§ 29-201.03 — Relationship of chapter to other laws.

District of Columbia § 29-201.03

• Jurisdiction: District of Columbia
• Title 29: Business Organizations. [Enacted title]
• Ch. 2: Entity Transactions.
• Subch. I: General Provisions.

Text

(a) Unless displaced by particular provisions of this chapter, the principles of law and equity supplement this chapter.

(b) This chapter shall not authorize an act prohibited by, and does not affect the application or requirements of, law other than this chapter.

(c) A transaction effected under this chapter shall not create or impair any right or obligation on the part of a person under a provision of the law of the District other than this chapter relating to a change in control, takeover, business combination, control-share acquisition, or similar transaction involving a domestic merging, acquired, converting, or domesticating corporation unless:

(1) If the corporation does not survive the transaction, the transaction satisfies any requirements of the provision; or

(2) If the corporation survives the transaction, the approval of the plan is by a vote of the shareholders or directors which would be sufficient to create or impair the right or obligation directly under the provision.

Legislative History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720