reglab/housing_qa huggingface dataset:
DC Code § 26-1333 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1333. Security required for performance of fiduciary duties; liability thereon

No bond or other collateral security, except as hereinafter stated, shall be required from any trust company incorporated under this chapter for and in respect to any trust, nor when appointed trustee, guardian, receiver, personal representative, special administrator, committee of the estate of a person with a mental illness or an intellectual disability, or other fiduciary appointment; but the capital stock subscribed for or taken, and all property owned by said company and the amount for which said stockholders shall be liable in excess of their stock, shall be taken and considered as the security required by law for the faithful performance of its duties, and shall be absolutely liable in case of any default whatever; and in case of the insolvency or dissolution of said company, the debts due from the said company as trustee, guardian, receiver, personal representative, special administrator, or committee of the estate of a person with mental illness or an intellectual disability or any other fiduciary appointment shall have a preference.  (Mar. 3, 1901, 31 Stat. 1309, ch. 854, § 745; June 24, 1980, D.C. Law 3-72,§ 207(g), 27 DCR 2155; Apr. 24, 2007, D.C. Law 16-305, § 39(b), 53 DCR 6198; Sept. 26, 2012, D.C. Law 19-169, § 23(c), 59 DCR 5567.)  Prior Codifications 1981 Ed., § 26-433. 1973 Ed., § 26-333. Effect of Amendments D.C. Law 16-305 substituted “person with mental illness or mental retardation” for “lunatic or idiot” and “lunatics, idiots”. The 2012 amendment by D.C. Law 19-169 substituted “an intellectual disability” for “mental retardation” twice. Editor's Notes Section 35 of D.C. Law 19-169 provided that no provision of the act shall impair any right or obligation existing under law.
DC Code § 26-1334 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1334. Powers of probate court

The court having probate jurisdiction, or any judge thereof, shall have power to make orders respecting such company whenever it shall have been appointed trustee, guardian, receiver, personal representative, special administrator, committee of the estate of a person with mental illness or an intellectual disability or any other fiduciary, and require the said company to render all accounts which might lawfully be made or required by any court or any judge thereof if such trustee, guardian, receiver, personal representative, special administrator, committee of the estate of a person with mental illness or an intellectual disability or fiduciary were a natural person. And said court, or any judge thereof, at any time, on application of any person interested, may appoint some suitable person to examine into the affairs and standing of such companies, who shall make a full report thereof to the court, and said court, or any judge thereof, may at any time, in its discretion, require of said company a bond with sureties or other security for the faithful performance of its obligations, and such sureties or other security shall be liable to the same extent and in the same manner as if given or pledged by a natural person.  (Mar. 3, 1901, 31 Stat. 1309, ch. 854, § 746; June 25, 1936, 49 Stat. 1921, ch. 804; June 25, 1948, 62 Stat. 991, ch. 646, § 32(a), (b); May 24, 1949, 63 Stat. 107, ch. 139, § 127; July 29, 1970, 84 Stat. 576, Pub. L. 91-358, title I, § 158(c)(4); June 24, 1980, D.C. Law 3-72, § 207(h), 27 DCR 2155; Apr. 24, 2007, D.C. Law 16-305, § 39(c), 53 DCR 6198; Sept. 26, 2012, D.C. Law 19-169, § 23(d), 59 DCR 5567.)  Prior Codifications 1981 Ed., § 26-434. 1973 Ed., § 26-334. Effect of Amendments D.C. Law 16-305 substituted “person with mental illness or mental retardation” for “lunatic, idiot,” and “lunatic or idiot,”. The 2012 amendment by D.C. Law 19-169 substituted “an intellectual disability” for “mental retardation” both times it appears. Editor's Notes Section 35 of D.C. Law 19-169 provided that no provision of the act shall impair any right or obligation existing under law.
DC Code § 26-1335 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1335. Compliance required of foreign corporations or companies

No corporation or company organized by virtue of the laws of any of the states of this Union shall carry on in the District of Columbia any of the kinds of business named in this chapter without strict compliance in all particulars with the provisions of this chapter for the government of such corporations formed under it, and each one of the officers of the corporation or company so offending shall be punished by a fine not exceeding $1,000 or imprisonment not exceeding 1 year, or by both fine and imprisonment, in the discretion of the court.  (Mar. 3, 1901, 31 Stat. 1309, ch. 854, § 747; Mar. 4, 1933, 47 Stat. 1567, ch. 274, § 5.)  Prior Codifications 1981 Ed., § 26-435. 1973 Ed., § 26-335.
DC Code § 26-1336 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1336. Right of Congress to amend or repeal chapter; remedies preserved

