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District of Columbia Code Division V. Local Business Affairs § 26-634. Requirements for international banking corporation activities.

Current as of January 01, 2024 | Updated by Findlaw Staff

(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).

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Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 26-634. Requirements for international banking corporation activities. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-26-634/

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