• Current through October 23, 2012

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, 1986, 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.

Legislative History of Laws

Law 6-107, the "District of Columbia Regional Interstate Banking Act of 1985 Amendments Act of 1985," was introduced in Council and assigned Bill No. 6-276, which was referred to the Committee on Housing and Economic Development. The Bill was adopted on first and second readings on January 14, 1986 and January 28, 1986, respectively. Signed by the Mayor on February 14, 1986, it was assigned Act No. 6-136 and transmitted to both Houses of Congress for its review.