201. LICENSE REQUIREMENTS

201 LICENSE REQUIREMENTS 201.1 It shall be unlawful for any person to engage in the District of Columbia in the business of loaning money without first obtaining a money lender's license. 201.2 A Money Lender's License Class A shall authorize the holder of the license to engage in the District of Columbia in the business of loaning money upon which a rate of interest in excess of six percent (6%) per annum is charged or received. The license fee for this license shall be eight hundred dollars ($ 800) per year. 201.3 A Money Lender's License Class B shall authorize the holder of the license to engage in the District of Columbia in the business of loaning money upon which a rate of interest of six percent (6%) per annum or less is charged or received. The license fee for this license shall be three hundred nineteen dollars ($ 319) per year.