The Top Ten Things You Need to Know about the New District of Columbia Nonprofit Corporation Act


On January 1, 2012, the District of Columbia Nonprofit Corporation Act of 2010 (the “New Act”) went into effect. As a general rule, the New Act provides D.C. nonprofit corporations with considerable flexibility to structure their corporate governance, and for the most part will not require changes to day-to-day operations. However, numerous default rules have changed under the New Act and new, more detailed provisions governing matters like director standards of conduct and liability, indemnification, member voting rights and ballot voting procedures, and numerous other topics require D.C. nonprofit corporations to familiarize themselves with the new law, and determine whether changes to their governing documents or practices will be necessary to comply. The following highlights many of the significant changes that are in store. The District of Columbia Code can be found online, below.

(1) Applicability (D.C. Code §§ 29-414.01, .02) – The New Act is applicable to nonprofit corporations incorporated in the District of Columbia. Except for some limited provisions, such as the change of filing date for the Biennial Reports and an expansion of the registered agent provisions, the provisions in the New Act do not affect foreign corporations authorized to do business in the District of Columbia.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Administrative Agency Updates, Business Organization Updates, Nonprofits Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Venable LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »