reglab/housing_qa huggingface dataset:
DC Code § 26-1312 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1312. Stock, property, and liability to be security when fiduciary

When any court shall appoint the said company a trustee, receiver, personal representative, special administrator, or such guardian or committee, or shall order the deposit of money or other valuable with said company, or where any individual or corporation shall appoint any of said companies a trustee, executor, assignee, or such guardian, the capital stock of said company subscribed for or taken, and all property owned by said company, together with the liability of the stockholders and officers as herein provided, shall be taken and considered as the security required by law for the faithful performance of its duties, and shall be absolutely liable in case of any default whatever.  (Mar. 3, 1901, 31 Stat. 1305, ch. 854, § 724; June 24, 1980, D.C. Law 3-72, § 207(d), 27 DCR 2155.)  Prior Codifications 1981 Ed., § 26-412. 1973 Ed., § 26-312.
DC Code § 26-1313 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1313. Existing companies; certificate of intention to comply with provisions

Any safe deposit company, trust company, surety or guaranty company, or title insurance company incorporated on or before January 1, 1902, and operating under the laws of the United States in the District of Columbia or of any of the states, and doing business in said District on or before January 1, 1902, may avail itself of the provisions of this chapter on filing in the Office of the Recorder of Deeds of the District of Columbia, or with the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking], a certificate of its intention to do so, which certificate shall specify which one of the 3 classes of business set out in § 26-1301 it will carry on, and shall be verified by the oath of its president to the effect that it has in every respect complied with the requirements of existing law, especially with the provisions of this chapter, that its capital stock is paid in as provided in § 26-1323 and is not impaired; and thereafter such company may exercise all powers and perform all duties authorized by any 1 of the clauses of § 26-1301 in addition to the powers lawfully exercised by such company on January 1, 1902.  (Mar. 3, 1901, 31 Stat. 1306, ch. 854, § 725; Nov. 23, 1985, D.C. Law 6-63, § 106(a)(9); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168.)  Prior Codifications 1981 Ed., § 26-413. 1973 Ed., § 26-313. Section References This section is referenced in § 26-1307 and § 26-1322.
DC Code § 26-1314 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1314. Real property held and conveyed by companies

Any company operating under this chapter may lease, purchase, hold, and convey real property in which the offices of the company are located not to exceed in value the capital and surplus of the company, and such in addition as it may acquire in satisfaction of debts due the corporation under sales, decrees, judgments, and mortgages. But no such association shall hold the possession of any real estate under foreclosure of mortgage, or the title and possession of any real estate purchased to secure any debts due to it, for a longer period than 5 years.  (Mar. 3, 1901, 31 Stat. 1306, ch. 854, § 726; Apr. 19, 1920, 41 Stat. 566, ch. 153.)  Prior Codifications 1981 Ed., § 26-414. 1973 Ed., § 26-314.
DC Code § 26-1315 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1315. Duration of charter

The charters for incorporations named in this chapter and granted before April 11, 1986, may be made perpetual, or may be limited in time by their provisions, subject to the approval of Congress.  (Mar. 3, 1901, 31 Stat. 1306, ch. 854, § 727; Nov. 23, 1985, D.C. Law 6-63,§ 106(a)(10); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168.)  Prior Codifications 1981 Ed., § 26-415. 1973 Ed., § 26-315.
DC Code § 26-1316 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1316. Capital stock — Amount; payment; deposit with Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking]

