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Current as of January 01, 2024 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 26-1329. Directors or trustees personally liable when liabilities exceed assets. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-26-1329/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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