District of Columbia § 29-921 Referendum on acts of directors.

District of Columbia Statutes

§ 29-921 — Referendum on acts of directors.

District of Columbia § 29-921

Title 29Business Organizations. [Enacted title]

Ch. 9General Cooperative Associations.

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Bluebook

D.C. Code § 29-921 (2026).

Text

The articles or bylaws may provide that, within a specified period of time, any action taken by the directors shall be referred to the members for approval or disapproval if demanded by petition of at least 10% of all the members or by vote of at least a majority of the directors; provided, that the rights of third parties which have vested between the time of such action and such referendum shall not be impaired thereby.

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The articles or bylaws may provide that, within a specified period of time, any action taken by the directors shall be referred to the members for approval or disapproval if demanded by petition of at least 10% of all the members or by vote of at least a majority of the directors; provided, that the rights of third parties which have vested between the time of such action and such referendum shall not be impaired thereby.