§ 26–1116. Advertising.

No mortgage lender, mortgage broker, mortgage loan originator, or loan officer required to be licensed under this chapter shall use, or cause to be published, any advertisement which:

(1) Contains any false, misleading, or deceptive statement or representation; or

(2) Identifies the mortgage lender, mortgage broker, mortgage loan originator, or loan officer by any name other than the name set forth on the license issued by the Superintendent [Commissioner].

(Sept. 9, 1996, D.C. Law 11-155, § 17, 43 DCR 4213; July 18, 2009, D.C. Law 18-38, § 2(j), 56 DCR 4290.)

Prior Codifications

1981 Ed., § 26-1016.

Effect of Amendments

D.C. Law 18-38, in the introductory language, substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”; and, in par. (2), substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “lender or broker”.

Emergency Legislation

For temporary (90 day) amendment of section, see § 2(j) of Mortgage Lender and Broker Emergency Amendment Act of 2008 (D.C. Act 17-617, December 22, 2008, 56 DCR 189).

For temporary (90 day) amendment of section, see § 2(j) of Mortgage Lender and Broker Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-31, March 16, 2009, 56 DCR 2327).

Temporary Legislation

Section 2(j) of D.C. Law 17-350, in the lead-in text, substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”; and, in par. (2), substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “lender or broker”.

Section 5(b) of D.C. Law 17-350 provided that the act shall expire after 225 days of its having taken effect.

Editor's Notes

Section 3 of D.C. Law 18-38 provided: “Sec. 3. Applicability. Except for section 2(c)(1), (g), (j), and (o), this act shall not apply until the Commissioner of the Department of Insurance, Securities, and Banking has promulgated rules implementing this act.”