Statutes, codes, and regulations
District of Columbia Official Code
Division V - LOCAL BUSINESS AFFAIRSTitle 26 - BANKS AND OTHER FINANCIAL INSTITUTIONS
Chapter 9 - MONEY LENDERS; LICENSES
Section 26-909 - Penalty provisions in contracts prohibited

D.C. Code § 26-909

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Current through codified legislation effective September 18, 2024
Section 26-909 - Penalty provisions in contracts prohibited

In any contract made in pursuance of the provisions of this chapter it shall be unlawful to incorporate any provision for liquidated or other damages as a penalty for any default or forfeiture thereunder.

D.C. Code § 26-909

Feb. 4, 1913, 37 Stat. 660, ch. 26, § 9.