District of Columbia § 26-1401.29 Acquisitions, mergers and asset purchases.

District of Columbia Statutes

§ 26-1401.29 — Acquisitions, mergers and asset purchases.

District of Columbia § 26-1401.29

Title 26Banks and Other Financial Institutions.

Ch. 14Universal Bank Certification.

Subch. VIMiscellaneous Provisions.

This text of District of Columbia § 26-1401.29 (Acquisitions, mergers and asset purchases.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 26-1401.29 (2026).

Text

(a)A universal bank may purchase the assets of, merge with, acquire, or be acquired by, a financial institution, or the holding company of a financial institution, only after a written application to the Commissioner and the written approval of the application by the Commissioner.

(b)An application for approval of the Commissioner under subsection (a) of this section shall be submitted on a form, and accompanied by a fee, prescribed by the Commissioner. In reviewing and approving or disapproving an application under this section, the Commissioner shall apply the standards required by the District of Columbia Banking Code, including the applicant’s general plan of business, proposed plan of capital investment in the District, and community development program.

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(a) A universal bank may purchase the assets of, merge with, acquire, or be acquired by, a financial institution, or the holding company of a financial institution, only after a written application to the Commissioner and the written approval of the application by the Commissioner.

(b) An application for approval of the Commissioner under subsection (a) of this section shall be submitted on a form, and accompanied by a fee, prescribed by the Commissioner. In reviewing and approving or disapproving an application under this section, the Commissioner shall apply the standards required by the District of Columbia Banking Code, including the applicant’s general plan of business, proposed plan of capital investment in the District, and community development program.