{"data":{"id":"us-dc/d.c.-code-47-351.05","jurisdiction":"us-dc","citation":"D.C. Code § 47-351.05","heading":"Competition for banking business.","body":"(a)\nExcept 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.\n\n(b)\nThe Mayor, or the CFO pursuant to § 47-351.02(c), shall calculate the composite score of an eligible financial institution in the following manner:\n(1)\nEighty percent based upon a financial score, calculated under § 47-351.06; and\n(2)\nTwenty percent based upon a community development score, calculated under § 47-351.07.","path":["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."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/47-351.05","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"f59ebdfbb6e8869215b8411218c4845223e8a48f8bd89d5891d8f7201d50a052","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-47-351.04","next":"us-dc/d.c.-code-47-351.06"},"notice":"GroundRules: Original legal text. Not legal advice."}