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District of Columbia · Through 2026-08-20 (D.C. Law 26-175)

D.C. Code § 29-1008.03: Qualifications of directors.

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Where this section sits in the code
  1. Title 29. Business Organizations. [Enacted title]
  2. Chapter 10. Limited Cooperative Associations.
  3. 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

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