§ 26–511.01. Tax exemption.
(a) Credit unions organized under District law, their property, their franchises, capital, reserves, surpluses, and other funds, and their income shall be exempt from all taxation imposed by the District; except, that real property and tangible personal property of a District credit union shall be subject to District taxation to the same extent as other similar property is taxed.
(b) The participation by a District credit union in any government program providing unemployment, social security, old age pension, or other benefits shall not be deemed a waiver of the taxation exemption granted under this section.
§ 26–511.02. Compliance review documents.
(a) Compliance review documents are privileged and confidential and are nondiscoverable and nonadmissible in a civil action; except, that a District credit union may provide access to compliance review documents to an affiliate, regulatory agency, or share insurer. The delivery of compliance review documents to an affiliate, regulatory agency, or share insurer shall not constitute a waiver of the privilege granted in this section.
(b) This section shall not be construed to limit the discovery or admissibility in any civil action of any documents other than compliance review documents.
(c) For the purposes of this section, the term "compliance review documents" includes documents used to evaluate and seek to improve the District credit union's loan policies or underwriting standards, asset quality, or financial reporting to a government unit, or comply with federal or state statutory or regulatory requirements.