Code of the District of Columbia

§ 26–1152.14. No call provision.

A lender shall not make a covered loan that includes a call provision that permits the lender, in its sole discretion, to accelerate the indebtedness; provided, that this prohibition shall not apply when repayment of the covered loan has been accelerated by a bona fide default or pursuant to some other provision of the loan agreement unrelated to the payment schedule.

(May 7, 2002, D.C. Law 14-132, § 214, 49 DCR 2551.)

Emergency Legislation

For temporary (90 day) addition of section, see § 214 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).