Use of minority-owned savings and loan associations

1. Law
2. District of Columbia Code
3. Banks and Other Financial Institutions
4. Savings and Loan Acquisition
5. Use of minority-owned savings and loan associations

(a) Recipients of the District of Columbia government contracts are encouraged to use federally and District chartered minority-owned savings and loan associations certified by the Small and Local Business Opportunity Commission in accordance with subchapter IX-A of Chapter 2 of Title 2.

(b) The Mayor shall, pursuant to subchapter I of Chapter 5 of Title 2, issue rules to implement the provisions of this section within 90 days of March 16, 1989. All rules issued pursuant to this subsection shall be transmitted to the Council for review.

(Oct. 12, 1988, D.C. Law 7-175, § 17a; as added Mar. 16, 1989, D.C. Law 7-187, § 3(b), 35 DCR 8648; October 4, 2000, D.C. Law 13-169, § 7, 47 DCR 5846; Oct. 20, 2005, D.C. Law 16-33, § 2381(b), 52 DCR 7503.)

Prior Codifications

1981 Ed., § 26-917.

Effect of Amendments

D.C. Law 13-169 in subsec. (a) substituted for “Minority Business Opportunity Commission in accordance with the District of Columbia Minority Contracting Act of 1976, § 1-1141 et seq.” 1981 Ed. the phrase “District of Columbia Local Business Opportunity Commission in accordance with subchapter II-B of Chapter 11 of Title 1” [1981 Ed.].

D.C. Law 16-33, in subsec. (a), substituted “Small and Local Business Opportunity Commission in accordance with subchapter IX-A of Chapter 2 of Title 2” for “District of Columbia Local Business Opportunity Commission in accordance with subchapter IX of Chapter 2 of Title 2”.

Cross References

Banking institutions organized under federal statute, application of District law, see § 26-710.

Emergency Legislation

For temporary (90-day) amendment of section, see § 7 of the Equal Opportunity for Local, Small, or Disadvantaged Business Enterprises Emergency Amendment Act of 2000 (D.C. Act 13-415, August 14, 2000, 47 DCR 7296).

For temporary (90 day) amendment of section, see § 2381(b) of Fiscal Year 2006 Budget Support Emergency Act of 2005 (D.C. Act 16-168, July 26, 2005, 52 DCR 7667).

Temporary Legislation

Section 7 of D.C. Law 13-216, in subsec. (a), substituted “District of Columbia Local Business Opportunity Commission in accordance with the Equal Opportunity for Local, Small, and Disadvantaged Business Enterprises Act of 1998” for “Minority Business Opportunity Commission in accordance with the District of Columbia Minority Contracting Act of 1976”.

Section 11(b) of D.C. Law 13-216 provided that the act shall expire after 225 days of its having taken effect.

Download our app to see the most-to-date content.