For fraud or concealment, an action may be commenced under this chapter not later than 6 years after the date of discovery of a breach or violation. Otherwise, no action may be commenced under this chapter with respect to a fiduciary’s breach of any responsibility, duty, or obligation under this chapter, or with respect to a violation of this chapter, after the earlier of:

1. (1) Six years after:

   1. (A) The date of the last action that constituted a part of the breach or violation; or
   2. (B) For an omission, the latest date on which the fiduciary could have cured the breach or violation; or

2. (2) Three years after the earliest date:

   1. (A) On which the plaintiff had actual knowledge of the breach or violation; or
   2. (B) On which a report from which he could reasonably be expected to have obtained knowledge of the breach or violation was filed with the Mayor or the Council.

History

Sept. 18, 1998, D.C. Law 12-152, § 202, 45 DCR 4045

Editor's Notes

Application of Law 12-152: See Historical and Statutory Notes following § 1-901.01.

Prior Codifications

1981 Ed., § 1-786.2.