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

D.C. Code § 29-404.41: Compensation and other permitted payments.

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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 E. Financial Provisions.

(a)

A nonprofit corporation may pay reasonable compensation or reimburse reasonable expenses to members, directors, delegates, members of a designated body, or officers for services rendered.

(b)

A nonprofit corporation may confer benefits upon or make contributions to members or nonmembers in conformity with its purposes, repurchase its memberships only to the extent provided in § 29-404.22, or repay capital contributions, except when:

(1)

The corporation is currently insolvent or would thereby be made insolvent or rendered unable to carry on its purposes; or

(2)

The fair value of the assets of the corporation remaining after the conferring of benefits, contribution, repurchase, or repayment would be insufficient to meet its liabilities.

(c)

A nonprofit corporation may make distributions of cash or property to members upon dissolution or final liquidation only as permitted by this chapter.

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

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