GroundRules
D.C. Code § 47-351.05: Competition for banking business.
Where this section sits in the code
- Title 47. Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
- Chapter 3. Budget and Financial Management; Borrowing; Deposit of Funds.
- Subchapter III-A. Financial Institutions Deposits and Investments.
(a)
Except as otherwise provided by §§ 47-351.09, 47-351.10, and 47-351.11, the Mayor, or the CFO pursuant to § 47-351.02(c), shall select eligible financial institutions with which to conduct the banking business of the District based on the highest composite score for a bid. If 2 or more eligible financial institutions receive the highest composite score, the Mayor, or the CFO pursuant to § 47-351.02(c), shall select the eligible financial institution with the highest community development score calculated under § 47-351.07.
(b)
The Mayor, or the CFO pursuant to § 47-351.02(c), shall calculate the composite score of an eligible financial institution in the following manner:
(1)
Eighty percent based upon a financial score, calculated under § 47-351.06; and
(2)
Twenty percent based upon a community development score, calculated under § 47-351.07.
Collected 2026-08-29T05:44:07Z. Source file · JSON