District of Columbia Code
Part E - Financial Provisions
§ 29–404.40. Distributions prohibited

(a) Except as permitted under § 29-404.22 or § 29-404.41, a nonprofit corporation shall not pay dividends or make distributions of any part of its assets, income, or profits to its members, directors, delegates, members of a designated body, or officers.
(b) This section shall not apply to a contract or transaction authorized pursuant to § 29-406.70.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)

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Structure District of Columbia Code

District of Columbia Code

Title 29 - Business Organizations. [Enacted title]

Chapter 4 - Nonprofit Corporations

Subchapter IV - Memberships and Financial Provisions

Part E - Financial Provisions

§ 29–404.40. Distributions prohibited

§ 29–404.41. Compensation and other permitted payments

§ 29–404.42. Debt and security interests

§ 29–404.43. Private foundations