District of Columbia § 26-1314 Real property held and conveyed by companies.

District of Columbia Statutes

§ 26-1314 — Real property held and conveyed by companies.

District of Columbia·Title 26 Banks and Other Financial Institutions.·Ch. 13 Trust, Loan, Mortgage, Safe Deposit and Title Corporations.·Subch. I General.

Any company operating under this chapter may lease, purchase, hold, and convey real property in which the offices of the company are located not to exceed in value the capital and surplus of the company, and such in addition as it may acquire in satisfaction of debts due the corporation under sales, decrees, judgments, and mortgages. But no such association shall hold the possession of any real estate under foreclosure of mortgage, or the title and possession of any real estate purchased to secure any debts due to it, for a longer period than 5 years.

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

Any company operating under this chapter may lease, purchase, hold, and convey real property in which the offices of the company are located not to exceed in value the capital and surplus of the company, and such in addition as it may acquire in satisfaction of debts due the corporation under sales, decrees, judgments, and mortgages. But no such association shall hold the possession of any real estate under foreclosure of mortgage, or the title and possession of any real estate purchased to secure any debts due to it, for a longer period than 5 years.

District of Columbia § 26-1314 (Real property held and conveyed by companies.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.