reglab/housing_qa huggingface dataset:
DC Code § 26-912 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 9 - Money Lenders; Licenses|§ 26-912. Exemption of certain loans; severability

(a) No provision of this chapter shall apply with respect to any loan, or to the making of any loan: (1) To any corporation which is unable to plead any statutes against usury in any action; (2) Repealed; (3) Secured on real estate located outside of the District of Columbia; (4) To a borrower residing, doing business, or incorporated outside of the District of Columbia; or (5) Greater than $25,000. (b) If any provision of this section or the application thereof to any person or circumstance, is held invalid, the remainder of the section, and the application of such provision to other persons or circumstances shall not be affected thereby.  (Feb. 4, 1913, ch. 26, § 14; Dec. 17, 1971, 85 Stat. 679, Pub. L. 92-200, § 9(a); Feb. 24, 1987, D.C. Law 6-188, § 2(e), (f), 33 DCR 7687.)  Prior Codifications 1981 Ed., § 26-712. 1973 Ed., § 26-612.
DC Code § 26-1002 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1002. License required

(a) After the effective date of this chapter [July 18, 2000], no person shall engage in the business of money transmission without obtaining a license issued by the Superintendent [Commissioner] under § 26-1009, except as provided in subsection (d) of this section and in § 26-1003. (b) A licensee may conduct its business in the District of Columbia at one or more locations, directly or indirectly owned by the licensee, or through one or more authorized delegates, or both, pursuant to the single license granted to the licensee. (c) Except as provided in § 26-1012, a license issued pursuant to this chapter shall not be transferable or assignable. (d) Any person engaged in selling payment instruments pursuant to a license issued under Chapter 31 [repealed] of Title 47 of the District of Columbia Official Code on the effective date of this chapter [July 18, 2000] may continue to engage in selling payment instruments without a license issued under this chapter until the Superintendent [Commissioner] has acted upon such person’s application for a license; provided, that the application is filed within 90 day of the effective date of this chapter [July 18, 2000].  (July 18, 2000, D.C. Law 13-140, § 3, 47 DCR 3431.)
DC Code § 26-1003 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1003. Exemptions

(a) This chapter shall not apply to: (1) The United States or any department, agency, or instrumentality thereof; (2) The United States Post Office; (3) The District of Columbia government; (4) Banks, bank holding companies, credit unions, building and loan associations, savings and loan associations, savings banks, or mutual banks organized under the laws of any state, the District of Columbia or the United States; provided, that they do not issue or sell payment instruments through authorized delegates who are not banks, bank holding companies, credit unions, building and loan associations, savings and loan associations, savings banks, or mutual banks; or (5) The provision of electronic transfer of government benefits for any federal or District of Columbia governmental agency as defined in Federal Reserve Board Regulation E or by a contractor for and on behalf of the United States, or any department, agency or instrumentality thereof, or the District of Columbia government. (b) Authorized delegates of a licensee, acting within the scope of authority conferred by a written contract as described in § 26-1016 shall not be required to obtain a license pursuant to this chapter.  (July 18, 2000, D.C. Law 13-140, § 4, 47 DCR 3431.)  Section References This section is referenced in § 26-1002.
DC Code § 26-1004 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1004. License qualifications

(a) Each licensee under this chapter shall at all times have a net worth of not less than $100,000, calculated in accordance with generally accepted accounting principles. Licensees engaging in money transmission at more than one location or through authorized delegates shall have an additional net worth of $50,000 per location or authorized delegate located in the District of Columbia, as applicable. The maximum net worth required for all locations shall not exceed $500,000. (b) Every corporate applicant, at the time of filing of an application for a license under this chapter and at all times after a license is issued, shall be in good standing in the state of its incorporation. All non-corporate applicants shall, at the time of the filing of an application for a license under this chapter and at all times after a license is issued, be registered or qualified to do business in the District of Columbia.  (July 18, 2000, D.C. Law 13-140, § 5, 47 DCR 3431.)
DC Code § 26-1005 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1005. Permissible investments and statutory trust

(a) Each licensee under this chapter shall at all times possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding payment instruments issued or sold by the licensee in the United States. This requirement may be waived by the Superintendent [Commissioner] if the dollar volume of a licensee’s outstanding payment instruments does not exceed the bond or other security devices posted by the licensee pursuant to § 26-1007. (b) Permissible investments, even if commingled with other assets of the licensee, shall be deemed by operation of law to be held in trust for the benefit of the purchasers and holders of the licensee’s outstanding payment instruments in the event of the bankruptcy of the licensee.  (July 18, 2000, D.C. Law 13-140, § 6, 47 DCR 3431.)
DC Code § 26-1008 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1008. Application fee