The capital stock of every such company shall be at least $1,000,000, and at least 50 percent thereof must have been paid in, in cash or by the transfer of assets as hereinafter provided in § 26-1323, before any such company shall be entitled to transact business as a corporation, except with its own members, and before any company organized hereunder shall be entitled to transact the business of a trust company, or to become and act as a personal representative, guardian of the estate of a minor, or undertake any other kindred fiduciary duty, it shall deposit, either in money or in bonds, mortgages, deeds of trust, or other securities equal in actual value to one-fourth of the capital stock paid in, with the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking], to be kept by him upon the trust and for the purposes hereinafter provided; and the said Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking] may from time to time require an additional deposit from any such company, to be held upon and for the same trust and purposes, not exceeding, however, in value one-half the paid-in capital stock; and the said Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking] shall not issue to any corporation the certificate heretofore provided for until said deposit with him of securities required by this section. Within 1 year after the organization of any corporation under the provisions of this chapter, or after any corporation existing prior to January 1, 1902, shall have availed itself of the powers and rights given by this chapter in the manner herein provided for, its entire capital stock shall have been paid in.  (Mar. 3, 1901, 31 Stat. 1306, ch. 854, § 728; June 24, 1980, D.C. Law 3-72,§ 207(e), 27 DCR 2155; Nov. 23, 1985, D.C. Law 6-63, § 106(a)(11); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168.)  Prior Codifications 1981 Ed., § 26-416. 1973 Ed., § 26-316. Section References This section is referenced in § 26-1317.
DC Code § 26-1317 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1317. Capital stock — Calls; sale on failure to pay money subscribed

It shall be lawful for such company to call for and demand from the stockholders, respectively, all sums of money by them subscribed, at such time and in such proportions as its board of directors shall deem proper, within the time specified in § 26-1316, and it may enforce payment by all remedies provided by law; and if any stockholder shall refuse or neglect to pay any instalment, as required by a resolution of the board of directors, after 30 days notice of the same, the said board of directors may sell at public auction to the highest bidder so many shares of said stock as shall pay said installment, under such general regulations as may be adopted in the bylaws of said company, and the highest bidder shall be taken to be the person who offers to purchase the least number of shares for the assessment due.  (Mar. 3, 1901, 31 Stat. 1306, ch. 854, § 729; June 20, 1938, 52 Stat. 780, ch. 527; Sept. 10, 1985, D.C. Law 6-34, § 2, 32 DCR 3776; Mar. 12, 1986, D.C. Law 6-91, § 2, 33 DCR 310.)  Prior Codifications 1981 Ed., § 26-417. 1973 Ed., § 26-317.
DC Code § 26-1318 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1318. Annual reports — Publication; contents; verification

Every such company shall annually, within 20 days after the 1st of January of each year, make a report to the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking], which shall be published in a newspaper in the District, which shall state the amount of capital and of the proportion actually paid, the amount of debts, and the gross earnings for the year ending December 31st then next previous, together with their expenses, which report shall be signed by the president and a majority of the directors or trustees, and shall be verified by the oath of the president, secretary, and at least 3 of the directors or trustees; provided, however, that trust companies which are required to file and to publish reports under the provisions of § 161 of Title 12, United States Code , as amended, shall not be required to make or publish the annual report required under this section.  (Mar. 3, 1901, 31 Stat. 1307, ch. 854, § 730; July 1, 1902, 32 Stat. 619, ch. 1352, § 6(5); Nov. 30, 1945, 59 Stat. 588, ch. 499; Nov. 23, 1985, D.C. Law 6-63, § 106(a)(12); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168.)  Prior Codifications 1981 Ed., § 26-418. 1973 Ed., § 26-318. Section References This section is referenced in § 26-1319.
DC Code § 26-1319 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1319. Annual reports — Liability of directors or trustees

If any company fails to comply with the provisions of § 26-1318, all the directors or trustees of such company shall be jointly and severally liable for the debts of the company then existing and for all that shall be contracted before such report shall be made; provided, that in case of failure of the company in any year to comply with the provisions of § 26-1318, and any of the directors shall, on or before January 15th of such year, file his written request for such compliance with the secretary of the company, the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking], and the Recorder of Deeds of the District of Columbia, such director shall be exempt from the liability prescribed in this section.  (Mar. 3, 1901, 31 Stat. 1307, ch. 854, § 731; Nov. 23, 1985, D.C. Law 6-63,§ 106(a)(13); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168.)  Prior Codifications 1981 Ed., § 26-419. 1973 Ed., § 26-319.
DC Code § 26-1320 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1320. Wilful false swearing; misappropriation

