§ 29-406.40 — Officers.

District of Columbia § 29-406.40

• Jurisdiction: District of Columbia
• Title 29: Business Organizations. [Enacted title]
• Ch. 4: Nonprofit Corporations.
• Subch. VI: Directors, Officers, and Employees.
• Part D: Officers.

Text

(a) The officers of a nonprofit corporation shall be the individuals who hold the offices described in its articles of incorporation or bylaws or are appointed or elected in accordance with the articles and bylaws or as authorized by the board of directors. At a minimum, a nonprofit corporation shall have 2 separate officers, one responsible for the management of the corporation, who may be referred to as the “President” or by any other term used in its articles of incorporation or bylaws and another responsible for the financial affairs of the corporation, who may be referred to as the “Treasurer”, or by any other term used in its articles of incorporation or bylaws.

(b) The articles of incorporation or bylaws or the board of directors shall assign to one of the officers responsibility for preparing or supervising the preparation of the minutes of the meetings of the board of directors and the members, if any, and for maintaining and authenticating the records of the corporation required to be kept under § 29-413.01(a) and (e).

(c) The same individual may simultaneously hold more than one office in a nonprofit corporation.

Legislative History

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