District Of Columbia § 29-1010.08 - Liability for improper distributions; limitation of action.
Full text of District Of Columbia D.C. Code § 29-1010.08 — Liability for improper distributions; limitation of action., with citation guidance and answers to common questions.
§ 29-1010.08. Liability for improper distributions; limitation of action.
29-1010.08Except as otherwise provided in subsection (b) of this section, if a director of a limited cooperative association consents to a distribution made in violation of and in consenting to the distribution fails to comply with , the director is personally liable to the association for the amount of the distribution that exceeds the amount which could have been distributed without violating .
A person that receives a distribution knowing that the distribution was made in violation of shall be personally liable to the limited cooperative association to the extent the distribution exceeded the amount that could have been properly paid.
A director against whom an action is commenced under subsection (a) of this section may implead in the action any:
Other person who is liable under subsection (a) of this section and seek to enforce a right of contribution from the person; and
Person that receives a distribution in violation of subsection (b) of this section and may seek to enforce a right of contribution from the person in the amount the person received in violation [of] subsection (b) of this section.
An action under this section shall be barred if it is commenced later than 2 years after the distribution.
Annotations
Application of Law 19-210: Section 7 of provided that the act shall apply as of January 1, 2012.
Uniform Law: This section is based on § 1008 of the Uniform Limited Cooperative Association Act.
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 29-1010.08
What does D.C. Code § 29-1010.08 cover?
Section 29-1010.08 ("Liability for improper distributions; limitation of action.") 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 § 29-1010.08?
A common citation format is "D.C. Code § 29-1010.08" (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 § 29-1010.08 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.