District of Columbia Statutes
§ 26-1329 — Directors or trustees personally liable when liabilities exceed assets.
District of Columbia·Title 26 Banks and Other Financial Institutions.·Ch. 13 Trust, Loan, Mortgage, Safe Deposit and Title Corporations.·Subch. I General.
If the liabilities of any company shall at any time exceed the amount of the fair cash value of the assets, the directors or trustees of such company assenting thereto shall be personally and individually liable for such excess to the creditors of the company, after the additional liability of the stockholders has been enforced.
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Legislative History
Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 741
Nearby Sections
15
§ 26-1001
Definitions.§ 26-1002
License required.§ 26-1003
Exemptions.§ 26-1004
License qualifications.§ 26-1006
License application.§ 26-1007
Bond or other security device.§ 26-1008
Application fee.§ 26-1009
Issuance of license.§ 26-1011
Special reporting requirements.§ 26-1012
Changes in control of a licensee.§ 26-1013
Examinations.§ 26-1014
Maintenance of records.