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The DC Code: § 47-351.10 Preservation of banking services.

Index47 Taxation, Licensing, Permits, Assessments, and Fees. (Refs & Annos)
a
Without regard to the competitive bidding requirements of §§ 47-351.04 and 47-351.05, the Mayor, or the CFO pursuant to § 47-351.02(c), may place deposits or investments at an insured financial institution for the purpose of maintaining banking services in a low-to-moderate income area in the District.
b
If the Mayor, or the CFO pursuant to § 47-351.02(c), waives the requirements of §§ 47-351.04 and 47-351.05, the Mayor, or the CFO pursuant to § 47-351.02(c), shall execute a community development program agreement with the insured financial institution or certify that the insured financial institution is meeting the objectives of an existing community development program.
c
For the purposes of this section only, a community development program agreement shall meet the requirements of § 26-704(d).

Historical and Statutory

Prior Codifications 1981 Ed., § 47-351.10. Emergency Act Amendments See Historical and Statutory Notes following § 47-351.01. Legislative History of Laws For legislative history of D.C. Law 12-56, see Historical and Statutory Notes following § 47-351.01. DC CODE § 47-351.10 Current through December 11, 2012

Credits

(Mar. 18, 1998, D.C. Law 12-56, § 2(c), 44 DCR 6933.)