District Of Columbia § 29-312.20 - Grounds for judicial dissolution.
Full text of District Of Columbia D.C. Code § 29-312.20 — Grounds for judicial dissolution., with citation guidance and answers to common questions.
§ 29-312.20. Grounds for judicial dissolution.
29-312.20The Superior Court may dissolve a corporation:
In a proceeding by the Attorney General for the District of Columbia if it is established that the corporation:
Obtained its articles of incorporation through fraud; or
Has continued to exceed or abuse the authority conferred upon it by law;
In a proceeding by a shareholder if it is established that:
The directors are deadlocked in the management of the corporate affairs, the shareholders are unable to break the deadlock, and irreparable injury to the corporation is threatened or being suffered, or the activities and affairs of the corporation can no longer be conducted to the advantage of the shareholders generally, because of the deadlock;
The directors or those in control of the corporation have acted, are acting, or will act in a manner that is illegal, oppressive, or fraudulent;
The shareholders are deadlocked in voting power and have failed, for a period that includes at least 2 consecutive annual meeting dates, to elect successors to directors whose terms have expired; or
The corporate assets are being misapplied or wasted;
The creditor’s claim has been reduced to judgment, the execution on the judgment returned unsatisfied, and the corporation is insolvent; or
The corporation has admitted in writing that the creditor’s claim is due and owing and the corporation is insolvent;
In a proceeding by a creditor if it is established that:
In a proceeding by the corporation to have its voluntary dissolution continued under court supervision; or
In a proceeding by a shareholder if the corporation has abandoned its business and has failed within a reasonable time to liquidate and distribute its assets and dissolve.
Subsection (a)(2) of this section shall not apply in the case of a corporation that, on the date of the filing of the proceeding, has shares which are:
Listed on the New York Stock Exchange, the American Stock Exchange or on any exchange owned or operated by the NASDAQ Stock Market LLC, or listed or quoted on a system owned or operated by the Financial Industry Regulatory Authority; or
Not so listed or quoted, but are held by at least 300 shareholders and the shares outstanding have a market value of at least $20 million, exclusive of the value of the shares held by the corporation’s subsidiaries, senior executives, directors, and beneficial shareholders owning more than 10% of such shares) [sic].
For the purposes of this section, the term “beneficial shareholder” has the meaning specified in .
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 29-312.20
What does D.C. Code § 29-312.20 cover?
Section 29-312.20 ("Grounds for judicial dissolution.") 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 § 29-312.20?
A common citation format is "D.C. Code § 29-312.20" (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 § 29-312.20 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.