D.C. Municipal Regulations (Last Updated: September 13, 2017) |
Title 26. INSURANCE, SECURITIES, AND BANKING |
SubTilte 26-C. BANKING AND FINANCIAL INSTITUTONS |
Chapter 26-C22. MONEY TRANSMITTERS |
Section 26-C2203. WAIVER OF LICENSE APPLICATION REQUIREMENTS
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2203.1An applicant that seeks a waiver of any of the license application requirements of section 7(e) of the Act or who seeks to submit substituted information on its license application in lieu of the information required by section 7(e) of the Act shall request a waiver of the license application requirement or obtain authorization to submit substituted information from the Department.
2203.2A request for a waiver pursuant to § 2203.1 shall be made in writing and shall include an explanation of the reason(s) the applicant is seeking the waiver.
2203.3Upon receipt of a request for a waiver pursuant to § 2203.2, the Department shall review the request to determine if just and reasonable cause exists for the waiver and if the waiver pursuant to § 2203.2 would be consistent with the purposes of the Act.
2203.4Within sixty (60) days of receipt of a request made pursuant to § 2203.2 and upon completion of the review pursuant to § 2203.3, the Department shall determine whether to waive any of the license requirements of section 7(e) of the Act or the Department shall determine whether to permit substituted information on the license application in lieu of the information required in section 7(e) of the Act.