(a) Unless the articles of incorporation or bylaws provide otherwise, the board of directors of a corporation may authorize the issue of some or all of the shares of any or all of its classes or series without certificates. The authorization shall not affect shares already represented by certificates until they are surrendered to the corporation.
(b) Within a reasonable time after the issue or transfer of shares without certificates, the corporation shall send the shareholder a written statement of the information required on certificates by § 29-304.25(b) and (c), and, if applicable, § 29-304.27.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
This section is referenced in § 29-304.27 and § 29-305.42.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 3 - Business Corporations
Subchapter IV - Shares and Distributions
§ 29–304.20. Subscription for shares before incorporation
§ 29–304.21. Issuance of shares
§ 29–304.22. Liability of shareholders
§ 29–304.25. Form and content of certificates
§ 29–304.26. Shares without certificates
§ 29–304.27. Restriction on transfer of shares and other securities