No mortgage lender, mortgage broker, mortgage loan originator, or loan officer required to be licensed under this chapter shall use, or cause to be published, any advertisement which:

1. (1) Contains any false, misleading, or deceptive statement or representation; or
2. (2) Identifies the mortgage lender, mortgage broker, mortgage loan originator, or loan officer by any name other than the name set forth on the license issued by the Superintendent [Commissioner].

History

Sept. 9, 1996, D.C. Law 11-155, § 17, 43 DCR 4213

July 18, 2009, D.C. Law 18-38, § 2(j), 56 DCR 4290

Editor's Notes

Section 3 of D.C. Law 18-38 provided: “Sec. 3. Applicability. Except for section 2(c)(1), (g), (j), and (o), this act shall not apply until the Commissioner of the Department of Insurance, Securities, and Banking has promulgated rules implementing this act.”

Emergency Legislation

For temporary (90 day) amendment of section, see § 2(j) of Mortgage Lender and Broker Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-31, March 16, 2009, 56 DCR 2327).

For temporary (90 day) amendment of section, see § 2(j) of Mortgage Lender and Broker Emergency Amendment Act of 2008 (D.C. Act 17-617, December 22, 2008, 56 DCR 189).

Temporary Legislation

Section 5(b) of D.C. Law 17-350 provided that the act shall expire after 225 days of its having taken effect.

Section 2(j) of D.C. Law 17-350, in the lead-in text, substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”; and, in par. (2), substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “lender or broker”.

Effect of Amendments

D.C. Law 18-38, in the introductory language, substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”; and, in par. (2), substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “lender or broker”.

Prior Codifications

1981 Ed., § 26-1016.