D.C. Mun. Regs. tit. 26, r. 26-C2206
An applicant that has ceased money transmission operations in the District of Columbia and proposes a waiver or a reduction of the security device requirements of section 8(c) of the Act shall request a waiver of the security device requirements or a reduction of the security device of the permissible investments and statutory trust requirement from the Department.
A request for a waiver or reduction of the security device requirements pursuant to § 2206.1 shall be made in writing and shall include an explanation of the reason(s) the applicant is seeking the waiver or reduction. The request also shall include a calculation of the applicant's outstanding payment instruments in the District of Columbia.
Upon receipt of a request for a waiver pursuant to § 2206.2, the Department shall compare the reduction in the applicant's total dollar volume of outstanding payment instruments in the District of Columbia to the applicant's posted bond or other security device. In addition, the Department shall determine if just and reasonable cause exists for a waiver or reduction and if a waiver or reduction pursuant to § 2206.2 would be consistent with the purposes of the Act.
Within sixty (60) days of receipt of a request pursuant to § 2206.2 and upon completion of the review pursuant to § 2206.3, the Department shall determine whether the applicant's security device shall be reduced or eliminated prior to the 5-year holding period set forth in section 8(c) of the Act to the extent that the amount of the applicant's outstanding payment instruments in the District of Columbia are reduced.
D.C. Mun. Regs. tit. 26, r. 26-C2206