D.C. Mun. Regs. tit. 26, r. 26-C2901

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

Rule 26-C2901 - COLLATERAL SUPPORT PROGRAM

2901.1 The Collateral Support Program shall provide a cash collateral deposit to an Eligible Lender in order to enhance the collateral coverage of an Eligible Recipient that is otherwise qualified but unable to meet the Eligible Lender's security requirements. The cash collateral deposit will then be pledged as collateral on behalf of the Eligible Recipient.

2901.2 The Department of Insurance, Securities and Banking ("DISB") may deposit cash assets of up to fifty percent (50%) of the loan amount but no more than one million dollars ($1,000,000). The maximum term of an Enrolled Loan shall not exceed seven (7) years.

As amended by Final Rulemaking published at 61 DCR 9181 (September 5, 2014)