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D.C. Code § 47-351.05

Competition for banking business.

Official textus-dc/statcode.dccouncil.gov
Summarize

# (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.

Source: official DC Code section page (code.dccouncil.gov)

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In this chapter (40 sections)
  1. 47-340.32 · Financing and closing documents.
  2. 47-340.33 · Limited liability.
  3. 47-340.34 · District officials.
  4. 47-340.35 · Maintenance of documents.
  5. 47-340.36 · Information reporting.
  6. 47-341 · Definitions.
  7. 47-342 · Mayor to invest or deposit certain funds.
  8. 47-343 · Selection of depositories and investments.
  9. 47-344 · Ranking of depositories; qualifying loans; information…
  10. 47-345 · Limitation on amount.
  11. 47-345.01 · Cashing government checks of District residents required.
  12. 47-346 · Required collateral and financial information.
  13. 47-347 · Public disclosure of certain information; required reports by…
  14. 47-348 · Termination of depositories or refusal of contracts; immediate…
  15. 47-349 · Powers of Mayor and District of Columbia Auditor;…
  16. 47-350 · Authorized staff for District of Columbia Auditor and…
  17. 47-351.01 · Definitions.
  18. 47-351.02 · Powers of the Mayor.
  19. 47-351.03 · General deposit and investment requirements.
  20. 47-351.04 · Eligibility requirements; bidding; awards process.
  21. 47-351.05 · Competition for banking business.
  22. 47-351.06 · Financial score.
  23. 47-351.07 · Community development score.
  24. 47-351.08 · Collateral and reporting requirements.
  25. 47-351.09 · Linked deposits for community development lending.
  26. 47-351.10 · Preservation of banking services.
  27. 47-351.11 · District funds reserved for certain insured institutions.
  28. 47-351.12 · Public disclosure.
  29. 47-351.13 · Protection of District funds at risk.
  30. 47-351.14 · Check cashing; identification.
  31. 47-351.15 · Penalties.
  32. 47-351.16 · Rulemaking.
  33. 47-355.01 · Definitions.
  34. 47-355.02 · Limitations on expenditures and obligating amounts.
  35. 47-355.03 · Reporting requirements of managers.
  36. 47-355.04 · Reporting requirements of agency heads and chief financial…
  37. 47-355.05 · Reporting requirements of the Chief Financial Officer and…
  38. 47-355.06 · Penalties.
  39. 47-355.07 · Board of Review for Anti-Deficiency Violations.
  40. 47-355.08 · Notice requirement.
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