reglab/statecodes huggingface dataset:
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 6A - International Banking › § 26–639. Financial certification; restrictions on investments, loans, and acceptances

§ 26–639. Financial certification; restrictions on investments, loans, and acceptances.
(a) Before opening an office in the District of Columbia, and annually thereafter so long as a banking office is maintained in the District of Columbia, an international banking corporation licensed under this chapter shall certify to the Commissioner the amount of its paid-in capital, its surplus, and its undivided profits, each expressed in the currency of the country of its organization. The dollar equivalent of this amount, as determined by the Commissioner, shall be considered to be the amount of its capital, surplus, and undivided profits.
(b)(1) The Commissioner shall, by regulation, prescribe the limits of drafts or bills of exchange which an international agency or branch may accept relative to the capital account of the international banking corporation. The limits shall take into account all transactions which are included and excluded in computing the lending limit for acceptances of a federal international bank office.
(2) Except to the extent they are inconsistent with this chapter, the provisions of the District of Columbia Banking Code shall apply to the loans and investments made by an international bank agency or international branch of the international banking corporation. With respect to an international banking corporation and its international bank agencies or international branches, a reference in those provisions to capital, capital account, or similar terms shall refer to the capital account of the international banking corporation, and, except when used with reference to the capital account, a reference in those provisions to the term “bank” shall refer to the international agencies and branches of the international banking corporation which are licensed in the District of Columbia.
(3) Any limitation in this chapter based on the capital account of an international banking corporation shall refer, with respect to an international agency or international branch in the District of Columbia, to the dollar equivalent of the capital account of the international banking corporation, as determined by the Commissioner. If the international banking corporation has more than one international agency or international branch in the District of Columbia, the business transacted by all agencies or branches shall be aggregated in determining compliance with a limitation or restriction.
(Apr. 3, 2001, D.C. Law 13-268, § 10, 48 DCR 1251.)
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 6A - International Banking › § 26–643. Commissioner’s powers; regulations

§ 26–643. Commissioner’s powers; regulations.
(a) The Commissioner shall have all of the powers granted to the Commissioner under the District of Columbia Banking Code to the extent appropriate to enable the Commissioner to supervise an international banking corporation office of an international banking corporation holding a license to maintain the office.
(b) The Commissioner may promulgate, in addition to, and not inconsistent with, this chapter, general rules, regulations, and definitions and specific rulings, demands, and findings as the Commissioner may consider necessary for the proper conduct of the business authorized and licensed under, and for the enforcement of, this chapter.
(Apr. 3, 2001, D.C. Law 13-268, § 14, 48 DCR 1251.)
Cross References
Banks and other financial institutions, reporting to Superintendent of Banking and Financial Institutions, see § 26-1308.
Editor's Notes
Because of the enactment by D.C. Law 11-142 of subchapter II of Chapter 8 of Title 26subchapter II of Chapter 7 of Title 26, 2001 Ed., the preexisting text was designated as subchapter I.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–701. Definitions. [Repealed]

§ 26–701. Definitions. [Repealed]
Repealed.
(Nov. 23, 1985, D.C. Law 6-63, § 2, 32 DCR 5954; Apr. 11, 1986, D.C. Law 6-107, § 2(a), 33 DCR 1168; Apr. 30, 1988, D.C. Law 7-104, § 27(a), 35 DCR 147; Mar. 16, 1989, D.C. Law 7-187, § 2(a), 35 DCR 8648; Aug. 17, 1991, D.C. Law 9-42, § 2(a), 38 DCR 4981; June 9, 2001, D.C. Law 13-308, § 124, 48 DCR 3244.)
Prior Codifications
1981 Ed., § 26-801.
Transfer of Functions
Pursuant to Reorganization Plan No. 3 of 1992, effective January 20, 1993, unless another date was designated by the Mayor under sec V of the Plan, the D.C. Office of Banking and Financial Institutions (“OBFI”) is hereby transferred from the Deputy Mayor for Economic Development (“DMED”) control center to a separate OBFI control center/responsibility center. OBFI will continue to be administered by the Superintendent and will remain a part of the economic development cluster reporting to the Mayor.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–702. Regional bank holding company acquisitions

