District of Columbia · Through 2026-08-20 (D.C. Law 26-175)

D.C. Code § 26-1401.26: Authority of conservator to borrow money; purpose.

Where this section sits in the code

Title 26. Banks and Other Financial Institutions.
Chapter 14. Universal Bank Certification.
Subchapter V. Commissioner Possession, Receivership, Conservatorship, and Liquidation of Universal Banks.

(a)

With the prior approval of the Commissioner, the conservator of a universal bank may borrow money to aid in the operation, reorganization, or liquidation of the bank, including the payment of liquidating dividends.

(b)

With the prior approval of the Commissioner, the conservator may secure money borrowed under subsection (a) of this section by the pledge, hypothecation, or mortgage of the assets of the universal bank.

Collected 2026-08-29T05:44:07Z. Source file · JSON

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