Source: https://code.dccouncil.us/dc/council/code/titles/1/chapters/3/subchapters/IV/parts/D/
Timestamp: 2020-08-10 11:10:28
Document Index: 329012449

Matched Legal Cases: ['§ 2', '§ 301', '§ 1', '§ 9', '§ 26', '§ 301', '§ 7', '§ 10', '§ 301']

D.C. Law Library - Part D. Opportunity Accounts.
(Apr. 3, 2001, D.C. Law 13-266, § 2, 48 DCR 1240; June 8, 2020, D.C. Act 23-328, § 301(a), 67 DCR 7598.)
(8) To purchase a federally qualified individual retirement account if such purchase takes place not earlier than 5 years after the establishment of the opportunity account; and
(9) To pay for any cost, expense, or item authorized by the Commissioner by rule issued pursuant to § 1-307.73, or by order during a declared public health emergency.
(Apr. 3, 2001, D.C. Law 13-266, § 9, 48 DCR 1240; June 19, 2001, D.C. Law 13-313, § 26(c), (d), 48 DCR 1873; June 8, 2020, D.C. Act 23-328, § 301(c), 67 DCR 7598.)
(2) Making a payment necessary to prevent the eviction of the account holder from the primary residence of the account holder or to prevent foreclosure on a mortgage for the primary residence of the account holder;
(3) Making payments necessary to enable the account holder to meet necessary living expenses following loss of employment; and
(4) Making payments necessary to enable the account holder to meet necessary living expenses in the event of a sudden, unexpected loss of income.
(c) Except during a period of time for which the Mayor has declared a public health emergency pursuant to § 7-2304.01, an account holder making an emergency withdrawal shall only withdraw funds deposited by the account holder and shall not withdraw matching funds;
(c-1) If an account holder makes an emergency withdrawal for the purposes set forth at subsection (b)(2) or (3) of this section, the account holder shall withdraw only funds deposited by the account holder and shall not withdraw matching funds.
(c-2) If an account holder makes an emergency withdrawal for the purposes set forth at subsection (b)(1) of this section, the account holder shall withdraw only funds deposited by the account holder and shall not withdraw matching funds, unless the withdrawal is for a medical emergency.
(c-3) If an account holder makes an emergency withdrawal for the purposes set forth at subsection (b)(4) of this section, the account holder may withdraw funds deposited by the account holder and matching funds.
(e) An account holder shall not be required to repay funds withdrawn from the opportunity account for an emergency withdrawal but shall be required to resume making deposits into the opportunity account no later than 90 days after the emergency withdrawal. If the account holder fails to make a deposit no later than 90 days after the emergency withdrawal:
(Apr. 3, 2001, D.C. Law 13-266, § 10, 48 DCR 1240; June 8, 2020, D.C. Act 23-328, § 301(d), 67 DCR 7598.)