Statutes, codes, and regulations
District Of Columbia Administrative Code
Title 26 - INSURANCE, SECURITIES AND BANKINGSubtitle 26-C - BANKING AND FINANCIAL INSTITUTIONS
Chapter 26-C26 - LOANING MONEY
Rule 26-C2601 - LICENSE REQUIREMENTS

D.C. Mun. Regs. tit. 26, r. 26-C2601

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Current through Register Vol. 71, No. 49, December 6, 2024
Rule 26-C2601 - LICENSE REQUIREMENTS
2601.1

It shall be unlawful for any person to engage in the District of Columbia in the business of loaning money without first obtaining a money lender's license.

2601.2

A Money Lender's License Class A shall authorize the holder of the license to engage in the District of Columbia in the business of loaning money upon which a rate of interest in excess of six percent (6%) per annum is charged or received. The license fee for this license shall be eight hundred dollars ($ 800) per year.

2601.3

A Money Lender's License Class B shall authorize the holder of the license to engage in the District of Columbia in the business of loaning money upon which a rate of interest of six percent (6%) per annum or less is charged or received. The license fee for this license shall be three hundred nineteen dollars ($ 319) per year.

D.C. Mun. Regs. tit. 26, r. 26-C2601

Section 2 of Regulations for the conduct of the business of loaning money, Commissioners' Order 275,403/13, promulgated September 6, 1959, 5Q DCRR § 2.1, Special Edition (September 21, 1970)