(a) An international banking corporation having an office in the District of Columbia shall be subject to all the provisions of the District of Columbia Banking Code as though the international banking corporation is a bank organized under the laws of the District of Columbia, except where it may appear, from the context or otherwise, that such provisions are clearly applicable only to banks or trust companies organized under the laws of the District of Columbia.
(b) An international banking corporation may conduct its banking business in the District of Columbia with the same, but no greater, rights and privileges as a District of Columbia bank, and except as otherwise provided in this chapter, subject to the same duties, restrictions, penalties, and liabilities now or hereafter imposed under the District of Columbia Banking Code upon a District of Columbia bank.
(Apr. 3, 2001, D.C. Law 13-268, § 4, 48 DCR 1251.)
This section is referenced in § 26-636.
Structure District of Columbia Code
Title 26 - Banks and Other Financial Institutions
Chapter 6A - International Banking
§ 26–632. Construction of legal and financial terms used in chapter
§ 26–633. Application of the District of Columbia Banking Code
§ 26–634. Requirements for international banking corporation activities
§ 26–635. Scope of license; permissible activities of international banking corporations
§ 26–636. Applications for licenses; approval or disapproval
§ 26–637. Registered office and agent
§ 26–638. Assets to be held in the District of Columbia
§ 26–639. Financial certification; restrictions on investments, loans, and acceptances
§ 26–641. Examinations; enforcement powers; fees and assessments
§ 26–642. Voluntary dissolutions; involuntary dissolutions and liquidations