District of Columbia § 29-312.09 Director duties.

District of Columbia Statutes

§ 29-312.09 — Director duties.

District of Columbia § 29-312.09

JurisdictionDistrict of Columbia

Title 29Business Organizations. [Enacted title]

Ch. 3Business Corporations.

Subch. XIIDissolution.

Part AVoluntary Dissolution.

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Bluebook

D.C. Code § 29-312.09 (2026).

Text

(a)Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions of assets to shareholders after payment or provision for claims.

(b)Directors of a dissolved corporation which has disposed of claims under § 29-312.06 , § 29-312.07 , or § 29-312.08 shall not be liable for breach of subsection (a) of this section with respect to claims against the dissolved corporation that are barred or satisfied under § 29-312.06 , § 29-312.07 , or § 29-312.08 .

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(a) Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions of assets to shareholders after payment or provision for claims.

(b) Directors of a dissolved corporation which has disposed of claims under § 29-312.06 , § 29-312.07 , or § 29-312.08 shall not be liable for breach of subsection (a) of this section with respect to claims against the dissolved corporation that are barred or satisfied under § 29-312.06 , § 29-312.07 , or § 29-312.08 .