D.C. Code § 26-212
This is the official text of D.C. Code § 26-212, part of District of Columbia’s Code — part of the compiled statutory law of District of Columbia, published by the state as "Code." Browse the sections below, each linked to its official government source.
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§ 26-212. Repayment of advances.
Official statutory text
A shareholder who has been advanced may at any time repay his advance upon application to the corporation, whereupon, on settlement of his account, he shall be charged with the full amount of the advance and of the accrued installments of the premium, if that has been added to the advancement and made payable in instalments, together with all monthly dues, interest, and fines accrued and charged, and shall receive credit for all monthly dues paid on his shares and the profits thereon the same as are allowed under the bylaws on shares withdrawn not advanced upon, and, if the premium has been deducted in advance, with such proportion of the premium as the bylaws may direct, and the balance remaining due, over and above such credits, shall be received by said corporation in satisfaction and discharge of said advance; provided, that in case of the insolvency of the association, he shall not be entitled to credit for the full amount of dues paid by him, but shall only be entitled to a dividend upon said amount, in common with the nonadvanced shareholders.
Status: in_force · Read it on the official government site
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