A universal bank may operate under the articles of incorporation and bylaws which were in effect before the universal bank's certification as a universal bank or under subsequently amended articles of incorporation and bylaws which are consistent with the provisions and purposes of this chapter.
(June 9, 2001, D.C. Law 13-308, § 228, 48 DCR 3244.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 13-308, see notes following § 26-1401.01.
(a) A universal bank may purchase the assets of, merge with, acquire, or be acquired by, a financial institution, or the holding company of a financial institution, only after a written application to the Commissioner and the written approval of the application by the Commissioner.
(b) An application for approval of the Commissioner under subsection (a) of this section shall be submitted on a form, and accompanied by a fee, prescribed by the Commissioner. In reviewing and approving or disapproving an application under this section, the Commissioner shall apply the standards required by the District of Columbia Banking Code, including the applicant's general plan of business, proposed plan of capital investment in the District, and community development program.
(June 9, 2001, D.C. Law 13-308, § 229, 48 DCR 3244.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 13-308, see notes following § 26-1401.01.
The Commissioner may establish fees for the filing of documents, the processing of applications, and other services provided by the Commissioner or the Department under this chapter.
(June 9, 2001, D.C. Law 13-308, § 230, 48 DCR 3244.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 13-308, see notes following § 26-1401.01.
The Commissioner may prescribe rules governing the activities of universal banks and implementing this chapter, pursuant to subchapter I of Chapter 5 of Title 2.
(June 9, 2001, D.C. Law 13-308, § 231, 48 DCR 3244.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 13-308, see notes following § 26-1401.01.
