The holdings of any member of an association, to the extent of the minimum amount necessary for membership, but not to exceed $500, shall be exempt from attachment, execution, or garnishment for the debts of the owner. If any holdings in excess of this amount are subjected to such liability, the directors of the association may either admit the purchaser thereof to membership or may purchase from the purchaser the holdings at par value.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
2001 Ed., § 29-928.
1981 Ed., § 29-1128.
1973 Ed., § 29-828.
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