Code of the District of Columbia

§ 26–634. 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).