05. Competition for banking business. (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. (Mar. 18, 1998, D.C. Law 12-56, § 2(c), 44 DCR 6933.) Prior Codifications 1981 Ed., § 47-351.5. Section References This section is referenced in § 47-351.10 and § 47-351.11. Emergency Legislation See Historical and Statutory Notes following § 47-351.01.
District of Columbia Legal Code