§ 26–702. Regional bank holding company acquisitions.
(a) A regional bank holding company may acquire a District of Columbia bank holding company or a District of Columbia bank (other than a District of Columbia bank holding company or a District of Columbia bank which is acquired either pursuant to section 13 of the Federal Deposit Insurance Act (12 U.S.C. § 1823(f)), or in the regular course of securing or collecting a debt previously contracted in good faith, as provided in section 3(a) of the Bank Holding Company Act of 1956 (12 U.S.C. § 1842(a)), if each of the following requirements is met:
(1) The laws of the state in which the regional bank holding company making the acquisition has its principal place of business permit the regional bank holding company to be acquired by the District of Columbia bank holding company or the District of Columbia bank sought to be acquired.
(2) Either the District of Columbia bank sought to be acquired has been in existence and continuously operating for more than 2 years or all of the bank subsidiaries of the District of Columbia bank holding company sought to be acquired have been in existence and continuously operating for more than 2 years. A regional bank holding company may acquire all or substantially all of the shares of a bank organized solely for the purpose of facilitating the acquisition of a bank that has been in existence and continuously operating as a bank for more than 2 years.
(3) The acquisition complies with any conditions, restrictions, requirements, or other limitations that would apply to the acquisition by the District of Columbia bank holding company or the District of Columbia bank sought to be acquired of a bank or bank holding company located in the state where the regional bank holding company making the acquisition has its principal place of business, but that would not apply to the acquisition of a bank or bank holding company in the state by a bank holding company, all the bank subsidiaries of which are located in that state.
(b) For the purpose of subsection (a)(1) and (3) of this section, a District of Columbia bank shall be treated as if it were a District of Columbia bank holding company.
(Nov. 23, 1985, D.C. Law 6-63, § 3, 32 DCR 5954; Mar. 27, 1993, D.C. Law 9-261, § 2, 40 DCR 1030; Sept. 30, 1993, D.C. Law 10-16, § 2, 40 DCR 5448; May 16, 1995, D.C. Law 10-255, § 20, 41 DCR 5193.)
Prior Codifications
1981 Ed., § 26-802.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–703. Exceptions

§ 26–703. Exceptions.
A District of Columbia bank holding company, a District of Columbia bank, a regional bank holding company, or a regional bank may acquire or control, and shall not cease to be a District of Columbia bank holding company, a District of Columbia bank, a regional bank holding company, or a regional bank, as the case may be, by virtue of its acquisition or control of:
(1) A bank having banking offices in a state not within the region, if the bank has been acquired pursuant to the provisions of 12 U.S.C. § 1730a(m) [repealed] or 12 U.S.C. § 1823(f);
(2) A bank having banking offices in a state not within the region, if the bank has been acquired in the regular course of securing or collecting a debt previously contracted in good faith, as provided in 12 U.S.C. § 1842(a), and if the bank or bank holding company divests the securities or assets acquired within 2 years of the date of acquisition; or
(3) A bank or corporation organized under the laws of the United States or of any state and operating under 12 U.S.C. § 601 or 12 U.S.C. §§ 611-632, or a bank or bank holding company organized under the laws of a foreign country that is principally engaged in business outside the United States and that either has no banking office in the United States or has banking offices in the United States that are engaged only in business activities permissible for a corporation operating under 12 U.S.C. § 601 or 12 U.S.C. §§ 611-632.
(Nov. 23, 1985, D.C. Law 6-63, § 4, 32 DCR 5954; Feb. 5, 1994, D.C. Law 10-68, § 25(b), 40 DCR 6311.)
Prior Codifications
1981 Ed., § 26-803.
References in Text
“ 12 U.S.C. § 1730a,” referred to in (1), was repealed by Pub. L. 101-73, title IV, § 407, August 9, 1989, 103 Stat. 363.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–705. Prohibited acts

§ 26–705. Prohibited acts.
(a) Except as otherwise expressly permitted by applicable federal or District law, a bank holding company that is neither a District bank holding company nor a regional bank holding company shall not acquire a District bank holding company or a District bank.
(b) Except as otherwise required by applicable federal law, a District bank holding company or a regional bank holding company that ceases to be a District bank holding company or a regional bank holding company shall, as soon as practicable, and, in all events, within 1 year after the event, divest itself of control of all District bank holding companies and all District banks. Divestiture shall not be required if (1) the District bank holding company or the regional bank holding company ceases to be a District bank holding company or a regional bank holding company, as the case may be, because of an increase in the deposits held by bank subsidiaries not located within the region and if the increase is not the result of an acquisition of a bank holding company or bank, or (2) a District bank or District bank holding company ceases to be a District bank or District bank holding company because of an acquisition authorized by this subchapter.
(Nov. 23, 1985, D.C. Law 6-63, § 6, 32 DCR 5954; Apr. 11, 1986, D.C. Law 6-107, § 2(d), 33 DCR 1168.)
Prior Codifications
1981 Ed., § 26-805.
Editor's Notes
Because of the codification of D.C. Law 11-142 as subchapter II of Chapter 8 subchapter II of Chapter 7, 2001 Ed., and designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in (b).
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–706. Applicable laws, rules, and regulations

