D.C. Code § 29-1125: Winding up and termination.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 11. Unincorporated Nonprofit Associations.
Winding up and termination of an unincorporated nonprofit association shall proceed in accordance with the following rules:
(1)
All known debts and liabilities shall be paid or adequately provided for.
(2)
Any property subject to a condition requiring return to the person designated by the donor shall be transferred to that person.
(3)
Any property subject to a trust shall be distributed in accordance with the trust agreement.
(4)
Any remaining property shall be distributed as follows:
(A)
As required by law other than this chapter that requires assets of an association to be distributed to another person with similar nonprofit purposes;
(B)
In accordance with the association’s governing principles or, in the absence of applicable governing principles, to the members of the association per capita or as the members direct; or
(C)
If subparagraph (A) or (B) of this paragraph does not apply, in accordance with the law of unclaimed property in the District.
Collected 2026-08-29T05:44:07Z. Source file · JSON