Section 26-A3711. DIRECTORS

Latest version.

3711.1Every company shall report to the Commissioner within thirty (30) days after any change in its executive officers or directors, including in its report a statement of the business and professional affiliations of any new executive officer or director.

3711.2No director, officer, or employee of a company shall, except on behalf of the company, accept, or be the beneficiary of, any fee, brokerage, gift, or other emolument because of any investment, loan, deposit, purchase, sale, payment or exchange made by or for the company, but such person may receive reasonable compensation for necessary services rendered to the company in his or her usual private, professional or business capacity.

3711.3Any profit or gain received by or on behalf of any person in violation of this section shall inure to and be recoverable by the company.

source

Final Rulemaking published at 48 DCR 8034(August 24, 2001).

                    
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