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Non-chartered financial institutions as defined in Section 2-2 of this Ordinance are subject to the following regulations:

A. GENERAL REQUIREMENTS.

1. An application for the establishment of a non-chartered financial institution must be submitted, reviewed and approved by the Community Development Director or his designee prior to the issuance of a Zoning Clearance by the City for the proposed establishment.

2. A proposed non-chartered financial institution shall not be located within 1,320 horizontal feet (one-quarter (1/4) mile) as measured in a straight line in any direction from the building in which any other non-chartered financial institution is located.