District Of Columbia § 29-304.23 - Share dividends.
Full text of District Of Columbia D.C. Code § 29-304.23 — Share dividends., with citation guidance and answers to common questions.
§ 29-304.23. Share dividends.
29-304.23Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation’s shareholders or to the shareholders of one or more classes or series. An issuance of shares under this subsection shall be a share dividend.
Shares of one class or series shall not be issued as a share dividend in respect of shares of another class or series unless:
The articles of incorporation so authorize;
A majority of the votes entitled to be cast by the class or series to be issued approve the issue; or
There are no outstanding shares of the class or series to be issued.
If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, the record date shall be the date the board of directors authorizes the share dividend.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 29-304.23
What does D.C. Code § 29-304.23 cover?
Section 29-304.23 ("Share dividends.") 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 § 29-304.23?
A common citation format is "D.C. Code § 29-304.23" (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 § 29-304.23 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.