§ 26–706. Applicable laws, rules, and regulations.
Any District of Columbia bank that is controlled by a bank holding company that is not a District of Columbia bank holding company shall be subject to all laws of the District of Columbia and all rules and regulations under those laws that are applicable to District of Columbia banks that are controlled by bank holding companies all the bank subsidiaries of which are District of Columbia banks.
(Nov. 23, 1985, D.C. Law 6-63, § 7, 32 DCR 5954.)
Prior Codifications
1981 Ed., § 26-806.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–707.01. Insurance

§ 26–707.01. Insurance.
(a) Any bank or trust company established or created pursuant to this subchapter shall be required to be insured with the Federal Deposit Insurance Corporation pursuant to 12 U.S.C. § 1811 et seq.
(b) Any savings and loan association established or created pursuant to this subchapter shall be required to be insured with the Federal Savings and Loan Insurance Corporation pursuant to 12 U.S.C. § 1724 et seq. [repealed].
(Nov. 23, 1985, D.C. Law 6-63, § 8a; as added Apr. 11, 1986, D.C. Law 6-107, § 2(g), 33 DCR 1168.)
Prior Codifications
1981 Ed., § 26-807.1.
References in Text
“ 12 U.S.C. § 1724 et seq.,” referred to in (b), was repealed by Pub. L. 101-73, title IV, § 407, August 9, 1989, 103 Stat. 363.
The “Federal Savings and Loan Insurance Corporation”, referred to in (b), has been abolished. For provisions relating to the abolition of the Federal Savings and Loan Insurance Corporation and the transfer of functions, personnel and property of that agency, see §§ 401 to 406 of Pub. L. 101-73, set out as a note under 12 U.S.C. § 1437.
Editor's Notes
Because of the codification of D.C. Law 11-142 as subchapter II of Chapter 8 [subchapter II of Chapter 7, 2001 Ed.], and the designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in (a) and (b).
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–707.02. Penalties

§ 26–707.02. Penalties.
(a) Any company violating any provision of this subchapter or any rule issued pursuant to it shall be subject to a penalty of not more than $100 per day for each day the violation continues unless a different penalty is specified in this subchapter for the violation, in which case the specified penalty shall apply. Any penalty imposed shall be recovered in a civil action in the name of the District of Columbia.
(b) Any company wilfully violating this subchapter or any rule or regulation issued pursuant to this subchapter shall be subject to a penalty of not more than $1,000 a day for each day the violation continues unless a different penalty is specified in this subchapter for the violation, in which case the specified penalty shall apply.
(c) The Superintendent [Commissioner of the Department of Insurance, Securities, and Banking] shall report violations to the Corporation Counsel who may institute a civil action therefor on behalf of the District of Columbia.
(d) Any applicant that fails to comply with requirements concerning filing with the Superintendent [Commissioner] and the Council prior to filing with the Federal Reserve Board shall be fined $500 per day for each day the violation continues, but in no event shall the fine imposed by this subsection exceed $5,000, except that no fine or penalty under this subsection shall be assessed for failure to comply with this section if the application concerns an acquisition under circumstances constituting an emergency, pursuant to 12 U.S.C. § 1842(b), or where the applicant believes, in good faith, that the application concerns such an acquisition, so long as the applicant, as soon as practicable before or after filing with the Federal Reserve Board, files a copy of the application and any notice of approval or disapproval by the Federal Reserve Board with the Superintendent [Commissioner].
(Nov. 23, 1985, D.C. Law 6-63, § 8b; as added Apr. 11, 1986, D.C. Law 6-107, § 2(h), 33 DCR 1168.)
Prior Codifications
1981 Ed., § 26-807.2.
Editor's Notes
Because of the codification of D.C. Law 11-142 as subchapter II of Chapter 8 subchapter II of Chapter 7, 2001 Ed., and designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” throughout (a) and (b).
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–708. Nonseverability. [Repealed]

§ 26–708. Nonseverability. [Repealed]
Repealed.
(Apr. 11, 1986, D.C. Law 6-107, § 2(i), 33 DCR 1168.)
Prior Codifications
1981 Ed., § 26-808.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–709. Review of impact

