District of Columbia § 29-410.01 Disposition of assets not requiring member approval.

District of Columbia Statutes

§ 29-410.01 — Disposition of assets not requiring member approval.

District of Columbia § 29-410.01

Title 29Business Organizations. [Enacted title]

Ch. 4Nonprofit Corporations.

Subch. XDisposition of Assets.

This text of District of Columbia § 29-410.01 (Disposition of assets not requiring member approval.) 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 § 29-410.01 (2026).

Text

Approval of the members of a nonprofit corporation shall not be required, unless the articles of incorporation or bylaws otherwise provide, to:

(1)Sell, lease, exchange, or otherwise dispose of any or all of the corporation’s assets:

(A)In the usual and regular course of its activities; or

(B)If the corporation and its consolidated subsidiaries retain an activity that represented or was supported by at least 33% of total assets at the end of the most recently completed fiscal year;

(2)Mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber any or all of the corporation’s assets, whether or not in the usual and regular course of business its [sic] activities; or

(3)Transfer any or all of the corporation’s assets to o

Free access — add to your briefcase to read the full text and ask questions with AI

Approval of the members of a nonprofit corporation shall not be required, unless the articles of incorporation or bylaws otherwise provide, to:

(1) Sell, lease, exchange, or otherwise dispose of any or all of the corporation’s assets:

(A) In the usual and regular course of its activities; or

(B) If the corporation and its consolidated subsidiaries retain an activity that represented or was supported by at least 33% of total assets at the end of the most recently completed fiscal year;

(2) Mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber any or all of the corporation’s assets, whether or not in the usual and regular course of business its [sic] activities; or

(3) Transfer any or all of the corporation’s assets to one or more corporations or other entities all of the memberships or interests of which are owned by the corporation.