Each application must be accompanied by a non-refundable application fee in the amount of $500, plus $25 for each location in the District of Columbia. The maximum amount of application fees required for all locations shall not exceed $2,500. The application fee shall also constitute the license fee for the applicant’s first year of activities if the license is granted.  (July 18, 2000, D.C. Law 13-140, § 9, 47 DCR 3431.)
DC Code § 26-1009 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1009. Issuance of license

(a) Upon the filing of a complete application, the Superintendent [Commissioner] shall investigate the financial condition and responsibility, financial and business experience, character, and general fitness of the applicant. The Superintendent [Commissioner] may conduct an on-site investigation of the applicant, the reasonable cost of which shall be borne by the applicant. If the Superintendent [Commissioner] finds that: (1) The applicant’s business will be conducted honestly, fairly, and in a manner commanding the confidence and trust of the community; (2) The applicant has fulfilled the requirements imposed by this chapter; and (3) The applicant has paid the required license fee, the Superintendent [Commissioner] shall issue a license to the applicant authorizing the applicant to engage in the licensed activities in the District of Columbia for a term of one year. If these requirements have not been met, the Superintendent [Commissioner] shall deny the application in writing and set forth the reasons for the denial. (b) The Superintendent [Commissioner] shall approve or deny every application for an original license within 120 days from the date a complete application is submitted, which period may be extended by the written consent of the applicant. The Superintendent [Commissioner] shall notify the applicant of the date when the application is deemed complete. In the absence of approval or denial of the application, or consent to the extension of the 120 day period, the application is deemed approved and the Superintendent [Commissioner] shall issue the license effective as of the first day after the 120 day or extended period has elapsed. (c) Any applicant aggrieved by a denial issued by the Superintendent [Commissioner] under this section may at any time within 30 days after the date of receipt of written notice of the denial contest the denial by serving a response on the Superintendent [Commissioner]. The Superintendent [Commissioner] shall set a date for a hearing not later than 60 days after service of the response, unless a later date is set with the consent of the denied applicant.  (July 18, 2000, D.C. Law 13-140, § 10, 47 DCR 3431.)  Section References This section is referenced in § 26-1002.
DC Code § 26-1010 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1010. Renewal of license and annual report

(a) The annual fee for renewal of a license shall be $500, plus $25 for each location in the District of Columbia, but not to exceed a maximum aggregate amount of $2,500. The renewal term of a license shall be one calendar year. (b) The renewal fee shall be accompanied by a report, in a form prescribed by rule by the Superintendent [Commissioner], which form shall be sent by the Superintendent [Commissioner] to each licensee no later than 3 months immediately preceding December 31 of each year. The licensee must include in its annual renewal report: (1) A copy of its most recent audited consolidated annual financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder’s equity and statement of changes in financial position, or, in the case of a licensee that is a wholly owned subsidiary of another corporation, the consolidated audited annual financial statement of the parent corporation may be filed in lieu of the licensee’s audited annual financial statement; (2) The number of payment instruments sold by the licensee in the District of Columbia, the dollar amount of those instruments, and the dollar amount of those instruments currently outstanding for the most recent quarter for which data is available prior to the date of the filing of the renewal application, but in no event more than 120 days prior to the renewal date; (3) Any material changes to any of the information submitted by the licensee on its original application which have not previously been reported to the Superintendent [Commissioner] on any other report required to be filed under this chapter; (4) A list of the licensee’s permissible investments; and (5) A list of the locations within the District of Columbia at which business regulated by this chapter is being conducted by either the licensee or its authorized delegate.  (July 18, 2000, D.C. Law 13-140, § 11, 47 DCR 3431.)  Section References This section is referenced in § 26-1013.
DC Code § 26-1011 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1011. Special reporting requirements

Within 15 days of the occurrence of any of the events listed below, a licensee shall file a written report with the Superintendent [Commissioner] describing the event and its expected impact on the licensee’s activities in the District: (1) The filing for bankruptcy or reorganization by the licensee; (2) The institution of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensees’ money transmission activities; (3) Any felony indictment of the licensee or any of its key officers or directors related to money transmission activities; or (4) Any felony conviction of the licensee or any of its key officers or directors related to money transmission activities.  (July 18, 2000, D.C. Law 13-140, § 12, 47 DCR 3431.)
DC Code § 26-1013 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1013. Examinations

