Source: https://code.dccouncil.us/dc/council/code/sections/26-1401.09.html
Timestamp: 2019-04-25 14:18:07+00:00

Document:
D.C. Law Library - § 26–1401.09. Specific powers of universal banks.
↪ § 26–1401.09. Specific powers of universal banks.
(19) Distribute shares in investment companies, with the prior written approval of the Commissioner, subject to § 26-1401.15; provided, that the distribution shall only be conducted through a subsidiary of the universal bank.
(b) With the approval of the Commissioner, a universal bank may securitize its assets for sale to the public. The Commissioner may establish procedures governing the exercise of authority granted under this subsection.
This section is referenced in § 26-1401.12, § 26-1401.13, and § 26-1401.15.
D.C. Law 15-166, in the introductory language of subsec. (a), deleted “of the Department of Insurance and Securities Regulation” following “Commissioner”.
D.C. Law 15-354, in subsec. (a)(18), validated a previously made technical correction.
For temporary (90 day) amendment of section, see § 2(f) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).

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