District of Columbia § 26-634 Requirements for international banking corporation activities.

District of Columbia Statutes

§ 26-634 — Requirements for international banking corporation activities.

District of Columbia·Title 26 Banks and Other Financial Institutions.·Ch. 6A International Banking.

(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 act

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(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) .

District of Columbia § 26-634 (Requirements for international banking corporation activities.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.