Code of the District of Columbia

§ 26–105. Liability of shareholders — Termination.

The additional liability imposed by § 26-104 upon the shareholders of savings banks, savings companies, and banking institutions and the additional liability imposed by § 26-1322 upon the shareholders of trust companies, shall cease to apply on July 1, 1937, with respect to such savings banks, savings companies, banking institutions, and trust companies which shall be transacting business on such date; provided, that not less than 6 months prior to such date, the savings bank, savings company, banking institution, or trust company, desiring to take advantage hereof, shall have caused notice of such prospective termination of liability to be published in a newspaper published in the District of Columbia and having general circulation therein. In the event of failure to give such notice as and when above provided, a termination of such additional liability may thereafter be accomplished as of the date 6 months subsequent to publication in the manner above provided.


(Aug. 23, 1935, 49 Stat. 720, ch. 614, § 337.)

Prior Codifications

1981 Ed., § 26-105.

1973 Ed., § 26-105.

Section References

This section is referenced in § 26-710.