{"data":{"id":"us-dc/d.c.-code-26-1006","jurisdiction":"us-dc","citation":"D.C. Code § 26-1006","heading":"License application.","body":"(a)\nEach application for a license shall be made in writing, under oath, and in a form prescribed by the Superintendent [Commissioner].\n\n(b)\nFor all applicants, each application shall contain:\n(1)\nThe exact name of the applicant, the applicant’s principal address, any fictitious or trade name used by the applicant in the conduct of its business, and the location of the applicant’s business records;\n(2)\nThe history of the applicant’s material litigation and criminal convictions for the 5 year period prior to the date of the application;\n(3)\nA description of the activities conducted by the applicant and a history of operations;\n(4)\nA description of the business activities in which the applicant seeks to be engaged in the District of Columbia;\n(5)\nA list identifying the applicant’s proposed authorized delegates in the District of Columbia, if any, at the time of the filing of the license application;\n(6)\nA sample authorized delegate contract, if applicable;\n(7)\nA sample form of payment instrument, if applicable;\n(8)\nThe location or locations at which the applicant and its authorized delegates, if any, propose to conduct the licensed activities in the District of Columbia; and\n(9)\nThe name and address of the clearing bank or banks on which the applicant’s payment instruments will be drawn or through which such payment instruments will be payable.\n\n(c)\nIf the applicant is a corporation, the applicant shall also provide:\n(1)\nThe date of the applicant’s incorporation and state of incorporation;\n(2)\nA certificate of good standing from the state in which the applicant was incorporated;\n(3)\nA description of the corporate structure of the applicant, including the identity of any parent or subsidiary of the applicant, and the disclosure of whether any parent or subsidiary is publicly traded on any stock exchange;\n(4)\nThe name, business and residence address, and employment history for the 5 years prior to the date of the application of the applicant’s executive officers and the officer or managers who will be in charge of the applicant’s activities to be licensed hereunder;\n(5)\nThe name, business and residence address, and employment history for the 5 years prior to the date of the application of any key shareholder of the applicant;\n(6)\nThe history of material litigation and criminal convictions for the 5 years prior to the date of the application of every executive officer or key shareholder of the applicant;\n(7)\nA copy of the applicant’s most recent audited financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder equity, and statement of changes in financial position, and, if available, the applicant’s audited financial statements for the immediately preceding 2 year period. However, if the applicant is a wholly owned subsidiary of another corporation, the applicant may submit either the parent corporation’s consolidated audited financial statements for the current year and for the immediately preceding 2 year period or the parent corporation’s Form 10K reports filed with the United States Securities and Exchange Commission for the prior 3 years in lieu of the applicant’s financial statements. If the applicant is a wholly owned subsidiary of a corporation having its principal place of business outside the United States, similar documentation filed with the parent corporation’s non-United States regulator may be submitted to satisfy this provision; and\n(8)\nCopies of all filings, if any, made by the applicant with the United States Securities and Exchange Commission, or with a similar regulator in a country other than the United States, within the year preceding the date of filing of the application.\n\n(d)\nIf the applicant is not a corporation, the applicant shall also provide:\n(1)\nThe name, business and residence address, personal financial statement, and employment history for the 5 years prior to the date of the application of:\n(A)\nEach principal of the applicant; and\n(B)\nAny other person or persons who will be in charge of the applicant’s activities to be licensed under this chapter;\n(2)\nThe date of the applicant’s registration or qualification to do business in the District of Columbia;\n(3)\nThe history of material litigation and criminal convictions for the 5 years prior to the date of the application for each individual having any ownership interest in the applicant and each individual who exercises supervisory responsibility with respect to the applicant’s activities; and\n(4)\nCopies of the applicant’s audited financial statements, including balance sheet, statement of income or loss, and statement of changes in financial position, for the current year and, if available, for the immediately preceding 2 years.\n\n(e)\nThe Superintendent [Commissioner] is authorized, for good cause shown, to waive any requirement of this section with respect to any license application or to permit a license applicant to submit substituted information in its license application in lieu of the information required by this section.","path":["Title 26. Banks and Other Financial Institutions.","Chapter 10. Money Transmissions."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/26-1006","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"17c68981ca71703e3d54f412828c1c5eb50cb643691c6b3c9b62a1431a9d852b","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-26-1005","next":"us-dc/d.c.-code-26-1007"},"notice":"GroundRules: Original legal text. Not legal advice."}