{"data":{"id":"us-dc/d.c.-code-29-1010.08","jurisdiction":"us-dc","citation":"D.C. Code § 29-1010.08","heading":"Liability for improper distributions; limitation of action.","body":"(a)\nExcept as otherwise provided in subsection (b) of this section, if a director of a limited cooperative association consents to a distribution made in violation of § 29-1010.07 and in consenting to the distribution fails to comply with § 29-1008.18, the director is personally liable to the association for the amount of the distribution that exceeds the amount which could have been distributed without violating § 29-1010.07.\n\n(b)\nA person that receives a distribution knowing that the distribution was made in violation of § 29-1010.07 shall be personally liable to the limited cooperative association to the extent the distribution exceeded the amount that could have been properly paid.\n\n(c)\nA director against whom an action is commenced under subsection (a) of this section may implead in the action any:\n(1)\nOther person who is liable under subsection (a) of this section and seek to enforce a right of contribution from the person; and\n(2)\nPerson that receives a distribution in violation of subsection (b) of this section and may seek to enforce a right of contribution from the person in the amount the person received in violation [of] subsection (b) of this section.\n\n(d)\nAn action under this section shall be barred if it is commenced later than 2 years after the distribution.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 10. Limited Cooperative Associations.","Subchapter X. Contributions, Allocations, and Distributions."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-1010.08","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"602e9df728d24c1bc879631a6f1228457b2c4d857e623e6dd1ff62c6025b58bf","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-1010.07","next":"us-dc/d.c.-code-29-1011.01"},"notice":"GroundRules: Original legal text. Not legal advice."}