District of Columbia Statutes
§ 31-1405 — Conflict of interest.
(a)No examiner may be appointed by the Mayor if the examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under this chapter. This section shall not be construed to automatically preclude an examiner from being:
(1)A policyholder or claimant under an insurance policy;
(2)A grantor of a mortgage or similar instrument on the examiner’s residence to a regulated entity if done under customary terms and in the ordinary course of business;
(3)An investment owner in shares of regulated diversified investment companies; or
(4)A settlor or beneficiary of a blind trust into which any otherwise impermissible holdings have been placed.
(b)Notwithstanding the requir
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District of Columbia § 31-1405 (Conflict of interest.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Oct. 21, 1993, D.C. Law 10-49, § 6, 40 DCR 6110
Nearby Sections
15
§ 31-1001
Report requirement.§ 31-1004
Confidentiality.§ 31-101
Definitions.§ 31-103
Functions and duties.§ 31-105
Transfers.§ 31-106
Organization.§ 31-106.01
Student Loan Ombudsman.§ 31-106.02a
Prohibited conduct – student loan servicers.§ 31-106.02b
Affirmative duties – student loan servicers.§ 31-106.02c
Prohibited acts – private education lenders.