§ 26–709. Review of impact.
(a) Three years after November 23, 1985, the committee of the Council which has oversight of banking regulations shall convene a public hearing to receive testimony that will aid the committee in determining whether passage of this subchapter:
(1) Has led to the creation of an increased number of jobs for District residents;
(2) Has increased the availability of commercial banking services for District residents and businesses, including minority and women-owned businesses;
(3) Has increased, or otherwise altered, local lending and investment by District of Columbia banks that have been acquired by District of Columbia or regional bank holding companies;
(4) Has led to a strengthening of the local commercial banking market; or
(5) Has otherwise benefited the residents of the District of Columbia.
(b) The committee shall use the information acquired at the hearing required by subsection (a) of this section to determine whether the District should continue to participate in the regional reciprocal interstate banking arrangement provided for in this subchapter and if so, for what period and to what extent. The committee may also determine whether a limit should be imposed on the number of banks or on the percentage of District deposits controlled by a single company; whether specific capitalization, employment, and location requirements should be imposed on out-of-state bank holding companies wishing to acquire District banks or bank holding companies; and whether specific plans detailing how the acquiror and acquiree intend to serve deposit and credit needs of District residents should be required. As soon as practicable after conclusion of the hearing, but no later than 6 months after the hearing, the committee shall file with the Office of the Secretary a recommendation or recommendations for Council action to alter the provisions of this subchapter, if necessary.
(Nov. 23, 1985, D.C. Law 6-63, § 10, 32 DCR 5954.)
Prior Codifications
1981 Ed., § 26-809.
Editor's Notes
Because of the codification of D.C. Law 11-142 as subchapter II of Chapter 8 subchapter II of Chapter 7, 2001 Ed., and the designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in the introductory language of (a) and in (b).
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–710. Applicability

§ 26–710. Applicability.
(a) Except as expressly provided, the following laws shall not apply to national banks organized pursuant to 12 U.S.C. §§ 21 to 95, members of Federal Home Loan Banks as defined in 12 U.S.C. §§ 1422 to 1424, and Federal Credit Unions as defined in 12 U.S.C. § 1752, but shall apply to all banks, savings companies, trust companies, related holding companies, or other banking institutions in the District of Columbia:
(1) Sections 26-101, 26-102, 26-1301 through 26-1352, and 26-201 through 26-232;
(2) Sections 26-901 through 26-912;
(3) Section 26-103;
(4) Sections 26-801 and 26-802;
(5) Sections 26-104, 26-107, 26-108 [repealed], and 26-109;
(6) Sections 26-105 and 26-106;
(7) Sections 26-110, 26-803, and 26-804;
(8) Chapter 4 of this title;
(9) Section 26-251; and
(10) Sections 26-521 through 26-524.
(b) The Superintendent [Commissioner of the Department of Insurance, Securities, and Banking] shall not have the power to regulate the authority or activities of a bank holding company or bank in a manner which, directly or indirectly, cause it to operate its national banking subsidiary in a manner which violates federal requirements.
(Nov. 23, 1985, D.C. Law 6-63, § 10a; as added Apr. 11, 1986, D.C. Law 6-107, § 2(j), 33 DCR 1168; May 6, 2020, D.C. Law 23-86, 67 DCR 3476.)
Prior Codifications
1981 Ed., § 26-809.1.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–711. Use of women-owned banks

§ 26–711. Use of women-owned banks.
(a) Recipients of District of Columbia government contracts are encouraged to use women-owned banks and federally or District chartered minority-owned banks certified by the Small and Local Business Opportunity Commission in accordance with subchapter IX-A of Chapter 2 of Title 2.
(b) The Mayor shall, pursuant to subchapter I of Chapter 5 of Title 2, issue rules to implement the provisions of this section within 90 days of March 16, 1989. All rules issued pursuant to this subsection shall be transmitted to the Council for review.
(Nov. 23, 1985, D.C. Law 6-63, § 10b; as added Mar. 16, 1989, D.C. Law 7-187, § 2(b), 35 DCR 8648; October 4, 2000, D.C. Law 13-169, § 6, 47 DCR 5846; Oct. 20, 2005, D.C. Law 16-33, § 2381(a), 52 DCR 7503.)
Prior Codifications
1981 Ed., § 26-810.
Effect of Amendments
D.C. Law 13-169 in subsec. (a) substituted for “Minority Business Opportunity Commission in accordance with the District of Columbia Minority Contracting Act of 1976, § 1-1141 et seq.” the phrase “District of Columbia Local Business Opportunity Commission in accordance with subchapter II-B of Chapter 11 of Title 1-I”.
D.C. Law 16-33, in subsec. (a), substituted “Small and Local Business Opportunity Commission in accordance with subchapter IX-A of Chapter 2 of Title 2” for “District of Columbia Local Business Opportunity Commission in accordance with subchapter IX of Chapter 2 of Title 2”.
Emergency Legislation
For temporary (90-day) amendment of section, see § 6 of the Equal Opportunity for Local, Small, or Disadvantaged Business Enterprises Emergency Amendment Act of 2000 (D.C. Act 13-415, August 14, 2000, 47 DCR 7296).
For temporary (90 day) amendment of section, see § 2381(a) of Fiscal Year 2006 Budget Support Emergency Act of 2005 (D.C. Act 16-168, July 26, 2005, 52 DCR 7667).
Temporary Legislation
Section 6 of D.C. Law 13-216, in subsec. (a), substituted “District of Columbia Local Business Opportunity Commission in accordance with the Equal Opportunity for Local, Small, and Disadvantaged Business Enterprises Act of 1998” for “Minority Business Opportunity Commission in accordance with the District of Columbia Minority Contracting Act of 1976”.
Section 11(b) of D.C. Law 13-216 provided that the act shall expire after 225 days of its having taken effect.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–713. Hearings