(a) The Superintendent [Commissioner] may in his discretion conduct an on-site examination of a licensee upon 45 days written notice to the licensee. The licensee shall pay all reasonably incurred costs of the examination. The on-site examination may be conducted in conjunction with examinations to be performed by representatives of agencies of another state. The Superintendent [Commissioner], in lieu of an on-site examination, may accept the examination report of an agency of another state; or a report prepared by an independent accounting firm; and reports so accepted shall be considered for all purposes as an official report of the Superintendent [Commissioner]. (b) The Superintendent [Commissioner] may (1) request financial data from a licensee in addition to that required under § 26-1010 or (2) conduct an on-site examination of a licensee, authorized delegate or location of a licensee within the District of Columbia without prior notice to the authorized delegate or licensee if the Superintendent [Commissioner] has a reasonable basis to believe that the licensee or authorized delegate is not in compliance with this chapter. When the Superintendent [Commissioner] examines an authorized delegate’s operations, the authorized delegate shall pay all reasonably incurred costs of the examination. When the Superintendent [Commissioner] examines a licensee’s location within the District of Columbia, the licensee shall pay all reasonably incurred costs of the examination.  (July 18, 2000, D.C. Law 13-140, § 14, 47 DCR 3431.)
DC Code § 26-1014 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1014. Maintenance of records

(a) Each licensee, shall make, keep and preserve the following books, accounts and other records for a period of 3 years: (1) A record of each payment instrument sold; (2) A general ledger containing all assets, liability, capital, income and expense accounts, which general ledger shall be posted at least monthly; (3) Settlement sheets received from authorized delegates; (4) Bank statements and bank reconciliation records; (5) Records of outstanding payment instruments; (6) Records of each payment instrument paid within the 3 year period; (7) A list of the names and addresses of all of the licensee’s authorized delegates; and (8) Records it is required to maintain pursuant to 31 C.F.R. Part 103. (b) Maintenance of such documents as are required by this section in a photographic, electronic, or other similar form shall constitute compliance with this section. (c) Records may be maintained at a location other than within the District of Columbia so long as they are made accessible to the Superintendent [Commissioner] within 7 days of written notice by the Superintendent [Commissioner].  (July 18, 2000, D.C. Law 13-140, § 15, 47 DCR 3431.)
DC Code § 26-1015 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1015. Suspension or revocation of licenses

After notice and hearing, the Superintendent [Commissioner] may suspend or revoke a licensee’s license if the Superintendent [Commissioner] finds that: (1) Any fact or condition exists that, if it had existed at the time when the licensee applied for its license, would have been grounds for denying the application; (2) The licensee’s net worth becomes inadequate and the licensee, after 10 days written notice from the Superintendent [Commissioner], fails to take such steps as the Superintendent [Commissioner] deems necessary to remedy such deficiency; (3) The licensee knowingly violates any material provision of this chapter or any rule or order validly promulgated by the Superintendent [Commissioner] under authority of this chapter; (4) The licensee is conducting its business in an unsafe or unsound manner; (5) The licensee is insolvent; (6) The licensee has suspended payment of its obligations, has made an assignment for the benefit of its creditors, or has admitted in writing its inability to pay its debts as they become due; (7) The licensee has applied for an adjudication of bankruptcy, reorganization, arrangement, or other relief under any bankruptcy; (8) The licensee refuses to permit the Superintendent [Commissioner] to make any examination authorized by this chapter; (9) The licensee willfully fails to make any report required by this chapter; or (10) The licensee has willfully violated any provision of the regulations set forth at 31 C.F.R. Part 103.  (July 18, 2000, D.C. Law 13-140, § 16, 47 DCR 3431.)
DC Code § 26-1016 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1016. Authorized delegate contracts

A Licensee which purposes to conduct licensed activities through an authorized delegate shall authorize each delegate to operate pursuant to an express written contract appointing the person as its delegate with authority to engage in money transmission on behalf of the licensee.  (July 18, 2000, D.C. Law 13-140, § 17, 47 DCR 3431.)  Section References This section is referenced in § 26-1001 and § 26-1003.
DC Code § 26-1017 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1017. Authorized delegate conduct

