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

D.C. Code § 29-404.03: Consideration.

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Where this section sits in the code
  1. Title 29. Business Organizations. [Enacted title]
  2. Chapter 4. Nonprofit Corporations.
  3. Subchapter IV. Memberships and Financial Provisions.
  4. Part A. Admission of Members.

Except as otherwise provided in its articles of incorporation or bylaws, a membership corporation may admit members for no consideration or for such consideration as is determined by the board of directors. The consideration may take any form, including promissory notes, intangible property, or past or future services. Payment of the consideration may be made at such times and upon such terms as are set forth in or authorized by the articles of incorporation, bylaws, or a resolution of the board.

Collected 2026-08-29T05:44:07Z. Source file · JSON

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