Statutes > District of Columbia Statutes > Division V - Local Business Affairs (TITLE 25 to TITLE 37) > TITLE 26 - BANKS AND OTHER FINANCIAL INSTITUTIONS (Chapter 1 to Chapter 14) > Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations (Subchapter I and Subchapter II) > Subchapter I - General (Section 26-1301 to Section 26-1336) > Section 26-1328 - Liability of directors or trustees on declaration of dividends-Exemption

Section 26-1328 - Liability of directors or trustees on declaration of dividends-Exemption

Liability of directors or trustees on declaration of dividends-Exemption

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.

CREDIT(S)

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

HISTORICAL AND STATUTORY NOTES

Prior Codifications
1981 Ed., § 26-428.
1973 Ed., § 26-328.

Current through September 13, 2012