Chapter CXXI. *extending the Charter incorporating the “German Benevolent Society” of Washington City, in the District of Columbia, approved July twenty-seventh eighteen hundred and forty-two.* June 13, 1860. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress ass
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Chap. CXXI.— An Act *extending the Charter incorporating the “German Benevolent Society” of Washington City, in the District of Columbia, approved July twenty-seventh eighteen hundred and forty-two.* June 13, 1860. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* That from and after the passage of this act, all those persons who are, or shall hereafter become, members German Benevolent Society incorporated.of the “German Benevolent Society,” of the city of Washington, District of Columbia, be, and they are hereby, made a body corporate and politic, by the name and style of the “German Benevolent Society,” and shall so continue until the third day of March, one thousand eight hundred and eighty; and by that name shall have perpetual succession, and by Powers and duties of the corporation.that name may sue and be sued, plead and be impleaded, answer and be answered, defend and be defended, in courts of law and equity and in all other places whatsoever; and by that name may make, have, and use a common seal, and the same may break, alter, and renew at pleasure, and shall have power to ordain, establish, and put in execution such bylaws, ordinances, and regulations as shall seem necessary and convenient for the government of said corporation, not being contrary to the laws and Constitution of the United States; and, generally, to do and execute all acts necessary or proper for the objects of said corporation, subject, to the limitations of this act.
Sec. 2. *And be it further enacted,* That the monthly contributions and Funds of the Society, how to be invested.all other moneys received on account of the society, may, from time to time, be invested in the public stocks of the United States, in loans to individuals, or in stocks of any incorporated banking institution or corporation, and the moneys so invested or that may be deposited shall be drawn out of the bank or place of deposit only on the order of the treasurer, countersigned by the secretary and approved by the president: *Provided, nevertheless,* That the said society or body political shall not, at any one Limit to property.time, hold or possess property, real, personal, or mixed, exceeding in total value the sum of twenty thousand dollars: *And provided,* That the How interest may be applied.annual interest on the capital of the company, or the whole or any part of the capital, may, from time to time, be applied to aid and succor the poor and destitute of the society, or to such other charitable objects as the company may select.
Sec. 3. *And be it further enacted,* That it shall not be lawful for the Corporation not to act as a bank, nor issue notes, &c., under penalty.said corporation to deal or trade in the manner of a bank, nor issue any note in the nature of a bank note, nor transact any other kind of business, or deal in any other manner or thing than is expressly authorized by the second section of this act; and any officer or officers who shall have assented to any such dealing or trade shall, on conviction thereof in the proper court, forfeit and pay the sum of five hundred dollars, one half to the use of the poor of the city of Washington, District of Columbia, and the other half to the use of the person who may prosecute the same: *Provided, always,* That Congress may, at any time, amend, alter, or annul Congress may amend, &c this act.this act.
Approved, June 13, 1860.