(a) An authorizing delegate shall not make any fraudulent or false statement or misrepresentation to a licensee or to the Superintendent [Commissioner]. (b) All money transmission or sale or issuance of payment instrument activities conducted by authorized delegates shall be strictly in accordance with the licensee’s written procedures provided to the authorized delegate. (c) An authorized delegate shall remit all money owing to the licensee in accordance with the terms of the contract between the licensee and the authorized delegate. An authorized delegate who fails to remit all money owing to a licensee within the time required shall be liable to the licensee for treble damages. The Superintendent [Commissioner] shall have the discretion to set, by regulation, the maximum remittance time. (d) An authorized delegate is deemed to consent to inspection by the Superintendent [Commissioner], with or without prior notice to the licensee or authorized delegate, of the books and records of the authorized delegate when the Superintendent [Commissioner] has a reasonable basis to believe that the licensee or authorized delegate is not in compliance with this chapter. (e) An authorized delegate is under a duty to act only as authorized under the contract with the licensee. An authorized delegate who exceeds its authority is subject to cancellation of its contract and further disciplinary action by the Superintendent [Commissioner]. (f) All funds, less fees, received by an authorized delegate of a licensee from the sale or delivery of a payment instrument issued by a licensee or received by an authorized delegate for transmission shall, from the time such funds are received by such authorized delegate until such time when the funds or an equivalent amount are remitted by the authorized delegate to the licensee, constitute trust funds owned by and belonging to the licensee. If an authorized delegate commingles any such funds with any other funds or property owned or controlled by the authorized delegate, all commingled proceeds and other property shall be impressed with a trust in favor of the licensee in an amount equal to the amount of the proceeds due the licensee. (g) An authorized delegate shall report to the licensee the theft or loss of payment instruments within 24 hours from the time it knew or should have known of the theft or loss.  (July 18, 2000, D.C. Law 13-140, § 18, 47 DCR 3431.)
DC Code § 26-1018 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1018. Revocation or suspension of authorized delegates

(a) If, after notice and a hearing, the Superintendent [Commissioner] finds that an authorized delegate of a licensee or any director, officer, employee, or controlling person of the authorized delegate (1) has violated any provision of this chapter or of any rule or regulation or order issued under this chapter, (2) has engaged or participated in any unsafe or unsound act with respect to the business of selling or issuing payment instruments of the licensee or the business of money transmission, (3) has willfully violated any provision of the regulations set forth in 31 C.F.R. Part 103, or (4) has made, or caused to be made in any application or report filed with the Superintendent [Commissioner] or in any proceeding before the Superintendent [Commissioner], any statement which was at the time and in the circumstances under which it was made, false or misleading with respect to any material fact, or has omitted to state in any such application or report any material fact which is required to be stated therein, the Superintendent [Commissioner] may issue an order suspending or barring the authorized delegate from continuing to be, or becoming, an authorized delegate of any licensee during the period for which the order is in effect. Upon issuance of the order, the licensee shall terminate its relationship with the authorized delegate according to the terms of the order. (b) An authorized delegate to whom an order is issued under this section may apply to the Superintendent [Commissioner] to modify or rescind such order. The Superintendent [Commissioner] shall not grant such application unless the Superintendent [Commissioner] finds that it is in the public interest to do so and that it is reasonable to believe that such person will, if such person is permitted to resume being an authorized delegate of a licensee, comply with all applicable provisions of this chapter and of any regulation or order issued under this chapter.  (July 18, 2000, D.C. Law 13-140, § 19, 47 DCR 3431.)
DC Code § 26-1019 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1019. Licensee liability

The liability of a licensee to any person for a money transmission conducted by the licensee, or an authorized delegate of the licensee, on behalf of the person shall be limited to the amount of money transmitted or the face amount of the payment instrument purchased.  (July 18, 2000, D.C. Law 13-140, § 20, 47 DCR 3431.)
DC Code § 26-1020 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1020. Hearings and procedures

The provisions of subchapter I of Chapter 5 of Title 2 shall apply to any hearing afforded pursuant to this chapter.  (July 18, 2000, D.C. Law 13-140, § 21, 47 DCR 3431.)
DC Code § 26-1021 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 10 - Money Transmissions|§ 26-1021. Civil penalties

(a) Any person who violates any provision of this chapter, any rule or regulation or order issued or promulgated pursuant to this chapter, or any order of the Superintendent [Commissioner] directed to that person, shall be liable for a penalty of not more than $1,000 for each violation. (b) The Corporation Counsel for the District of Columbia may bring proceedings to recover all amounts due to the District under this section. (c) The Superintendent [Commissioner], in the exercise of his reasonable judgment, is authorized to compromise, settle, and collect civil penalties with or from any person for violations of any provision of this chapter, or of any rule, regulation or order issued or promulgated pursuant to this chapter.  (July 18, 2000, D.C. Law 13-140, § 22, 47 DCR 3431.)