District of Columbia § 26-1319 Annual reports — Liability of directors or trustees.

District of Columbia Statutes

§ 26-1319 — Annual reports — Liability of directors or trustees.

District of Columbia § 26-1319

Title 26Banks and Other Financial Institutions.

Ch. 13Trust, Loan, Mortgage, Safe Deposit and Title Corporations.

Subch. IGeneral.

This text of District of Columbia § 26-1319 (Annual reports — Liability of directors or trustees.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 26-1319 (2026).

Text

If any company fails to comply with the provisions of § 26-1318 , all the directors or trustees of such company shall be jointly and severally liable for the debts of the company then existing and for all that shall be contracted before such report shall be made; provided, that in case of failure of the company in any year to comply with the provisions of § 26-1318 , and any of the directors shall, on or before January 15th of such year, file his written request for such compliance with the secretary of the company, the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking], and the Recorder of Deeds of the District of Columbia, such director shall be exempt from the liability prescribed in this section.

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If any company fails to comply with the provisions of § 26-1318 , all the directors or trustees of such company shall be jointly and severally liable for the debts of the company then existing and for all that shall be contracted before such report shall be made; provided, that in case of failure of the company in any year to comply with the provisions of § 26-1318 , and any of the directors shall, on or before January 15th of such year, file his written request for such compliance with the secretary of the company, the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking], and the Recorder of Deeds of the District of Columbia, such director shall be exempt from the liability prescribed in this section.