§ 26–713. Hearings.
Any administrative hearing held in accordance with this subchapter shall be held pursuant to Chapter 5 of Title 2, unless the Superintendent [Commissioner of the Department of Insurance, Securities, and Banking] determines that a public proceeding would jeopardize or adversely affect the safety and soundness of the bank or the public interest. If the Superintendent [Commissioner] makes the determination, the hearing may be held in private session.
(Nov. 23, 1985, D.C. Law 6-63, § 10d; as added Aug. 17, 1991, D.C. Law 9-42, § 2(d), 38 DCR 4981.)
Prior Codifications
1981 Ed., § 26-812.
Editor's Notes
Because of the codification of D.C. Law 11-142 as subchapter II of Chapter 8 subchapter II of Chapter 7, 2001 Ed., and designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in this section.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter I - Regional Interstate Banking › § 26–714. Enforcement

§ 26–714. Enforcement.
Any order issued pursuant to this subchapter may be enforced in the Superior Court of the District of Columbia.
(Nov. 23, 1985, D.C. Law 6-63, § 10e; as added Aug. 17, 1991, D.C. Law 9-42, § 2(d), 38 DCR 4981.)
Prior Codifications
1981 Ed., § 26-813.
Editor's Notes
Because of the codification of D.C. Law 11-142 as subchapter II of Chapter 8 [subchapter II of Chapter 7, 2001 Ed.], and the designation of the preexisting text as subchapter I, “subchapter” has been substituted for “chapter” in this section.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–731. Findings

§ 26–731. Findings.
The Council of the District of Columbia hereby finds and declares that:
(1) On September 29, 1994, the federal Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (“federal legislation”) became law.
(2) Sections 102 and 103 of the federal legislation permit states to enact early opt in legislation to enable a state to appropriately regulate interstate banking, branching, and bank mergers and acquisitions prior to June 1997 when all provisions of the federal legislation will become fully effective.
(3) It is the intent of the District of Columbia to exercise its statutory option under the federal legislation by opting in to its interstate branching schemata thus permitting the District’s Office of Banking and Financial Institutions to regulate, pursuant to the federal legislation, interstate branching, acquisition of branches, bank mergers, and consolidations of existing banking entities within the District of Columbia among other things.
(June 13, 1996, D.C. Law 11-142, § 2, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-851.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–733. De novo branching or acquisition of a branch into a state other than the District

§ 26–733. De novo branching or acquisition of a branch into a state other than the District.
(a) With the approval of the Superintendent [Commissioner of the Department of Insurance, Securities, and Banking], a District state bank may establish and maintain a de novo branch or acquire a branch in a state other than the District.
(b) A District state bank (“applicant”) desiring to branch into a state other than the District under this section shall file an application on a form provided by the Superintendent [Commissioner] and pay a branching fee of $500 to the Superintendent [Commissioner]. If, within 30 days after receipt of the application, the Superintendent [Commissioner] determines that the applicant possesses sufficient resources to branch into a state other than the District, the Superintendent [Commissioner] shall approve the application.
(c) In reviewing the application, the Superintendent [Commissioner] shall consider the views of the state bank supervisor of the host state where the branch is proposed to be located.
(d) If the Superintendent [Commissioner] fails to approve or disapprove an application within 30 days of receipt, the application shall be deemed approved. The Superintendent [Commissioner] may extend this 30-day review period for an additional 30 days upon a showing of good cause.
(e) A District state bank that branches into a state other than the District may exercise, at that branch, all rights and powers permitted to banks chartered by that state unless the Superintendent [Commissioner] determines that the exercise of such rights or powers would threaten the safety and soundness of the District bank.
(June 13, 1996, D.C. Law 11-142, § 4, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-853.
Temporary Legislation
Section 2(a) of D.C. Law 11-257 amended (a) to read as follows.
“(a) No person shall engage in business as a mortgage lender or mortgage broker, or both, or hold himself or herself out to the public to be a mortgage lender or mortgage broker for 150 days after the effective date of this chapter, unless such person has first obtained a license under this chapter.”
Section 4(b) of D.C. Law 11-257 provided that the act shall expire after 225 days of its having taken effect.
Editor's Notes
Fees credited to the Office of Banking and Financial Institutions Enterprise Fund: Section 1804(3) of D.C. Law 12-60 provided that all fees received pursuant to § 26-853(b) 1981 Ed. shall be credited to the Office of Banking and Financial Institutions Enterprise Fund.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–734. Interstate branching by de novo entry or acquisition into the District