Any wilful false swearing in regard to any certificate or report or public notice required by the provisions of this chapter shall be perjury and shall be punished as such according to the laws of the District of Columbia. Any misappropriation of any of the money of any corporation or company formed under this chapter, or of any money, funds, or property intrusted to it, shall be held to be theft, and shall be punished as such under the laws of said District.  (Mar. 3, 1901, 31 Stat. 1307, ch. 854, § 732; Dec. 1, 1982, D.C. Law 4-164,§ 601(h), 29 DCR 3976.)  Prior Codifications 1981 Ed., § 26-420. 1973 Ed., § 26-320.
DC Code § 26-1321 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1321. Stock deemed personal estate; transfer; contents of certificates

The stock of such company shall be deemed personal estate, and shall be transferable only on the books of such company in such manner as shall be prescribed by the bylaws of the company; but no shares shall be transferable until all previous calls thereon shall have been fully paid. All certificates of the stock of any company organized under this chapter shall show upon their face the par value of each share and the amount paid thereon.  (Mar. 3, 1901, 31 Stat. 1307, ch. 854, § 733; July 1, 1902, 32 Stat. 619, ch. 1352, § 6(5).)  Prior Codifications 1981 Ed., § 26-421. 1973 Ed., § 26-321.
DC Code § 26-1322 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1322. Liability of stockholders

All stockholders of every company incorporated under this chapter, or availing itself of its provisions under § 26-1313 shall be severally and individually liable to the creditors of such company to an amount equal to and in addition to the amount of stock held by them respectively for all debts and contracts made by such company.  (Mar. 3, 1901, 31 Stat. 1307, ch. 854, § 734.)  Prior Codifications 1981 Ed., § 26-422. 1973 Ed., § 26-322. Section References This section is referenced in § 26-105.
DC Code § 26-1323 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1323. Payment of stock to be in money only; exception

Nothing but money shall be considered as payment of any part of the capital stock, except that in the case of any company doing business on January 1, 1902, in the District of Columbia in any of the classes herein provided for, or under any act of Congress, or by virtue of the laws of any of the states, and which company had on that date actually received full payment in money of at least 50% of the capital stock required by this chapter, and which company desires to obtain a charter under this chapter, all the assets or property may be received and considered as money at a value to be appraised and fixed by the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking]; provided, that all such assets and property are also transferred to and are thereafter owned by the company organized under this chapter.  (Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 735; Nov. 23, 1985, D.C. Law 6-63,§ 106(a)(14); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168.)  Prior Codifications 1981 Ed., § 26-423. 1973 Ed., § 26-323. Section References This section is referenced in § 26-1313 and § 26-1316.
DC Code § 26-1324 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1324. Election of, and management of company by, directors or trustees

The stock, property, and concerns of such company shall be managed by not less than 9 nor more than 30 directors or trustees, who shall, respectively, be stockholders, and citizens of the United States, and at least two-thirds of whom shall reside in the District of Columbia or within 100 miles of the location of the principal office of the company, and shall, except the first year, be annually elected by the stockholders at such time and place and after such published notice as shall be determined by the bylaws of the company, and said directors or trustees shall hold until their successors are elected and qualified.  (Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 736; Aug. 28, 1957, 71 Stat. 474, Pub. L. 85-199, § 1.)  Prior Codifications 1981 Ed., § 26-424. 1973 Ed., § 26-324.
DC Code § 26-1325 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1325. Officers; security authorized

There shall be a president of the company, who shall be a director, also a secretary and a treasurer, all of whom shall be chosen by the directors or trustees; provided, that only 1 of the above named offices shall be held by the same person at the same time. Subordinate officers may be appointed by the directors or trustees, and all such officers may be required to give such security for the faithful performance of the duties of their offices as the directors or trustees may require.  (Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 737.)  Prior Codifications 1981 Ed., § 26-425. 1973 Ed., § 26-325.
DC Code § 26-1326 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1326. Power to make bylaws; purposes thereof

