(a) The return upon capital shall not exceed 6% per annum upon the paid-up capital and shall be noncumulative.
(b) Total return upon capital distributed for any single period shall not exceed 50% of the net savings for that period.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
2001 Ed., § 29-922.
1981 Ed., § 29-1122.
1973 Ed., § 29-822.
This section is referenced in § 29-931.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 9 - General Cooperative Associations
§ 29–904. Purposes for incorporation
§ 29–905. Powers of association
§ 29–906. Articles of incorporation — Contents
§ 29–908. Bylaws; adoption, amendment, or repeal
§ 29–910. Meetings; regular and special
§ 29–911. Meetings; regular and special — Notice
§ 29–912. Meetings; regular and special — Units of membership
§ 29–913. Voting — Number permitted by each member
§ 29–914. Voting — Proxy prohibited
§ 29–915. Voting — By mail or by electronic mail
§ 29–916. Voting provisions — Application to voting by mail or electronic mail
§ 29–917. Voting provisions — Application to voting by delegates
§ 29–920. Removal of directors and officers; vote required for approval; vacancies
§ 29–921. Referendum on acts of directors
§ 29–922. Limitations upon the return on capital
§ 29–923. Eligibility and admission to membership
§ 29–925. Share and membership certificates; issuance and contents
§ 29–926. Transfer of shares and memberships; withdrawal
§ 29–927. Share and membership certificates — Recall
§ 29–928. Share and membership certificates — Exemption for attachment, execution and garnishment
§ 29–929. Liability of members
§ 29–930. Expulsion of members; procedure; purchase of holdings
§ 29–931. Allocation and distribution of net savings
§ 29–932. Bonding of officers and employees
§ 29–934. Dissolution; methods; vote required for approval; distribution of assets
§ 29–936. Foreign corporations and associations; admission to do business
§ 29–937. Compliance with chapter; not in restraint of trade
§ 29–938. Chapter 3 of this title applicable to associations