{"data":{"id":"us-dc/d.c.-code-29-306.01","jurisdiction":"us-dc","citation":"D.C. Code § 29-306.01","heading":"Requirement for and functions of board of directors.","body":"(a)\nExcept as otherwise provided in § 29-305.42, each corporation shall have a board of directors.\n\n(b)\nAll corporate powers shall be exercised by or under the authority of the board of directors of the corporation and the activities and affairs of the corporation shall be managed by or under the direction, and subject to the oversight, of its board of directors, subject to any limitation set forth in the articles of incorporation or in an agreement authorized under § 29-305.42.\n\n(c)\nIn the case of a public corporation, the board’s oversight responsibilities shall include attention to:\n(1)\nBusiness performance and plans;\n(2)\nMajor risks to which the corporation is or may be exposed;\n(3)\nThe performance and compensation of senior officers;\n(4)\nPolicies and practices to foster the corporation’s compliance with law and ethical conduct;\n(5)\nPreparation of the corporation’s financial statements;\n(6)\nThe effectiveness of the corporation’s internal controls;\n(7)\nArrangements for providing adequate and timely information to directors; and\n(8)\nThe composition of the board and its committees, taking into account the important role of independent directors.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 3. Business Corporations.","Subchapter VI. Directors and Officers.","Part A. Board of Directors."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-306.01","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"06aafa098a02bc708e100b3140672b6795267e8fda825dd137c75bfe95d70eae","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-305.70","next":"us-dc/d.c.-code-29-306.02"},"notice":"GroundRules: Original legal text. Not legal advice."}