District of Columbia Code
Subchapter I - General
§ 26–1305. Charter of incorporation — Power of Council to grant or refuse

This certificate shall be presented to the Council of the District of Columbia, which shall have power and discretion to grant or refuse to said persons a charter of incorporation upon the terms set forth in the said certificate and the provisions of this chapter.
(Mar. 3, 1901, 31 Stat. 1303, ch. 854, § 717.)
1981 Ed., § 26-405.
1973 Ed., § 26-305.
This section originated at a time when local government powers were delegated to a Board of Commissioners of the District of Columbia (see Acts Relating to the Establishment of the District of Columbia and its Various Forms of Governmental Organization in Volume 1). Section 402(223) of Reorganization Plan No. 3 of 1967 (see Reorganization Plans in Volume 1) transferred all of the functions of the Board of Commissioners under this section to the District of Columbia Council, subject to the right of the Commissioner as provided in § 406 of the Plan. The District of Columbia Self-Government and Governmental Reorganization Act, 87 Stat. 818, § 711 ( D.C. Code, § 1-207.11), abolished the District of Columbia Council and the Office of Commissioner of the District of Columbia. These branches of government were replaced by the Council of the District of Columbia and the Office of Mayor of the District of Columbia, respectively. Accordingly, and also pursuant to § 714(a) of such Act ( D.C. Code, § 1-207.14(a)), appropriate changes in terminology were made in this section.

Structure District of Columbia Code

District of Columbia Code

Title 26 - Banks and Other Financial Institutions

Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations

Subchapter I - General

§ 26–1301. Manner of formation; purposes

§ 26–1304. Organization certificate; execution; contents

§ 26–1305. Charter of incorporation — Power of Council to grant or refuse

§ 26–1306. Charter of incorporation — Notice of application

§ 26–1307. Charter of incorporation — Recording; certificate to be obtained from Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking]

§ 26–1308. Reports to Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking]

§ 26–1309. Powers of companies; liability as trustee

§ 26–1310. Appointment as fiduciary

§ 26–1311. Oath as fiduciary

§ 26–1311.01. Automatic substitution of fiduciaries

§ 26–1312. Stock, property, and liability to be security when fiduciary

§ 26–1313. Existing companies; certificate of intention to comply with provisions

§ 26–1314. Real property held and conveyed by companies

§ 26–1315. Duration of charter

§ 26–1316. Capital stock — Amount; payment; deposit with Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking]

§ 26–1317. Capital stock — Calls; sale on failure to pay money subscribed

§ 26–1318. Annual reports — Publication; contents; verification

§ 26–1319. Annual reports — Liability of directors or trustees

§ 26–1320. Wilful false swearing; misappropriation

§ 26–1321. Stock deemed personal estate; transfer; contents of certificates

§ 26–1322. Liability of stockholders

§ 26–1323. Payment of stock to be in money only; exception

§ 26–1324. Election of, and management of company by, directors or trustees

§ 26–1325. Officers; security authorized

§ 26–1326. Power to make bylaws; purposes thereof

§ 26–1327. Liability of directors or trustees on declaration of dividends — Conditions

§ 26–1328. Liability of directors or trustees on declaration of dividends — Exemption

§ 26–1329. Directors or trustees personally liable when liabilities exceed assets

§ 26–1330. Fiduciary not liable as stockholder; liability of estate and funds

§ 26–1331. Increase or decrease of capital stock

§ 26–1332. Copy of certificate as evidence

§ 26–1333. Security required for performance of fiduciary duties; liability thereon

§ 26–1334. Powers of probate court

§ 26–1335. Compliance required of foreign corporations or companies

§ 26–1336. Right of Congress to amend or repeal chapter; remedies preserved