The directors or trustees shall have power to make such bylaws as they deem proper for the management or disposal of the stock and business affairs of such company, not inconsistent with the provisions of this chapter, and prescribing the duties of officers and servants that may be employed, for the appointment of all officers, and for carrying on all kinds of business within the objects and purposes of such company.  (Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 738.)  Prior Codifications 1981 Ed., § 26-426. 1973 Ed., § 26-326.
DC Code § 26-1327 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1327. Liability of directors or trustees on declaration of dividends — Conditions

If the directors or trustees of any company shall declare or pay any dividend the payment of which would render it insolvent, or which would create a debt against such company, they shall be jointly and severally liable as guarantors for all the debts of the company then existing, and for all that shall be thereafter contracted while they shall, respectively, remain in office.  (Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 739.)  Prior Codifications 1981 Ed., § 26-427. 1973 Ed., § 26-327. Section References This section is referenced in § 26-1328.
DC Code § 26-1328 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1328. Liability of directors or trustees on declaration of dividends — Exemption

If any of the directors or trustees shall object to declaring such dividends or the payment of the same, and shall at any time before the time fixed for the payment thereof file a certificate of their objection in writing with the secretary of the company and with the Recorder of Deeds of the District, they shall be exempt from the liability prescribed in § 26-1327.  (Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 740.)  Prior Codifications 1981 Ed., § 26-428. 1973 Ed., § 26-328.
DC Code § 26-1329 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1329. Directors or trustees personally liable when liabilities exceed assets

If the liabilities of any company shall at any time exceed the amount of the fair cash value of the assets, the directors or trustees of such company assenting thereto shall be personally and individually liable for such excess to the creditors of the company, after the additional liability of the stockholders has been enforced.  (Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 741.)  Prior Codifications 1981 Ed., § 26-429. 1973 Ed., § 26-329.
DC Code § 26-1330 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1330. Fiduciary not liable as stockholder; liability of estate and funds

No person holding stock in such company as personal representative, guardian, or trustee shall be personally subject to any liability as stockholder of such company, but the estate and funds in the hands of such personal representative, guardian, or trustee shall be liable in like manner and to the same extent as the testator or intestate or the ward or the person interested in such trust fund would have been if he had been living and competent to act and hold the stock in his own name.  (Mar. 3, 1901, 31 Stat. 1308, ch. 854, § 742; June 24, 1980, D.C. Law 3-72,§ 207(f), 27 DCR 2155.)  Prior Codifications 1981 Ed., § 26-430. 1973 Ed., § 26-330.
DC Code § 26-1331 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1331. Increase or decrease of capital stock

(a) Any corporation which may be formed under this chapter may increase its capital stock by complying with the provisions of this chapter to any amount which may be deemed sufficient and proper for the purposes of the corporation. (b) Any company transacting the business of a trust company heretofore or hereafter organized or operating under the provisions of this chapter may by the vote of shareholders owning two-thirds of its capital stock reduce its capital to any sum not below the amount required by this chapter; but no such reduction shall be made until the amount of the proposed reduction has been reported to the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking] and such reduction has been approved by said Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking], and no shareholder shall be entitled to any distribution of cash or other assets by reason of any reduction of the common capital of any such corporation unless such distribution shall have been approved by the Superintendent of Banking and Financial Institutions [Commissioner of the Department of Insurance, Securities, and Banking] and by the affirmative vote of at least two-thirds of the shares of stock outstanding.  (Mar. 3, 1901, 31 Stat. 1309, ch. 854, § 743; June 20, 1938, 52 Stat. 780, ch. 527; Nov. 23, 1985, D.C. Law 6-63, § 106(a)(15); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168.)  Prior Codifications 1981 Ed., § 26-431. 1973 Ed., § 26-331.
DC Code § 26-1332 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 13 - Trust, Loan, Mortgage, Safe Deposit and Title Corporations|Subchapter I - General|§ 26-1332. Copy of certificate as evidence

A copy of any certificate of incorporation filed in pursuance of this chapter, certified by the Recorder of Deeds to be a true copy and the whole of such certificate, shall be received in all courts and places as presumptive legal evidence of the facts therein stated.  (Mar. 3, 1901, 31 Stat. 1309, ch. 854, § 744.)  Prior Codifications 1981 Ed., § 26-432. 1973 Ed., § 26-332.