District Of Columbia § 47-351.11 - District funds reserved for certain insured institutions.
Full text of District Of Columbia D.C. Code § 47-351.11 — District funds reserved for certain insured institutions., with citation guidance and answers to common questions.
§ 47-351.11. District funds reserved for certain insured institutions.
47-351.11Without regard to the competitive bidding requirements of §§ and , the Mayor, or the CFO pursuant to , may reserve up to 10% of District funds available for deposit or investment in order to make an investment or a deposit with one or more insured financial institutions located in the District that have less than $550 million in assets. The amount available for deposit or investment is to be calculated based upon the prior year’s average investment balance. In selecting an insured financial institution under this section, the Mayor, or the CFO pursuant to , shall follow the provisions of and shall encourage the use of women-owned banks and federally or District chartered minority-owned banks certified by the Small and Local Business Opportunity Commission in accordance with [subchapter IX-A of ]. The amount of District funds deposited in any such institution shall not exceed the federally insured amount, unless the amount of District funds deposited that exceed the federally insured amount meet the collateral requirements set forth in and the permitted investment instrument provisions set forth in .
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 47-351.11
What does D.C. Code § 47-351.11 cover?
Section 47-351.11 ("District funds reserved for certain insured institutions.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 47-351.11?
A common citation format is "D.C. Code § 47-351.11" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 47-351.11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.