§ 26–734. Interstate branching by de novo entry or acquisition into the District.
(a) An out-of-state bank (“applicant”) that does not maintain a branch within the District may establish and maintain a de novo branch or may acquire a branch within the District provided the applicant meets the following requirements:
(1) Submits to the Superintendent [Commissioner] a copy of the application it files with its home state supervisor or with the appropriate federal agency in order to establish such branch within the District;
(2) Pays a branching fee to be determined by the Superintendent [Commissioner]; and
(3)(A) In the case of a de novo branch to be established prior to June 1, 1997, the laws of the home state of the applicant permit District banks to establish and maintain de novo branches in that state under terms similar to those set forth in this subchapter; or
(B) In the case of a branch to be established through acquisition of a branch prior to June 1, 1997, the laws of the home state of the applicant permit District banks to establish and maintain branches in that state through the acquisition of branches under terms similar to those set forth in this subchapter.
(b) An out-of-state state bank that establishes and maintains a branch in the District may exercise, at such branch, all rights and powers permitted to be exercised by District state banks unless the out-of-state state bank’s home state determines that the exercise of such rights or powers would threaten the safety and soundness of the out-of-state state bank.
(June 13, 1996, D.C. Law 11-142, § 5, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-854.
Section References
This section is referenced in § 26-735.
Temporary Legislation
Section 2(b) of D.C. Law 11-247 amends (b) to read as follows:
“(b) The Superintendent shall approve or deny each application for a license within 60 days after the date from when the application and bond are filed and the fees are paid. The Superintendent may issue a provisional license to an applicant who has filed the application and bond and paid all required fees if the Superintendent determines that he is unable to complete the application review process within 60 days.”
Section 4(b) of D.C. Law 11-247 provided that the act shall expire after 225 days of its having taken effect.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–735. Additional authority of Superintendent [Commissioner]

§ 26–735. Additional authority of Superintendent [Commissioner]
(a) The Superintendent [Commissioner] may conduct examinations of any branch of an out-of-state state bank established or maintained within the District pursuant to § 26-734 to ensure that such branch is operating in a safe and sound manner and to ensure that such branch is in compliance with the laws of the District.
(b) The Superintendent [Commissioner] may require periodic reports from any out-of-state bank that establishes or maintains a branch in the District pursuant to § 26-734, including reports regarding any agency agreements entered into between a branch and a depository institution affiliate as authorized and established by § 26-739, provided that the reports:
(1) Are similar to reports required from District banks by the Superintendent; and
(2) Are not preempted by federal law.
(c) The Superintendent [Commissioner] may enter into cooperative agreements with any other state bank regulators for any legal purpose, including agreements for sharing of examination fees and other regulatory fees, in order to prevent duplication of regulatory functions and for the convenience and needs of the public.
(d) An out-of-state bank that has established and maintained a branch in the District may establish and maintain additional branches in the District to the same extent as a District state bank or to the extent otherwise permitted by federal law.
(June 13, 1996, D.C. Law 11-142, § 6, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-855.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–736. Interstate merger transactions by a District state bank

§ 26–736. Interstate merger transactions by a District state bank.
(a) With the permission of the Superintendent [Commissioner], a District state bank may maintain and operate a branch in a state other than the District pursuant to an interstate merger transaction with an out-of-state bank in which the District state bank is the resulting bank.
(b) A District state bank (“applicant”) desiring to establish and maintain a branch in another state under this section shall file an application on a form provided by the Superintendent [Commissioner] and pay a merger fee to be determined by the Superintendent [Commissioner]. If, within 30 days of receipt of the application, the Superintendent [Commissioner] determines that the applicant possesses sufficient financial resources, sufficient managerial and professional experience, and that the proposed merger is in the public interest, the Superintendent [Commissioner] shall approve the application for an interstate merger transaction and for the operation of branches in a state other than the District by the District state bank.
(c) In reviewing the application, the Superintendent [Commissioner] shall consider the views of the state bank supervisor of the host state where the interstate merger transaction is to be consummated.
(d) If the Superintendent [Commissioner] fails to approve or disapprove an application within 30 days of receipt, the application shall be deemed approved. The Superintendent [Commissioner] may extend this 30-day review period for an additional 30 days upon a showing of good cause.
(e) A District state bank that establishes and maintains a branch in a state other than the District pursuant to an interstate merger transaction may exercise, at such branch, all rights and powers permitted to banks chartered by that state unless the Superintendent [Commissioner] determines that the exercise of such rights or powers would threaten the safety and soundness of the District state bank.
(June 13, 1996, D.C. Law 11-142, § 7, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-856.
Editor's Notes
Fees credited to the Office of Banking and Financial Institutions Enterprise Fund: Section 1804(3) of D.C. Law 12-60 provided that all fees received pursuant to § 26-856(b) 1981 Ed. shall be credited to the Office of Banking and Financial Institutions Enterprise Fund.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–737. Interstate merger transactions by an out-of-state bank with a District bank; retention of branches by resulting bank

