Protection of District funds at risk.

(a) The Mayor, or the CFO pursuant to § 47-351.02(c) , may take the action provided for in subsection (b) of this section to protect District funds if:

(1) A financial institution fails to return a deposit upon demand or upon the termination of or pursuant to the terms of an agreement;

(2) A financial institution fails to pay a valid check, draft, or warrant issued by the Mayor, or the CFO pursuant to § 47-351.02(c) ;

(3) A financial institution fails to honor a request for the electronic transfer of District funds;

(4) A financial institution fails to account for a check, draft, warrant, order, deposit, certificate, or money that the District entrusts to it;

(5) A financial institution fails to return an investment under the terms of an agreement or upon the termination of an agreement;

(6) A financial institution fails to perform under the terms of an agreement involving banking business;

(7) A financial institution fails to maintain the required collateral pursuant to § 47-351.08 ;

(8) A court or a federal, District, or state banking regulator orders a financial institution to refrain from making payments on its liabilities;

(9) A court or a federal, District, or state banking regulator appoints a conservator or receiver for the financial institution;

(10) The Mayor, or the CFO pursuant to § 47-351.02(c) , determines that the financial institution is financially unsound;

(11) A financial institution fails to comply with this subchapter; or

(12) Any other action has occurred or is impending which the Mayor, or the CFO pursuant to § 47-351.02(c) , decides would place District funds in jeopardy.