Forfeiture of stock. Any nonadvanced shareholder failing to pay the instalments due on his share and the fines due from him for such time as the bylaws shall determine, shall forfeit his stock, but may, on application, receive a return of the amount paid in on account of his stock, less the accrued fines. (Mar. 3, 1901, 31 Stat. 1300, ch. 854, § 698.) Prior Codifications 1981 Ed., § 26-513. 1973 Ed., § 26-412.
District of Columbia Legal Code