District of Columbia § 26-507.03 Other loan-related charges.

District of Columbia Statutes

§ 26-507.03 — Other loan-related charges.

District of Columbia § 26-507.03

JurisdictionDistrict of Columbia

Title 26Banks and Other Financial Institutions.

Ch. 5Credit Unions.

Subch. ICredit Union Act of 2020.

Part GLoans.

This text of District of Columbia § 26-507.03 (Other loan-related charges.) 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 § 26-507.03 (2026).

Text

(a)Notwithstanding the provisions of any other law in connection with extensions of credit, a District credit union may elect to contract for and receive fees and other charges for extensions of credit in connection with making, closing, disbursing, extending, collecting, renewing, or enforcing a debt in the event of a member's delinquency or breach of any obligation under the District credit union's loan contract, subject only to the provisions of this subchapter and rules promulgated pursuant to this subchapter .

(b)A contingency or hourly arrangement established under an agreement and entered into by a District credit union with an attorney or collection agency to collect a loan of a member who is in default shall be prima facie presumed reasonable.

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(a) Notwithstanding the provisions of any other law in connection with extensions of credit, a District credit union may elect to contract for and receive fees and other charges for extensions of credit in connection with making, closing, disbursing, extending, collecting, renewing, or enforcing a debt in the event of a member's delinquency or breach of any obligation under the District credit union's loan contract, subject only to the provisions of this subchapter and rules promulgated pursuant to this subchapter .

(b) A contingency or hourly arrangement established under an agreement and entered into by a District credit union with an attorney or collection agency to collect a loan of a member who is in default shall be prima facie presumed reasonable.