District of Columbia § 26-831.20 Authority of conservator to borrow money; purpose.

District of Columbia Statutes

§ 26-831.20 — Authority of conservator to borrow money; purpose.

District of Columbia § 26-831.20

Title 26Banks and Other Financial Institutions.

Ch. 8AMerchant Banks.

Subch. VCommissioner Possession, Receivership, Conservatorship, and Liquidation of Merchant Banks.

This text of District of Columbia § 26-831.20 (Authority of conservator to borrow money; purpose.) 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 § 26-831.20 (2026).

Text

(a)With the prior approval of the Commissioner, the conservator of a merchant bank may borrow money to aid in the operation, reorganization, or liquidation of the bank, including the payment of liquidating dividends.

(b)With the prior approval of the Commissioner, the conservator may secure money borrowed under subsection (a) of this section by the pledge, hypothecation, or mortgage of the assets of the merchant bank.

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(a) With the prior approval of the Commissioner, the conservator of a merchant bank may borrow money to aid in the operation, reorganization, or liquidation of the bank, including the payment of liquidating dividends.

(b) With the prior approval of the Commissioner, the conservator may secure money borrowed under subsection (a) of this section by the pledge, hypothecation, or mortgage of the assets of the merchant bank.