§ 26-213Title 26
Forfeiture of stock.
Any nonadvanced shareholder failing to pay the instalments due on his share and the fines due from him for such time as the bylaws shall determine, shall forfeit his stock, but may, on application, receive a return of the amount paid in on account of his stock, less the accrued fines.
Annotations
Mar. 3, 1901, 31 Stat. 1300, ch. 854, § 698 1973 Ed., § 26-412. 1981 Ed., § 26-513.
Sourced from the DC Council Open Law Library (public domain).
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