District Of Columbia § 47-351.04 - Eligibility requirements; bidding; awards process.
Full text of District Of Columbia D.C. Code § 47-351.04 — Eligibility requirements; bidding; awards process., with citation guidance and answers to common questions.
§ 47-351.04. Eligibility requirements; bidding; awards process.
47-351.04To become eligible to submit a bid under this subsection:
An insured institution shall provide the Mayor, or the CFO pursuant to , with information from which the Mayor, or the CFO pursuant to , can calculate a community development score under . This information may include, but need not be limited to, current community development data, Community Reinvestment Act statement and evaluation with a minimum of “satisfactory” rating on its latest Community Reinvestment Act examination, and Home Mortgage Disclosure Act reports.
A noninsured institution shall submit to the Mayor, or the CFO pursuant to , a statement of Equal Employment Opportunity or Affirmative Action.
Each year the Mayor, or the CFO pursuant to , shall compile a list of eligible financial institutions that submit the information pursuant to the requirements of subsection (a) of this section.
The Mayor, or the CFO pursuant to , shall send the solicitations for bids to all financial institutions that are eligible. The Mayor, or the CFO pursuant to , shall remove from the eligible list those financial institutions that the Mayor, or the CFO pursuant to , has deemed to be financially unsound and those bidders that have put District funds at risk pursuant to .
In solicitations for bids, the Mayor, or the CFO pursuant to , shall include the following information:
In the case of deposits or investments:
The term of the deposit or investments;
The approximate amount available for deposit or investment;
The evaluation criteria; and
All other information required by the Mayor, or the CFO pursuant to , or that is necessary for compliance with this subchapter.
In the case of financial services:
A list of the financial services needed;
The evaluation criteria; and
All other information required by the Mayor, or the CFO pursuant to , or that is necessary for compliance with this subchapter.
The Mayor, or the CFO pursuant to , may solicit bids for either single financial services or groups of financial services.
If applicable, a bidder shall provide the following information in a bid:
The identity of the bidder;
The minimum and maximum amount of District funds the bidder will accept;
The rate of return;
The type of financial services to be provided and the cost to the District for the financial services;
The amount of the compensating balances, if any, and the rate of return on any deposit used for a compensating balance;
A description of the experience and capacity of the financial institution to perform the banking business for which the bid is submitted;
Information necessary to assess risk and liquidity; and
Any other information required by the Mayor, or the CFO pursuant to .
The Mayor, or the CFO pursuant to , shall make available to each bidder the notice of the bid award including the terms of the bid award.
Two or more eligible financial institutions may submit a joint bid.
The Mayor, or the CFO pursuant to , may at any time prior to the notice of award withdraw a bid solicitation for good cause. The Mayor, or the CFO pursuant to , shall notify any financial institution that has submitted a bid prior to the withdrawal of the bid solicitation.
The Mayor, or the CFO pursuant to , may retain or maintain deposits, investments, or financial services agreements at a financial institution which is a successor to the contractual agreement.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 47-351.04
What does D.C. Code § 47-351.04 cover?
Section 47-351.04 ("Eligibility requirements; bidding; awards process.") 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 § 47-351.04?
A common citation format is "D.C. Code § 47-351.04" (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 § 47-351.04 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.