On any matter that is to be acted on by trustees, the following rules apply:
(1) The trustees shall act by majority of the trustees.
(2) The trustees may act without a meeting, without previous notice, and without a vote, if the minimum number of trustees necessary to authorize or take the action at a meeting at which all trustees entitled to vote thereon were present and voted consent in a signed record. However, prompt notice of the action shall be given to those trustees that did not consent.
(3) A trustee may vote in person or by proxy, but, if by proxy, the proxy shall be in a signed record.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Uniform Law: This section is based on § 503 of the Uniform Statutory Trust Entity Act.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Subchapter V - Trustees and Trust Management
§ 29–1205.01. Management of statutory trust
§ 29–1205.03. Action by trustees
§ 29–1205.04. Protection of person dealing with trustee
§ 29–1205.05. Standards of conduct for trustees
§ 29–1205.06. Reasonable reliance
§ 29–1205.07. Interested transactions
§ 29–1205.08. Trustee’s right to information
§ 29–1205.09. Reimbursement, indemnification, advancement, and exoneration
§ 29–1205.10. Direction of trustees
§ 29–1205.11. Delegation by trustee
§ 29–1205.12. Independent trustee in registered investment company