District Of Columbia § 29-406.53 - Advance for expenses.
Full text of District Of Columbia D.C. Code § 29-406.53 — Advance for expenses., with citation guidance and answers to common questions.
§ 29-406.53. Advance for expenses.
29-406.53A nonprofit corporation may, before final disposition of a proceeding, advance funds to pay for or reimburse the reasonable expenses incurred by an individual who is a party to a proceeding because he or she is or was a director if the individual delivers to the corporation:
An affirmation in the form of a record of his or her good faith belief that he or she has met the relevant standard of conduct described in or that the proceeding involves conduct for which liability has been eliminated by or under a provision of the articles of incorporation as authorized by ; and
An undertaking in the form of a record to repay any funds advanced if the individual is not entitled to mandatory indemnification under and it is ultimately determined under or that the individual has not met the relevant standard of conduct described in .
The undertaking required by subsection (a)(2) of this section shall be an unlimited general obligation of the director, but need not be secured and may be accepted without reference to the financial ability of the director to make repayment.
Authorizations under this section shall be made:
By the board of directors:
If there are 2 or more disinterested directors, by a majority vote of all the disinterested directors, a majority of whom will constitute a quorum for that purpose, or by a majority of the members of a committee of 2 or more disinterested directors appointed by such a vote; or
If there are fewer than 2 disinterested directors, by the vote necessary for action by the board in accordance with , in which authorization directors who do not qualify as disinterested directors may participate; or
By the members.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 29-406.53
What does D.C. Code § 29-406.53 cover?
Section 29-406.53 ("Advance for expenses.") 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 § 29-406.53?
A common citation format is "D.C. Code § 29-406.53" (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 § 29-406.53 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.