Congress may at any time alter, amend, or repeal this chapter, but any such amendment or repeal shall not, nor shall the dissolution of any company formed under this chapter, take away or impair any remedy given against such corporation, its stockholders, or officers for any liability or penalty which shall have been previously incurred.  (Mar. 3, 1901, 31 Stat. 1309, ch. 854, § 748.)  Prior Codifications 1981 Ed., § 26-436. 1973 Ed., § 26-336.
DC Code § 26-1351 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter II - Existing Trust Companies; Perpetual Succession of Trust Companies|§ 26-1351. Existing title insurance companies may become perpetual

Any company formed prior to January 1, 1902, agreeably to law, for the purpose of insuring titles to real estate may become perpetual by filing, in the Office of the Recorder of Deeds, a certificate to that effect, in like manner as is provided by law for the filing of the original certificate of incorporation.  (Mar. 3, 1901, 31 Stat. 1289, ch. 854, § 641.)  Prior Codifications 1981 Ed., § 26-402. 1973 Ed., § 26-302.
DC Code § 26-1352 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter II - Existing Trust Companies; Perpetual Succession of Trust Companies|§ 26-1352. Trust companies to have perpetual succession

Any company transacting the business of a trust company and heretofore or hereafter organized or operating under the provisions of this chapter, but before April 11, 1986, shall have perpetual succession from the date of its organization, or until such time as it be dissolved, or until its franchise shall become forfeited by reason of violation of law, or until terminated by either a general or special act of Congress, or until its affairs be placed in the hands of a receiver and finally wound up by him.  (Mar. 3, 1901, 31 Stat. 1289, ch. 854, § 641; June 24, 1936, 49 Stat. 1898, ch. 743; Nov. 23, 1985, D.C. Law 6-63, § 106(a)(1); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168.)  Prior Codifications 1981 Ed., § 26-403. 1973 Ed., § 26-303.
DC Code § 26-1401.01 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter I - General Provisions|§ 26-1401.01. Short title

This chapter may be cited as the “Universal Bank Certification Act of 2000”.  (June 9, 2001, D.C. Law 13-308, § 201, 48 DCR 3244.)
DC Code § 26-1401.04 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter II - Application and Certification as a Universal Bank|§ 26-1401.04. Issuance of certificate of authority

If the Commissioner approves the application of a financial institution to become certified as a universal bank, the Commissioner shall issue to the financial institution a certificate of authority stating that the financial institution is certified as a universal bank under this chapter.  (June 9, 2001, D.C. Law 13-308, § 204, 48 DCR 3244.)
DC Code § 26-1401.05 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter II - Application and Certification as a Universal Bank|§ 26-1401.05. Revocation or subsequent limitation of certificate of authority

If a universal bank fails to maintain the standards and requirements of § 26-1401.03(c), the Commissioner shall, by order, revoke or limit the exercise of the powers of the universal bank.  (June 9, 2001, D.C. Law 13-308, § 205, 48 DCR 3244.)
DC Code § 26-1401.06 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter II - Application and Certification as a Universal Bank|§ 26-1401.06. Voluntary termination of certification

A financial institution that is certified as a universal bank under this chapter may elect to terminate its certification by giving 60 days prior written notice of the termination to the Commissioner. A termination under this section shall be effective only with the written approval of the Commissioner. A financial institution shall, as a condition to a termination under this section, terminate its exercise of all powers granted under this chapter before the termination of the certification. The Commissioner’s written approval of a financial institution’s termination under this section shall be void if the financial institution fails to satisfy the condition to termination under this section.  (June 9, 2001, D.C. Law 13-308, § 206, 48 DCR 3244.)
DC Code § 26-1401.07 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter III - Powers and Authority of Universal Banks|§ 26-1401.07. Preexisting powers of universal banks

A universal bank may exercise any power that it was authorized to exercise under the District of Columbia Banking Code before its certification as a universal bank.  (June 9, 2001, D.C. Law 13-308, § 207, 48 DCR 3244.)
DC Code § 26-1401.08 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter III - Powers and Authority of Universal Banks|§ 26-1401.08. Parity of powers of universal bank

