(a)(1) If an applicant does not meet the requirements of § 26-1103, the Superintendent [Commissioner] shall:
(A) Immediately notify the applicant in writing of this fact;
(B) Return the bond filed under § 26-1103; and
(C) Refund the license fee.
(2) The Superintendent [Commissioner] shall, subject to the appropriations process, keep the investigation fee and application fee.
(b) Within 30 days after the Superintendent [Commissioner] denies an application, the Superintendent [Commissioner] shall:
(1) Issue a written decision containing the reasons upon which the denial was based;
(2) Send a copy of the decision to the applicant; and
(3) Advise the applicant of a right to a hearing which shall be held in accordance with subchapter I of Chapter 5 of Title 2.
(c)(1) An applicant who seeks a hearing on a license application denial shall file a written request for a hearing within 45 days following receipt of the written decision for denial.
(2) A hearing date established in response to the filing of a notice under this subsection may be postponed only once for a period of up to 30 days after the initial hearing date.
(Sept. 9, 1996, D.C. Law 11-155, § 7, 43 DCR 4213.)
1981 Ed., § 26-1006.
Structure District of Columbia Code
Title 26 - Banks and Other Financial Institutions
Chapter 11 - Mortgage Lenders and Brokers
§ 26–1103. License requirements
§ 26–1104. Issuance of license
§ 26–1105. Acquisition of control; application
§ 26–1106. Rejection of license application
§ 26–1107. License expiration and renewal; annual fee
§ 26–1108. Change of place of business
§ 26–1109. Record keeping requirements
§ 26–1111. Surrender of license
§ 26–1112. Examinations and investigations
§ 26–1113. Required loan disclosures
§ 26–1114. Prohibited practices
§ 26–1117. Evasive business tactics
§ 26–1118. Suspension, revocation, and enforcement
§ 26–1120. Limitation on name of mortgage business
§ 26–1120.01. Confidential information
§ 26–1120.02. Nationwide Mortgage Licensing System and Registry reporting requirements
§ 26–1120.03. Nationwide Mortgage Licensing System and Registry information challenge process
§ 26–1121. Authority of Commissioner to issue rules and regulations