§ 31–106. Organization.

(a) The Commissioner, as the chief executive officer of the Department is authorized to organize the personnel and property transferred herein within any organizational unit of the Department as the Commissioner deems appropriate.

(b)(1) The Securities and Banking Bureau is established to oversee the regulation of securities under the supervision of the Commissioner and administer the District of Columbia Banking Code.

(2) The position of Associate Commissioner for Securities and Banking is hereby established to administer the Banking Bureau under the supervision of the Commissioner.

(May 21, 1997, D.C. Law 11-268, § 7, 44 DCR 1730; June 11, 2004, D.C. Law 15-166, § 3(f), 51 DCR 2817; Sept. 24, 2010, D.C. Law 18-223, § 2112(c), 57 DCR 6242.)

Prior Codifications

1981 Ed., § 35-126.

Effect of Amendments

D.C. Law 15-166 designated the text of the existing section as subsection (a); in subsec. (a), substituted “Commissioner” for “Commissioner of Insurance and Securities” and substituted “Department” for “Department of Insurance and Securities Regulation”; and added subsec. (b).

D.C. Law 18-223 rewrote subsec. (b)(1); and, in subsec. (b)(2), substituted “Associate Commissioner for Securities and Banking” for “Director of the Bureau of Banking and Financial Institutions”. Prior to amendment, subsec. (b)(1) read as follows: “(b)(1) The Bureau of Banking and Financial Institutions is hereby established to administer the District of Columbia Banking Code under supervision of the Commissioner.”

Emergency Legislation

For temporary (90 day) amendment of section, see § 3(f) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).

For temporary (90 day) amendment of section, see § 2112(c) of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).