District of Columbia § 26-107 Restriction on use of words “bank” and “trust company”; violations.

District of Columbia Statutes

§ 26-107 — Restriction on use of words “bank” and “trust company”; violations.

District of Columbia·Title 26 Banks and Other Financial Institutions.·Ch. 1 Banking Institutions in General.

(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, 1933;

(2)The business is carried on under the supervision of the Comptroller of the Currency and the name or title is approved by the Comptroller of the Currency; or

(3)The business is carried on under the supervision of the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking] and the name or title is approved by the Superintendent of Banking and Financial Institutions [Commissioner].

(b)Any individual who, or corporation, association,

Free access — add to your briefcase to read the full text and ask questions with AI

(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, 1933;

(2) The business is carried on under the supervision of the Comptroller of the Currency and the name or title is approved by the Comptroller of the Currency; or

(3) The business is carried on under the supervision of the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking] and the name or title is approved by the Superintendent of Banking and Financial Institutions [Commissioner].

(b) Any individual who, or corporation, association, or partnership which, violates any of the provisions of this section, and any officer of any such corporation or association and any officer or member of any such partnership, who assents to any such violation, shall, upon conviction thereof, be fined not more than $5,000.

District of Columbia § 26-107 (Restriction on use of words “bank” and “trust company”; violations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Mar. 4, 1933, 47 Stat. 1567, ch. 274, § 6; Nov. 23, 1985, D.C. Law 6-63, § 106(c)(2); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168; Apr. 30, 1988, D.C. Law 7-104, § 42, 35 DCR 147