District of Columbia Statutes
§ 42-2403 — Duties of lender.
District of Columbia § 42-2403
This text of District of Columbia § 42-2403 (Duties of lender.) 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 § 42-2403 (2026).
Text
A lender shall, at or before loan closing, cause disbursement of loan funds to a settlement agent. A lender shall not receive or charge any interest on a loan until disbursement of loan funds and loan closing have occurred, and shall not require payment of any interest in advance. For purposes of this section, the term “interest” means any compensation directly or indirectly imposed by a lender for the extension of credit for the use or forbearance of money as defined in § 28-3311 , except that for purposes of this section, the term “interest” shall not include any loan fee, origination fee, service and carrying charge, investigator’s fee, or point under § 28-3301(e) .
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Legislative History
Feb. 24, 1987, D.C. Law 6-187, § 4, 33 DCR 7681
Nearby Sections
15
§ 42-1001
“Power” defined.§ 42-1002
General power.§ 42-1003
Special power.§ 42-1004
Beneficial power.§ 42-1009
Right of grantor to reserve power.§ 42-1011
General powers in trust.§ 42-1012
Special powers in trust.Cite This Page — Counsel Stack
Bluebook (online)
District of Columbia § 42-2403, Counsel Stack Legal Research, https://law.counselstack.com/statute/dc/42-2403.