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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 26. INSURANCE, SECURITIES, AND BANKING |
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SubTilte 26-C. BANKING AND FINANCIAL INSTITUTONS |
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Chapter 26-C4. ADMINISTRATIVE PROCEDURES |
Section 26-C404. HEARING PROCEDURES
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404.1The Commissioner shall cause a public hearing to be convened, and shall accept public comment prior to deciding whether to recommend approval of an application filed pursuant to the following sections of the D.C. Official Code:
(a)26-704(a) (application for permission to organize a new financial institution);
(b)26-704(c) (application by a regional bank holding company for permission to acquire a District bank or bank holding company); or
(c)26-706.1 (application by a nonregional bank holding company to acquire a District bank or bank holding company).
404.2The Commissioner or designated hearing officer shall preside at the hearing on the application.
404.3Notice of the hearing shall be given as follows:
(a)By publishing it in the D.C. Register at least fifteen (15) days in advance of the hearing;
(b)By posting a copy of the notice of the public hearing in the Department of Insurance, Securities and Banking at least fifteen (15) days prior to the hearing; and
(c)By providing copies of the notice of the public hearing to the public library system in the District of Columbia. These copies of the notice shall be mailed or delivered to the library system at least fifteen (15) days prior to the hearing.