When any court shall appoint the said company a trustee, receiver, personal representative, special administrator, or such guardian or committee, or shall order the deposit of money or other valuable with said company, or where any individual or corporation shall appoint any of said companies a trustee, executor, assignee, or such guardian, the capital stock of said company subscribed for or taken, and all property owned by said company, together with the liability of the stockholders and officers as herein provided, shall be taken and considered as the security required by law for the faithful performance of its duties, and shall be absolutely liable in case of any default whatever.
(Mar. 3, 1901, 31 Stat. 1305, ch. 854, § 724; June 24, 1980, D.C. Law 3-72, § 207(d), 27 DCR 2155.)
1981 Ed., § 26-412.
1973 Ed., § 26-312.
Structure District of Columbia Code
Title 26 - Banks and Other Financial Institutions
Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations
§ 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
§ 26–1309. Powers of companies; liability as trustee
§ 26–1310. Appointment 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
§ 26–1317. 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