DC Code § 26-1401.02 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter I - General Provisions|§ 26-1401.02. Definitions

For the purposes of this chapter, the term: (1) “Affiliate” shall have the same meaning as set forth in § 26-551.02(1). (2) “Appropriate federal financial institutions agency” shall have the same meaning as set forth in § 26-551.02(2). (3) “Bank holding company” shall have the same meaning as set forth in section 2(a) of the Bank Holding Company Act of 1956, approved May 9, 1956 (70 Stat. 133; 12 U.S.C. § 1841(a)). (4) “Capital” shall have the same meaning as set forth in § 26-551.02(6). (5) “Capital accounts” means unimpaired capital stock, unimpaired surplus, and undivided profits or retained earnings of a financial institution. (6) “Capital stock” means the aggregate of shares of nonwithdrawable capital stock issued. (7) “Commissioner” shall have the same meaning as set forth in § 26-551.02(7). (8) “Community Reinvestment Act” means the Community Reinvestment Act of 1977, approved October 12, 1977 (91 Stat. 1147; 12 U.S.C. § 2901 et. seq.). (9) “Department” shall have the same meaning as set forth in § 26-551.02(9). (10) “Director” shall have the same meaning as set forth in § 26-551.02(10). (11) “District” means the District of Columbia. (12) “District of Columbia Banking Code” shall have the same meaning as set forth in § 26-551.01(14). (13) “District savings institution” shall have the same meaning as set forth in § 26-551.02(15). (14) “Equity securities” means a security representing an ownership interest in a corporation.or independent agency head (15) “Federal agency” shall have the same meaning as set forth in § 26-551.02(17). (16) “Federal financial institutions agency” means a federal government agency with regulatory authority over a financial institution. (17) “Federally chartered savings institutions” means a financial institution chartered by the Office of Thrift Supervision, or a successor agency to the Office of Thrift Supervision. (18) “Financial institution” shall have the same meaning as set forth in § 26-551.02(18). (19) “Investment securities” means commercial paper, banker’s acceptances, marketable securities in the form of bonds, notes, and debentures, and similar instruments that are regarded as investment securities. (20) “Loan” includes a line of credit or other extension of credit. (21) “Low-income” means an individual income that is less than 60% of the median individual income for the Washington, D.C. metropolitan area according to the statistics of the United States Department of Housing and Urban Development or a median family income that is less than 60% of the median family income for the Washington, D.C. metropolitan area according to the statistics of the United States Department of Housing and Urban Development. (22) “Moderate-income” means an individual income that is at least 60%, and less than 80%, of the median individual income for the Washington, D.C. metropolitan area according to the statistics of the United States Department of Housing and Urban Development, or a median family income that is at least 60%, and less than 80%, of the median family income for the Washington, D.C. metropolitan area according to the statistics of the United States Department of Housing and Urban Development. (23) “National bank” means a financial institution chartered and supervised by the Office of the Comptroller of the Currency, or a successor agency to the Office of the Comptroller of the Currency. (24) “Person” shall have the same meaning as set forth in § 26-551.02(21). (25) “Savings institution” shall have the same meaning as set forth in § 26-551.02(23). (26) “State bank” means a bank chartered and supervised by a financial institutions agency of a state of the United States. (27) “State financial institutions agency” means a government agency of a state of the United States authorized to charter and supervise financial institutions. (28) “Subsidiary” shall have the same meaning as set forth in § 26-551.02(24). (29) “Superior Court” means the Superior Court of the District of Columbia. (30) “Universal bank” means a financial institution which is authorized by its articles of incorporation or other organizational documents to act as a financial institution and is certified under this chapter as a universal bank.  (June 9, 2001, D.C. Law 13-308, § 202, 48 DCR 3244; June 11, 2004, D.C. Law 15-166, § 2(e), 51 DCR 2817.)  Section References This section is referenced in § 26-431.02 and § 26-831.02. Effect of Amendments D.C. Law 15-166 rewrote pars. (7) and (9). Emergency Legislation For temporary (90 day) amendment of section, see § 2(e) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).