit unions, trust companies, building and loan associations, and savings and loan associations organized under the laws of the United States or of the District of Columbia or authorized to do business in the District…

(a) An application for a license under this chapter shall be in writing under oath in the form prescribed by the Superintendent [Commissioner of the Department of Insurance, Securities, and Banking]. (b) The application shall include: (1) If the applicant is an individual, the ap…

At the time of filing an application under this chapter, each applicant shall pay to the Superintendent [Commissioner of the Department of Insurance, Securities, and Banking] a non-refundable license fee of $300, except that an applicant for a license to maintain one or more limi…

(a) At the time of filing an application under this chapter, each applicant shall file with the Superintendent [Commissioner of Insurance, Securities, and Banking] a bond in the sum of $5,000 for each location and mobile unit from which the applicant proposes in the application t…

Each applicant shall demonstrate, in a form satisfactory to the Superintendent, [Commissioner] the availability of capital of at least $25,000 for the operation of the business of each location and mobile unit from which the applicant proposes in the application to conduct busine…

(a) Upon the filing of an application in proper form, including the required fee and accompanying documents, the Superintendent [Commissioner] shall issue to the applicant a license to engage in the cashing of checks in the District of Columbia, unless the Superintendent [Commiss…