Requirements for international banking corporation activities. (a) An international banking corporation may transact a banking business, or maintain in the District of Columbia an office for carrying on such business, or any part thereof, if the corporation has: (1) Been authorized by its charter to carry on a banking business and has complied with the laws of the jurisdiction in which it is chartered; (2) Furnished to the Department such proof as to the nature and character of its business and as to its financial condition as the Department may require; (3) Filed with the Department a certified copy of any information required to be supplied to the District of Columbia by a foreign corporation under § 29-101.99; and (4) Been licensed by the Department. (b) An international banking corporation may engage in representational and other activities in the District of Columbia, other than those specified in § 26-635, only as authorized in § 26-636. (c) Any person who establishes or maintains an office or transacts business in the District of Columbia in violation of this section shall be subject to the penalties imposed by § 26-103(g). (Apr. 3, 2001, D.C. son who establishes or maintains an office or transacts business in the District of Columbia in violation of this section shall be subject to the penalties imposed by § 26-103(g). (Apr. 3, 2001, D.C. Law 13-268, § 5, 48 DCR 1251.) Section References This section is referenced in § 26-635.
District of Columbia Legal Code