District Of Columbia § 29-304.04 - Fractional shares.

Full text of District Of Columbia D.C. Code § 29-304.04 — Fractional shares., with citation guidance and answers to common questions.

§ 29-304.04. Fractional shares.

29-304.04
(a)

A corporation may:

(1)

Issue fractions of a share or pay, in money, the value of fractions of a share;

(2)

Arrange for disposition of fractional shares by the shareholders; or

(3)

Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share.

(b)

Each certificate representing scrip shall be conspicuously labeled “scrip” and shall contain the information required by .

(c)

The holder of a fractional share shall be entitled to exercise the rights of a shareholder, including the right to vote, to receive dividends, and to participate in the assets of the corporation upon liquidation. The holder of scrip shall not be entitled to any of these rights unless the scrip provides for them.

(d)

The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including that the:

(1)

Scrip will become void if not exchanged for full shares before a specified date; and

(2)

Shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.

Annotations

Source: official District Of Columbia text · Last verified 2026-08-27

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Frequently Asked Questions About District Of Columbia § 29-304.04

What does D.C. Code § 29-304.04 cover?

Section 29-304.04 ("Fractional shares.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite District Of Columbia § 29-304.04?

A common citation format is "D.C. Code § 29-304.04" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of District Of Columbia law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.

How does District Of Columbia § 29-304.04 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.