§ 31-4427Title 31
Salaries to be authorized by directors.
No domestic company shall pay any salary, compensation, or emolument to any officer, trustee, or director thereof, amounting in any 1 year to more than $5,000, unless such payment shall be authorized by the board of directors of the company.
Annotations
June 19, 1934, 48 Stat. 1151, ch. 672, ch. III, § 27 1973 Ed., § 35-527. 1981 Ed., § 35-627. This section is referenced in § 31-3503. Hospital and medical services corporation, applicability of this section, see § 31-3503.
Sourced from the DC Council Open Law Library (public domain).
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