District of Columbia § 26-506.10 Liens.

District of Columbia Statutes

§ 26-506.10 — Liens.

District of Columbia § 26-506.10

JurisdictionDistrict of Columbia

Title 26Banks and Other Financial Institutions.

Ch. 5Credit Unions.

Subch. ICredit Union Act of 2020.

Part FMember Accounts.

This text of District of Columbia § 26-506.10 (Liens.) 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 § 26-506.10 (2026).

Text

(a)The District credit union shall have a lien on the membership share, shares, deposits, and accumulated dividends and interest of a member in the member's individual, joint, trust, or payable on death account for any obligation owed to the District credit union by the member or for any loan co-signed or guaranteed by the member; except, that a District credit union shall not have a lien on any funds in an Individual Retirement Account or an account established pursuant to the Internal Revenue Code of the United States.

(b)The District credit union shall have a right of immediate set-off with respect to every deposit and share account. The District credit union may refuse to allow withdrawals from any share or deposit account while the member has any outstanding obligation to the Distr

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(a) The District credit union shall have a lien on the membership share, shares, deposits, and accumulated dividends and interest of a member in the member's individual, joint, trust, or payable on death account for any obligation owed to the District credit union by the member or for any loan co-signed or guaranteed by the member; except, that a District credit union shall not have a lien on any funds in an Individual Retirement Account or an account established pursuant to the Internal Revenue Code of the United States.

(b) The District credit union shall have a right of immediate set-off with respect to every deposit and share account. The District credit union may refuse to allow withdrawals from any share or deposit account while the member has any outstanding obligation to the District credit union.