 |
D.C. Municipal Regulations (Last Updated: September 13, 2017) |
 |
Title 26. INSURANCE, SECURITIES, AND BANKING |
|
SubTilte 26-C. BANKING AND FINANCIAL INSTITUTONS |
|
Chapter 26-C2. APPLICATIONS |
Section 26-C201. APPLICATIONS TO DO BUSINESS GENERALLY
-
201.1Any person required to file an application under subsection 200.2 of these rules shall file with the Commissioner a Form 1, which is incorporated into these rules by reference.
201.2Any financial institution wishing to open a branch or other business office in the District, including a branch or agency of a foreign bank, shall file with the Commissioner a Form 1. In the case of a foreign bank wishing to establish a branch or agency, a Form 2 shall also be filed with the Commissioner. Form 2 is incorporated into these rules by reference.
201.3At a minimum, an application shall include a business plan which describes the applicant's proposed capital investment in the District and a community development program. The community development program shall set forth the applicant's plan to: assist in the development of economically disadvantaged and underserved neighborhoods in the District; assist in meeting the credit and deposit service needs of low and moderate income and minority District residents; assist in expanding support for small, minority, and woman-owned businesses; and market and publicize the community development program. In designating underserved areas, the Commissioner shall place emphasis on areas located within Development Zones.
201.4 Any commitment made as part of a community development program submitted pursuant to subsection 201.3 of these rules may be satisfied, in part, by investment in the District of Columbia Economic Development Finance Corporation, established pursuant to the District of Columbia Economic Development Finance Corporation Act of 1984, effective June 29, 1984 (D.C. Law 5-89; D.C. Official Code §§ 2.1207.01 et seq. (2001)