{"data":{"id":"us-dc/d.c.-code-29-304.04","jurisdiction":"us-dc","citation":"D.C. Code § 29-304.04","heading":"Fractional shares.","body":"(a)\nA corporation may:\n(1)\nIssue fractions of a share or pay, in money, the value of fractions of a share;\n(2)\nArrange for disposition of fractional shares by the shareholders; or\n(3)\nIssue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share.\n\n(b)\nEach certificate representing scrip shall be conspicuously labeled “scrip” and shall contain the information required by § 29-304.25(b).\n\n(c)\nThe holder of a fractional share shall be entitled to exercise the rights of a shareholder, including the right to vote, to receive dividends, and to participate in the assets of the corporation upon liquidation. The holder of scrip shall not be entitled to any of these rights unless the scrip provides for them.\n\n(d)\nThe board of directors may authorize the issuance of scrip subject to any condition considered desirable, including that the:\n(1)\nScrip will become void if not exchanged for full shares before a specified date; and\n(2)\nShares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 3. Business Corporations.","Subchapter IV. Shares and Distributions.","Part A. Shares."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-304.04","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"d5d3f6fdcd6613358c756e80555b401db4354adf510955b542d6b48d2858b607","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-304.03","next":"us-dc/d.c.-code-29-304.20"},"notice":"GroundRules: Original legal text. Not legal advice."}