(a) The Commissioner may authorize a universal bank to exercise a power that may be exercised by any other state bank, state or federally chartered savings bank, state or federally chartered savings and loan association, or federally charted national bank. (b)(1) A universal bank shall file with the Commissioner a written request to exercise a power under subsection (a) of this section. Within 60 days after receiving a request under this subsection, the Commissioner shall approve the request if the Commissioner determines that: (A) The power requested by the universal bank may be exercised by a state bank, state or federally chartered savings bank, a state or federally chartered savings and loan association, or a federally charted national bank; and (B) The universal bank will exercise the power requested in a safe and sound manner. (2) The Department and the universal bank may agree to extend the 60-day period under paragraph (1) of this subsection for an additional 60 days. (c) A universal bank shall exercise a power authorized under this section only through a subsidiary of the universal bank, with the appropriate safeguards to limit the risk exposure of the universal bank and to protect the banking customers of the universal bank.  (June 9, 2001, D.C. Law 13-308, § 208, 48 DCR 3244.)
DC Code § 26-1401.10 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter III - Powers and Authority of Universal Banks|§ 26-1401.10. Necessary or convenient powers

Unless otherwise prohibited by law or regulation, a universal bank may exercise all powers necessary or convenient to effect the purposes for which the universal bank is organized or to further a business, activity, or operation in which the universal bank is lawfully engaged. The Commissioner may, by rule or order, establish that certain powers shall not be considered necessary or convenient to effect the purposes for which a universal bank is organized or to further a business, activity, or operation in which a universal bank is lawfully engaged.  (June 9, 2001, D.C. Law 13-308, § 210, 48 DCR 3244.)
DC Code § 26-1401.14 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter IV - Limitations, and Exceptions to Limitations, on Powers of Universal Banks|§ 26-1401.14. Exceptions to limitations on investment powers of universal banks

The percentage limitations in § 26-1401.13 shall not apply to, and a universal bank may invest without limitation in, any of the following: (1) Stocks or obligations of a corporation organized for business development by the District, the United States, or a District or federal agency; (2) Obligations of an urban renewal investment corporation organized under the laws of the District or of the United States; (3) An equity interest in an insurance company or an insurance holding company organized to provide insurance for universal banks and for persons affiliated with universal banks to the extent that ownership of the equity interest is a prerequisite to obtaining directors’ and officers’ insurance or blanket bond insurance for the universal bank through the insurance company; (4) Shares of stock, whether purchased or otherwise acquired, in a corporation acquiring, placing, and operating remote service units or bank communications terminals; (5) Equity, debt securities, or debt instruments of a service corporation subsidiary of the universal bank; (6) Advances of federal funds; (7) Financial futures transactions, financial options transactions, forward commitments, or other financial products for the purpose of reducing, hedging, or otherwise managing the universal bank’s interest rate risk exposure; provided, that the prior written approval of the Commissioner shall be required to make the investments described in this paragraph; (8) A subsidiary of the universal bank organized to exercise corporate fiduciary powers under this chapter; (9) An agricultural credit corporation; provided, that the universal bank shall not own more than 80% of the stock of an agricultural credit corporation and shall not invest more than 20% of the universal bank’s capital in agricultural credit corporations; (10) Deposit accounts or insured obligations of a financial institution, the accounts of which are insured by a deposit insurance corporation; (11) Obligations of, or obligations that are fully guaranteed by, the United States; (12) Stocks or obligations of any Federal Reserve Bank, Federal Home Loan Bank, the Student Loan Marketing Association, the Government National Mortgage Association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or the Federal Deposit Insurance Corporation; or (13) Any other investment authorized by the Commissioner.  (June 9, 2001, D.C. Law 13-308, § 214, 48 DCR 3244.)  Section References This section is referenced in § 26-1401.13.
DC Code § 26-1401.16 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Universal Banks|§ 26-1401.16. Liquidation of universal banks in general

A universal bank shall not be liquidated except as provided by this chapter or in accordance with the order of a court of competent jurisdiction.  (June 9, 2001, D.C. Law 13-308, § 216, 48 DCR 3244.)
DC Code § 26-1401.18 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Universal Banks|§ 26-1401.18. Resumption of business by a universal bank

A universal bank of which the Commissioner takes possession or which is operating under restrictions imposed by the Commissioner may be permitted by the Commissioner to resume business in accordance with the provisions of this chapter and subject to such conditions as may be imposed by the Commissioner.  (June 9, 2001, D.C. Law 13-308, § 218, 48 DCR 3244.)  Section References This section is referenced in § 26-1401.17.
DC Code § 26-1401.20 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Universal Banks|§ 26-1401.20. Receiver duties and powers