§ 26–737. Interstate merger transactions by an out-of-state bank with a District bank; retention of branches by resulting bank.
(a) A District bank may engage with an out-of-state bank (“applicant”) in an interstate merger transaction where the resulting bank is not a District state bank. The resulting bank from such an interstate merger transaction may maintain and operate the branches in the District of the merged District bank, provided the applicant meets the following requirements:
(1) Submits to the Superintendent [Commissioner] a copy of the application it files with its home state regulator or with the federal banking agency in order to consummate such merger within the District;
(2) Pays a merger fee to be determined by the Superintendent [Commissioner]. This fee may be waived by the Superintendent [Commissioner] if the Superintendent [Commissioner] determines that the fee paid by the applicant in its home state is sufficient;
(3) Prior to consummation of such merger, obtains a certificate of authority to transact business in the District in accordance with § 29-101.99. The applicant shall be entitled to do so notwithstanding the exclusion of the business of banking under the terms of § 29-101.99(a); and
(4) In the case of an interstate merger transaction to be consummated prior to June 1, 1997, the laws of the home state of the applicant permit District banks to consummate interstate merger transactions in the home state under terms similar to those set forth in this subchapter.
(b) An out-of-state state bank that engages in an interstate merger transaction with a District bank and is the resulting bank may exercise at its branches in the District all rights and powers to be exercised by District state banks, unless the out-of-state state bank’s home state determines that the exercise of such rights or powers would threaten the safety and soundness of the out-of-state state bank.
(June 13, 1996, D.C. Law 11-142, § 8, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-857.
Editor's Notes
Fees credited to the Office of Banking and Financial Institutions Enterprise Fund: Section 1804(3) of D.C. Law 12-60 provided that all fees received pursuant to § 26-857(a)(2) 1981 Ed. shall be credited to the Office of Banking and Financial Institutions Enterprise Fund.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–738. Additional authority of Superintendent [Commissioner]

§ 26–738. Additional authority of Superintendent [Commissioner]
(a) The Superintendent [Commissioner] may conduct examinations of any branch of an out-of-state state bank established within the District pursuant to an interstate merger transaction to ensure that such branch is operating in a safe and sound manner and to ensure that such branch is in compliance with the laws of the District.
(b) The Superintendent [Commissioner] may require periodic reports from any branch of an out-of-state bank established within the District pursuant to an interstate merger transaction, including reports regarding any agency agreements entered into between a branch and a depository institution affiliate authorized and established pursuant to § 26-739, provided that the reports:
(1) Are similar to reports required from District banks by the Superintendent [Commissioner]; and
(2) Are not preempted by federal law.
(c) The Superintendent [Commissioner] may enter into cooperative agreements with any other state bank regulators for any legal purpose, including agreements for sharing of examination fees and other regulatory fees, in order to prevent duplication of regulatory functions and for the convenience and needs of the public.
(d) An out-of-state bank that has acquired a branch in the District pursuant to an interstate merger transaction may establish and maintain additional branches in the District to the same extent as a District state bank or to the extent otherwise permitted by federal law.
(June 13, 1996, D.C. Law 11-142, § 9, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-858.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–739. Establishment of agency agreements between affiliated depository institutions

§ 26–739. Establishment of agency agreements between affiliated depository institutions.
A District state bank that is a subsidiary of a bank holding company may agree to receive deposits, renew time deposits, close loans, service loans, receive payments on loans and other obligations, and perform such other services as the Superintendent [Commissioner] may determine are appropriate, as an agent for a depository institution affiliate.
(June 13, 1996, D.C. Law 11-142, § 10, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-859.
Section References
This section is referenced in § 26-735 and § 26-738.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–740. Enforcement

§ 26–740. Enforcement.
If the Superintendent [Commissioner] determines that any law of the District has been violated in the operation of a branch in the District of an out-of-state state bank, or that such branch is being operated in an unsafe or unsound manner pursuant to this subchapter, the Superintendent [Commissioner] shall have the authority to undertake such enforcement actions as it would be permitted to take if the branch were a District state bank.
(June 13, 1996, D.C. Law 11-142, § 11, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-860.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 7 - Interstate Banking and Branching › Subchapter II - Interstate Banking and Branching › § 26–741. Rules

