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2019 District of Columbia Code
Title 31 - Insurance and Securities.
Chapter 44 - Domestic Life Companies.
§ 31–4427. Salaries to be authorized by directors.
Universal Citation: DC Code § 31–4427 (2019)
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.
(June 19, 1934, 48 Stat. 1151, ch. 672, ch. III, § 27.)
Prior Codifications1981 Ed., § 35-627.
1973 Ed., § 35-527.
Section ReferencesThis section is referenced in § 31-3503.
Cross ReferencesHospital and medical services corporation, applicability of this section, see § 31-3503.
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