District of Columbia Statutes
§ 31-4427 — Salaries to be authorized by directors.
No domestic company shall pay any salary, compensation, or emolument to any officer, trustee, or director thereof, amounting in any 1 year to more than $5,000, unless such payment shall be authorized by the board of directors of the company.
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Legislative History
June 19, 1934, 48 Stat. 1151, ch. 672, ch. III, § 27
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