§ 26–741. Rules.
(a) The Superintendent [Commissioner], pursuant to subchapter I of Chapter 5 of Title 2, shall issue rules to implement the provisions of this subchapter.
(b) The proposed rules shall be submitted to the Council for a 45-day period of review, excluding Saturdays, Sundays, legal holidays, and days of Council recess. If the Council does not approve or disapprove the proposed rules, in whole or in part, by resolution within this 45-day review period, the proposed rules shall be deemed approved.
(June 13, 1996, D.C. Law 11-142, § 12, 43 DCR 2159.)
Prior Codifications
1981 Ed., § 26-861.
Cross References
Banks organized under federal law, application of District law, see § 26-710.
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 8 - Joint Accounts; Adverse Claimants; Trust Accounts › § 26–801. Deposits or shares of stock in names of 2 or more persons; payments or deliveries; liability of bank

§ 26–801. Deposits or shares of stock in names of 2 or more persons; payments or deliveries; liability of bank.
Except as provided in §§ 19-602.21 to 19-602.26, when a deposit shall have been made in, or shall after May 15, 1928, be made in, or any collection item shall have been placed or shall after May 15, 1928, be placed with any bank, trust company, savings bank, building association, or other banking institution, including national banks, transacting business in the District of Columbia, or when any shares of stock shall have been issued or shall after May 15, 1928, be issued by any building association, transacting business in the District of Columbia, in the names of 2 or more persons, including spouses or domestic partners, payable to either, or payable to either or the survivor or survivors, such deposit, or in any part thereof, or any interest or dividend thereon, and such collection item or its proceeds, or any interest or dividend thereon, or such shares of stock issued by a building association or any interest or dividend thereon, may be paid or delivered to either of said persons whether the other or others be living or not; and the receipt or acquittance of the person to whom such payment or delivery is made shall be a valid, sufficient, and complete release and discharge of the bank, trust company, savings bank, building association, or other banking institution, including national banks, for any payment or delivery so made. For the purposes of this section, the term “domestic partner” shall have the same meaning as provided in § 32-701(3).
(May 15, 1928, 45 Stat. 533, ch. 568, § 1; Apr. 27, 2001, D.C. Law 13-292, § 303, 48 DCR 2087; Sept. 12, 2008, D.C. Law 17-231, § 25(a), 55 DCR 6758.)
Prior Codifications
1981 Ed., § 26-201.
1973 Ed., § 26-201.
Section References
This section is referenced in § 26-710.
Effect of Amendments
D.C. Law 13-292 substituted “Except as provided in §§ 19-602.21 to 19-602.26, when” for “When”.
D.C. Law 17-231 substituted “spouses or domestic partners” for “husband and wife”; and added “For the purposes of this section, the term ‘domestic partner’ shall have the same meaning as provided in § 32-701(3).”
2023 District of Columbia Code › Title 26 - Banks and Other Financial Institutions › Chapter 8 - Joint Accounts; Adverse Claimants; Trust Accounts › § 26–802. Property in boxes, vaults or held for safekeeping for 2 or more persons; right of access or delivery; liability of bank

§ 26–802. Property in boxes, vaults or held for safekeeping for 2 or more persons; right of access or delivery; liability of bank.
When a safety deposit box or vault shall have been hired from any bank, trust company, savings bank, building association, or other banking institution, including national banks, or any other corporation, transacting business in the District of Columbia, in the names of 2 or more persons, including spouses or domestic partners, with the right of access being given to either, or with access to either or the survivor or survivors of said persons, or property is held for safekeeping by any such bank, trust company, savings bank, building association, or other corporation or banking institution, including national banks, for 2 or more persons, including spouses or domestic partners, with the right of delivery being given to either, or with the right of delivery to either or the survivor or survivors of said persons, any one or more of such persons, whether the other or others be living or not, shall have the right of access to such safety deposit box or vault and to remove the contents thereof, or any part of such contents, or to have delivered to him or them, the property so held for safekeeping, or any part thereof, and in case of such removal or delivery the said bank, trust company, savings bank, building association, or other corporation or banking institution, including national banks, shall be exempt from any liability for permitting such access or removal or for the delivery to such person or persons. For the purposes of this section, the term “domestic partner” shall have the same meaning as provided in § 32-701(3).
(May 15, 1928, 45 Stat. 534, ch. 568, § 2; Sept. 12, 2008, D.C. Law 17-231,§ 25(b), 55 DCR 6758.)
Prior Codifications
1981 Ed., § 26-202.
1973 Ed., § 26-202.
Section References
This section is referenced in § 26-710.
Effect of Amendments
D.C. Law 17-231 substituted “spouses or domestic partners” for “husband and wife”; and added “For the purposes of this section, the term ‘domestic partner’ shall have the same meaning as provided in § 32-701(3).”