D.C. Code § 29-1008.03: Qualifications of directors.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 10. Limited Cooperative Associations.
- Subchapter VIII. Directors and Officers.
(a)
Unless the organic rules otherwise provide, and subject to subsection (c) of this section, each director of a limited cooperative association shall be an individual who is a member of the association or an individual who is designated by a member that is not an individual for purposes of qualifying and serving as a director. Initial directors need not be members.
(b)
Unless the organic rules otherwise provide, a director may be an officer or employee of the limited cooperative association.
(c)
If the organic rules provide for nonmember directors, the number of nonmember directors shall not exceed:
(1)
One, if there are 2 through 4 directors;
(2)
Two, if there are 5 through 8 directors; or
(3)
One-third of the total number of directors if there are at least 9 directors.
(d)
The organic rules may provide qualifications for directors in addition to those in this section.
Collected 2026-08-29T05:44:07Z. Source file · JSON