D.C. Mun. Regs. tit. 26, r. 26-C2900

Current through Register Vol. 71, No. 49, December 6, 2024

Rule 26-C2900 - SCOPE

2900.1 Unless specified otherwise, these regulations shall apply to the Collateral Support Program, the Loan Participation Program, and the Innovation Finance Program, which are implemented pursuant to Section 105(a)(2), (3) and (12) of the 21st Century Financial Modernization Act of 2000, effective June 9, 2001 (D.C. Law 13-308; D.C. Official Code § 26-551.05(a)(2), (a)(3) and (a)(12)).

2900.2 The Department of Insurance, Securities and Banking may, in its discretion, outsource the loan underwriting process to a qualified non-profit organization or financial institution.

2900.3 The Commissioner of the Department of Insurance, Securities and Banking may waive provisions of these rules upon good cause shown, provided the waiver is consistent with the State Small Business Credit Initiative ("SSBCI") requirements from the United States Department of the Treasury.

2900.4

All forms prescribed or authorized by this chapter can be found on the Department website at https://disb.dc.gov/service/small-business-resources.

2900.5 The Collateral Support Program, the Loan Participation Program, and the Innovation Finance Program, collectively known as the District SSBCI Programs, will implement the federal SSBCI program and will only use federal monies in their implementation.

D.C. Mun. Regs. tit. 26, r. 26-C2900

As amended by Final Rulemaking published at 61 DCR 9181 (September 5, 2014); amended by Final Rulemaking published at 70 DCR 15310 (11/24/2023)