District of Columbia § 26-831.09 Structure and organization of merchant banks.

District of Columbia Statutes

§ 26-831.09 — Structure and organization of merchant banks.

District of Columbia § 26-831.09

Title 26Banks and Other Financial Institutions.

Ch. 8AMerchant Banks.

Subch. IVStructure and Organization of a Merchant Bank; Capital Requirements.

This text of District of Columbia § 26-831.09 (Structure and organization of merchant banks.) 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 § 26-831.09 (2026).

Text

(a)A merchant bank may be organized as a corporation, limited liability company, limited partnership, or limited liability partnership.

(b)The articles of incorporation or other organizational documents of a merchant bank shall contain the following statement: “This [corporation/limited liability company/limited partnership/limited liability partnership] is subject to the requirements of the District of Columbia Banking Code and does not have the power to solicit, receive or accept money or its equivalent on deposit.” The appropriate business form listed in the bracketed text in the statement shall be included in the statement. The statement shall not otherwise be amended.

(c)A merchant bank may use as a part of its name the word “bank[",] “banker”, “banking”, or any abbreviations of

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

(a) A merchant bank may be organized as a corporation, limited liability company, limited partnership, or limited liability partnership.

(b) The articles of incorporation or other organizational documents of a merchant bank shall contain the following statement: “This [corporation/limited liability company/limited partnership/limited liability partnership] is subject to the requirements of the District of Columbia Banking Code and does not have the power to solicit, receive or accept money or its equivalent on deposit.” The appropriate business form listed in the bracketed text in the statement shall be included in the statement. The statement shall not otherwise be amended.

(c) A merchant bank may use as a part of its name the word “bank[",] “banker”, “banking”, or any abbreviations of those words.