§ 26–201. Formation; general nature and powers.

(a) Any 5 or more persons who desire to form an incorporated building or homestead association, all being citizens of the United States, and a majority of them residents of the District of Columbia, may make, sign, seal, and acknowledge, before some officer authorized to take the acknowledgment of deeds, and file for record in the Office of the Recorder of Deeds, a certificate, in writing, to the same effect as that required in Chapters 1 and 3 of Title 29 for the formation of the corporations therein mentioned.

(b) When such certificate shall have been filed for record as aforesaid, the persons who have signed and acknowledged the same, and their successors, shall become and be a body politic and corporate, in fact and in law, by the name stated in the certificate, and by that name have succession and be capable of suing and being sued in the courts, of the District, and of purchasing, holding, and conveying such real estate as may be necessary to the conduct of its business, and to make reasonable bylaws not inconsistent herewith.

(Mar. 3, 1901, 31 Stat. 1298, ch. 854, §§ 687, 688; July 2, 2011, D.C. Law 18-378, § 3(k)(2), 58 DCR 1720.)

Prior Codifications

1981 Ed., § 26-501.

1973 Ed., § 26-401.

Effect of Amendments

D.C. Law 19-378, in subsec. (a), substituted “Chapters 1 and 3 of Title 29” for “Chapter 2 of Title 29”.

Transfer of Functions

Pursuant to Reorganization Plan No. 3 of 1992, effective January 20, 1993, unless another date was designated by the Mayor under Sec. V of the Plan, the D.C. Office of Banking and Financial Institutions (“OBFI”) is hereby transferred from the Deputy Mayor for Economic Development (“DMED”) control center to a separate OBFI control center/responsibility center. OBFI will continue to be administered by the Superintendent and will remain a part of the economic development cluster reporting to the Mayor.