D.C. Mun. Regs. tit. 26, r. 26-C403
Upon the filing of a complete application under section 203 on Form 3 or section 204 on Form 5 of these rules, the procedures in subsections 403.2 through 403.8 of these rules shall apply.
A person, regional or nonregional bank holding company that seeks to acquire a District bank holding company or a District bank shall file a copy of the complete draft of the application required to be filed with the Federal Reserve Board no later than one hundred thirty (130) days prior to filing an application with the Federal Reserve Board for approval of an acquisition in accordance with 12 U.S.C. § 1842. An applicant may file an application with the Federal Reserve Board at any time subsequent to issuance of a final recommendation by the Commissioner.
The Commissioner shall make either a favorable or unfavorable recommendation on the application and explain the reasons for the recommendation, and shall transmit to the Council the recommendation, a copy of the application, and any other relevant information or submissions within sixty (60) days from the date of receipt of the application.
The Commissioner shall consider the following:
The Commissioner shall submit a copy of the final recommendation to the Federal Reserve Board.
The applicant shall include a copy of the Commissioner's final recommendation with its application to the Federal Reserve Board.
Any applicant which files an application with the Commissioner pursuant to this section shall also file, on the same day, a notification copy of the application with the Council.
Nothing in this section shall prohibit the applicant from resubmitting to the Commissioner a disapproved application. Any resubmitted application shall be considered in accordance with the procedures set forth in this section.
D.C. Mun. Regs. tit. 26, r. 26-C403