District of Columbia Statutes
§ 31-3520 — Oversight role and fiduciary obligation of directors, officers, and employees.
District of Columbia·Title 31 Insurance and Securities.·Ch. 35 Hospital and Medical Services Corporations Regulation.
(a)The Mayor shall promulgate regulations establishing the oversight role and fiduciary obligation of each member of the board of directors or trustees of a corporation issued a certificate of authority under this chapter. Such regulations shall require the corporation to adopt a code of conduct and compliance program for all board members, officers and employees of the corporation.
(b)A corporation issued a certificate of authority under this chapter shall file with the Mayor annually, on or before June 1, a copy of its bylaws which shall require the corporation’s board of directors or trustees to adopt policies consistent with the provisions of the code of conduct and compliance program regulations promulgated by the Mayor. Any amendments to the bylaws shall be filed with the Mayor by
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District of Columbia § 31-3520 (Oversight role and fiduciary obligation of directors, officers, and employees.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Apr. 9, 1997, D.C. Law 11-245, § 21, 44 DCR 1158
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.