District of Columbia Code
Title 26 - Banks and Other Financial Institutions
Chapter 8A - Merchant Banks

Subchapter I - General Provisions

§ 26–831.01. Short title - This chapter may be cited as the “Merchant Bank Act...

§ 26–831.02. Definitions - For the purposes of this chapter, the term: (1) “Affiliate”...

Subchapter II - Application and Certification as a Merchant Bank

§ 26–831.03. Application for merchant bank charter; review and approval or disapproval of application - (a) A person described in § 26-833.09(a) may apply for...

§ 26–831.04. Issuance of certificate of authority - If the Commissioner approves the application of an applicant to...

§ 26–831.05. Revocation or subsequent limitation of certificate of authority - If a merchant bank fails to maintain the standards and...

§ 26–831.06. Voluntary termination of certification of authority - An applicant that is chartered as a merchant bank under...

Subchapter III - Powers and Authority of a Merchant Bank

§ 26–831.07. Powers of merchant banks; limits on powers - (a) Except as provided in this chapter, a merchant bank...

Subchapter IV - Structure and Organization of a Merchant Bank; Capital Requirements

§ 26–831.08. Capital requirements of a merchant bank - (a) The minimum amount of initial capital for a merchant...

§ 26–831.09. Structure and organization of merchant banks - (a) A merchant bank may be organized as a corporation,...

§ 26–831.10. Policies of merchant bank’s business activities - (a) The board of directors of a merchant bank, if...

Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Merchant Banks

§ 26–831.11. Liquidation of merchant banks in general - A merchant bank shall not be liquidated except as provided...

§ 26–831.12. Commissioner taking possession of merchant banks - (a) Subject to § 26-1401.15 as it relates to the...

§ 26–831.13. Resumption of business by a merchant bank - A merchant bank of which the Commissioner takes possession or...

§ 26–831.14. Appointment of a receiver for a merchant bank - (a) The Commissioner may petition the Superior Court to appoint...

§ 26–831.15. Receiver duties and powers - (a) Subject to Superior Court approval, a receiver shall: (1)...

§ 26–831.16. Lien on property or assets; voidable transfer - (a) Except as provided in subsection (c) of this section,...

§ 26–831.17. Maintenance and disposal of records by receiver - (a) With the approval of the Superior Court, a receiver...

§ 26–831.18. Conservator; appointment; bond and security; qualifications; expenses - (a) If any of the grounds under § 26-833.12 authorizing...

§ 26–831.19. Conservator; rights, powers, and privileges - (a) Under the supervision of the Commissioner, the conservator shall...

§ 26–831.20. Authority of conservator to borrow money; purpose - (a) With the prior approval of the Commissioner, the conservator...

§ 26–831.21. Termination of conservatorship - (a) If the Commissioner determines that termination of the conservatorship...

Subchapter VI - Miscellaneous Provisions

§ 26–831.22. Rules - The Commissioner may prescribe rules governing the activities of merchant...