Source: https://development.code.dccouncil.us/dc/council/code/sections/26-1204.html
Timestamp: 2019-04-21 18:36:36+00:00

Document:
D.C. Law Library - § 26–1204. Conditions for regional acquisitions and regional branches.
↪ Chapter 12. Savings and Loan Acquisition.
↪ § 26–1204. Conditions for regional acquisitions and regional branches.
§ 26–1203. Authorization of regional branches.
§ 26–1205. Authorization of nonregional acquisitions.
§ 26–1204. Conditions for regional acquisitions and regional branches.
(4) Market the community development program and publicize the community development program to the applicant’s employees and to individuals and businesses located in areas which the applicant will serve.
(17) Any other information that the Superintendent [Commissioner] considers appropriate.
(d)(1) If an applicant filing an application pursuant to § 26-1202 or § 26-1203 has made in connection with that application any express written commitments to the Superintendent [Commissioner] with respect to subjects set forth in subsections (a), (b), or (c) of this section, the Superintendent [Commissioner] may, at any time, review the activities of the applicant to determine whether the applicant has fulfilled the express written commitments. The Superintendent [Commissioner] may require an applicant to supply information and to submit any report the Superintendent [Commissioner] considers necessary to make a determination under this paragraph.
(2) Upon the determination of the Superintendent [Commissioner] that an applicant filing an application pursuant to § 26-1202 or § 26-1203 has failed to fulfill express written commitments that the applicant made with respect to subjects set forth in subsections (a), (b), or (c) of this section, the Superintendent [Commissioner] may order the applicant to take steps to comply with all the commitments within a reasonable period of time.
(3) If the Superintendent [Commissioner] believes, at any time, that an applicant, subject to an order issued under paragraph (2) of this subsection, has failed to comply with the order within the period specified in the order, the Superintendent [Commissioner] may conduct a hearing in accordance with § 2-509, on the issue of whether the applicant has fulfilled any express written commitments that the applicant made with respect to subjects set forth in subsections (a), (b), or (c) of this section.
(B) Order the revocation of the certificate of authority and a cessation of operations under the certificate within a reasonable period of time if the applicant is branching pursuant to § 26-1203; if the Superintendent [Commissioner] orders the cessation of business being conducted under the certificate, the cessation of business shall be completed within 1 year after the date on which the Superintendent’s [Commissioner’s] order becomes final.
(5) The Superintendent’s [Commissioner’s] decision in a case initiated under paragraph (3) of this subsection shall be subject to judicial review by the District of Columbia Court of Appeals in accordance with § 2-510.
(6) The Superintendent [Commissioner] shall initiate any case under paragraph (3) of this subsection of the issue of whether an association or savings and loan holding company has failed to fulfill express written commitments that the association or savings and loan holding company made with respect to subjects set forth in subsections (a), (b), or (c) of this section within 4 years of the date of the acquisition of the District association or District savings and loan holding company subject to the express written commitments.
(e) The Superintendent [Commissioner] shall rule on any application submitted under §§ 26-1202 and 26-1203 no later than 90 days following the date of submission of a complete application, but the ruling may be conditioned upon approval by federal regulatory authorities or contain other appropriate conditions. The Superintendent [Commissioner] may extend the 90-day period for up to 30 days. If the Superintendent [Commissioner] fails to rule on the application within the 90-day period, or any extension, the application shall be deemed approved.
(f) For purposes of § 26-1202(a)(1) through (3) and § 26-1202(c)(1) and (2), a District association shall be treated as if it were a District savings and loan holding company if the laws of the state where the acquiring association or savings and loan holding company has its principal place of business would permit the regional association or a regional savings and loan holding company to be acquired by a District savings and loan holding company, but not by a District association.
This section is referenced in § 26-206 and § 26-1215.

References: § 26
 § 26

§ 26

§ 26

§ 26
 § 26
 § 26
 § 26
 § 26
 § 2
 § 26
 § 2
 § 26
 § 26
 § 26
 § 26