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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) If the Commissioner determines that termination of the conservatorship and resumption of the transaction of the universal bank's business by the universal bank can be achieved and maintained in a safe and sound manner and is otherwise in the public interest, the Commissioner may petition the Superior Court to terminate a conservatorship and permit the universal bank to resume the transaction of its business, subject to terms, conditions, restrictions, and limitations as the Commissioner determines are appropriate.
(b) If the Superior Court determines that reasons for the conservatorship no longer exist, the Superior Court may dissolve the conservatorship and terminate any pending proceedings.
(c) If the Commissioner determines that it would be in the public interest, the Commissioner may petition the Superior Court for termination of a conservatorship and appointment of a receiver for the universal bank under § 26-1401.20.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 26-1401.27. Termination of conservatorship. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-26-1401-27/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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