(a) Subject to Superior Court approval, a receiver shall: (1) Take possession of the books, records, and assets of the universal bank and collect all debts, dues, and claims belonging to the universal bank; (2) Sue, defend, compromise, arbitrate, or otherwise settle all claims involving the universal bank; (3) Sell all real and personal property; (4) Exercise all fiduciary functions of the universal bank; (5) Pay all administrative expenses of the receivership, which expenses shall be a first charge upon the assets of the universal bank and shall be fully paid before a final distribution or payment of dividends to creditors or shareholders; (6) Pay, ratably, all debts of the universal bank; provided, that debts not exceeding $500 may be paid in full, but the holders of such debt shall not be entitled to interest on the debt; (7) Repay, ratably, any amount paid in by a shareholder by reason of an assessment made upon the stock of the universal bank by the Department in accordance with this chapter; (8) Pay, ratably, to the shareholders of the universal bank, in proportion to the number of shares held and owned by each, the balance of the net assets of the universal bank after payment or provision for payments as provided in this section; (9) Have all the powers of the directors, officers, and shareholders of the universal bank as necessary to support an action taken on behalf of the universal bank; and (10) Hold title to all the bank’s property, contracts, and rights of action. (b) Subject to Superior Court approval, a receiver may: (1) Borrow money as necessary or expedient in aiding the liquidation of the universal bank and secure the borrowed money by the pledge, hypothecation, or mortgage of the assets of the bank; (2) Employ agents, legal counsel, accountants, appraisers, consultants, and other personnel, including, with the prior written approval of the Commissioner, personnel of the Department, that the receiver considers necessary or expedient to assist in the performance of the receiver’s duties; provided, that the expense of employing Department personnel shall be an administrative expense of the liquidation that shall be payable to the Department; or (3) Exercise any other power and duty authorized by the Superior Court.  (June 9, 2001, D.C. Law 13-308, § 220, 48 DCR 3244; Oct. 19, 2002, D.C. Law 14-213, § 18(g), 49 DCR 8140.)  Section References This section is referenced in § 26-1401.27. Effect of Amendments D.C. Law 14-213, in subsec. (a)(7), validated a previously made technical correction.
DC Code § 26-1401.22 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Universal Banks|§ 26-1401.22. Maintenance and disposal of records by receiver

(a) With the approval of the Superior Court, a receiver may dispose of records of the universal bank in receivership that are obsolete and unnecessary to the continued administration of the receivership. (b) The receiver may retain the records of the universal bank and the receivership for a period of time that the receiver considers appropriate or for a period of time as ordered by the Superior Court. (c) The receiver may devise a method for the effective, efficient, and economical maintenance of the records of the universal bank and of the receiver’s office, including maintaining the records on any medium approved by the Superior Court. (d) The receiver may use assets of a universal bank to: (1) Procure services to maintain the records of a liquidated universal bank; or (2) Pay fees, as established by the Commissioner, to the Commissioner necessary for the Commissioner to procure services to maintain the records of a liquidated universal bank.  (June 9, 2001, D.C. Law 13-308, § 222, 48 DCR 3244.)
DC Code § 26-1401.23 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 14 - Universal Bank Certification|Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Universal Banks|§ 26-1401.23. Conservator; appointment; bond and security; qualifications; expenses

(a) If any of the grounds under § 26-1401.19 authorizing a request for the appointment of a receiver exist or if the Commissioner determines that it is necessary to conserve the assets of a universal bank for the benefit of the depositors, investors, or other creditors of the bank or for the benefit of the general public, the Commissioner may petition the Superior Court to appoint a conservator for a universal bank. (b) The Department shall be reimbursed out of the assets of the conservatorship, as expenses, for all sums expended by the Department in connection with the conservatorship. (c) All expenses of a conservatorship shall be paid out of the assets of the universal bank upon the approval of the Commissioner, shall be a first charge upon the assets of the universal bank, and shall be paid in full before a final distribution or payment of dividends to creditors or shareholders of the universal bank.  (June 9, 2001, D.C. Law 13-308, § 223, 48 DCR 3244; Oct. 26, 2001, D.C. Law 14-42, § 15, 48 DCR 7612; Mar. 2, 2007, D.C. Law 16-191, § 49, 53 DCR 6794.)  Effect of Amendments D.C. Law 14-42 substituted “, as expenses,” for “, as expenses” in subsec. (b). D.C. Law 16-191, in subsec. (a), validated a previously made technical correction. Emergency Legislation For temporary (90 day) amendment of section, see § 15 of Technical Amendments Emergency Act of 2001 (D.C. Act 14-108, August 3, 2001, 48 DCR 7622).