§ 26–1120. Limitation on name of mortgage business.
A mortgage lender, mortgage broker, mortgage loan originator, or loan officer may not do business under any trade name that misrepresents or tends to misrepresent that the mortgage lender is:
(1) A bank, trust company, or savings bank;
(2) A savings and loan association;
(3) A credit union; or
(4) An insurance company.
(Sept. 9, 1996, D.C. Law 11-155, § 21, 43 DCR 4213 ; July 18, 2009, D.C. Law 18-38, § 2(n), 56 DCR 4290 .)
Prior Codifications
1981 Ed., § 26-1020.
Effect of Amendments
D.C. Law 18-38 substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”.
Emergency Legislation
For temporary (90 day) amendment of section, see § 2(l) 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(l) 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(l) of D.C. Law 17-350 substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”.
Section 5(b) of D.C. Law 17-350 provided that the act shall expire after 225 days of its having taken effect.
