District of Columbia § 26-1304 Organization certificate; execution; contents.

District of Columbia Statutes

§ 26-1304 — Organization certificate; execution; contents.

District of Columbia·Title 26 Banks and Other Financial Institutions.·Ch. 13 Trust, Loan, Mortgage, Safe Deposit and Title Corporations.·Subch. I General.

The persons referred to in § 26-1301 shall, under their hands and seals, execute before some officer in said District competent to take the acknowledgment of deeds, an organization certificate, which shall specifically state:

(1)The name of the corporation;

(2)The purposes for which it is formed;

(3)The term for which it is to exist, which shall not exceed the term of 50 years, and be subject to alteration, amendment, or repeal by Congress at any time;

(4)The number of its directors and the names and residences of the officers who for the first year are to manage the affairs of the company; and

(5)The amount of its capital stock and its subdivision into shares.

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The persons referred to in § 26-1301 shall, under their hands and seals, execute before some officer in said District competent to take the acknowledgment of deeds, an organization certificate, which shall specifically state:

(1) The name of the corporation;

(2) The purposes for which it is formed;

(3) The term for which it is to exist, which shall not exceed the term of 50 years, and be subject to alteration, amendment, or repeal by Congress at any time;

(4) The number of its directors and the names and residences of the officers who for the first year are to manage the affairs of the company; and

(5) The amount of its capital stock and its subdivision into shares.

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