§ 26-1120. Limitation on name of mortgage business.

Current through October 23, 2012

A mortgage lender, mortgage broker, mortgage loan originator, or loan officer may not do business under any trade name that misrepresents or tends to misrepresent that the mortgage lender is:

(1) A bank, trust company, or savings bank;

(2) A savings and loan association;

(3) A credit union; or

(4) An insurance company.

                
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(Sept. 9, 1996, D.C. Law 11-155, § 21, 43 DCR 4213; July 18, 2009, D.C. Law 18-38, § 2(n), 56 DCR 4290.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 26-1020.

Effect of Amendments

D.C. Law 18-38 substituted "mortgage lender, mortgage broker, mortgage loan originator, or loan officer" for "mortgage lender or mortgage broker".

Temporary Amendments of Section

Section 2(l) of D.C. Law 17-350 substituted "mortgage lender, mortgage broker, mortgage loan originator, or loan officer" for "mortgage lender or mortgage broker".

Section 5(b) of D.C. Law 17-350 provides that the act shall expire after 225 days of its having taken effect.

Emergency Act Amendments

For temporary (90 day) amendment of section, see § 2(l) of Mortgage Lender and Broker Emergency Amendment Act of 2008 (D.C. Act 17-617, December 22, 2008, 56 DCR 189).

For temporary (90 day) amendment of section, see § 2(l) of Mortgage Lender and Broker Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-31, March 16, 2009, 56 DCR 2327).

Legislative History of Laws

For legislative history of D.C. Law 11-155, see Historical and Statutory Notes following § 26-1101.

For Law 18-38, see notes following § 26-1101.