Liability of directors or trustees on declaration of dividends — Exemption

  1. Law
  2. District of Columbia Code
  3. Banks and Other Financial Institutions
  4. Trust, Loan, Mortgage, Safe Deposit and Title Corporations
  5. General
  6. Liability of directors or trustees on declaration of dividends — Exemption

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If any of the directors or trustees shall object to declaring such dividends or the payment of the same, and shall at any time before the time fixed for the payment thereof file a certificate of their objection in writing with the secretary of the company and with the Recorder of Deeds of the District, they shall be exempt from the liability prescribed in § 26-1327.

(Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 740.)

Prior Codifications

1981 Ed., § 26-428.

1973 Ed., § 26-328.


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