Chapter CXLI. to incorporate the National Hotel Company, of Washington City
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Chap. CXLI.— An Act to incorporate the National Hotel Company, of Washington City.July 13, 1868. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* ThatNational Hotel Company incorporated in Washington, D. C. George H. Calvert, R. C. Weightman, James C. McGuire, Zeph English, George II. Calvert, Jr., and Charles B. Calvert, their associates, successors, and assigns, are hereby created a body corporate and politic by the name of the National Hotel Company, in the city of Washington, in the District of Columbia,89FORTIETH CONGRESS.
Sess. II. Ch. 141, 142. 1868. and byOfficers of corporation; powers, privileges, &c. that name they are made capable of taking, holding, managing, improving, purchasing, leasing, for the sole purpose of erecting and maintaining a hotel as aforesaid, real and personal estate within said city of Washington, not exceeding five hundred thousand dollars in value; said corporation to have a common seal, and the same may break, alter, and renew at pleasure; may prosecute and defend suits before all proper courts and tribunals; may make and ordain by-laws for the governmentBy-laws. of said corporation, and may have and enjoy all of those privileges and be subject to all of the liabilities which corporations for the holding, management, and improvement of real estate in the city of Washington, in the United States, usually enjoy or are made subject to.
Sec. 2. *And be it further enacted,* [That]Capital stock.Shares, and how transferable. the capital stock of the said company shall not be less than two hundred and twenty-seven thousand dollars, be divided into shares of five hundred dollars each, and shall be deemed personal estate, and be transferable upon the books of the said corporation. Sec. 3. *And be it further enacted,* [That]Officers of corporation.Directors.President and treasurer and their duties. the officers of the said corporation shall consist of a president and treasurer, with a board of directors, of whom the president and treasurer may be members, but the number of the directors may be fixed by the shareholders in the by-laws of the corporation.
The president shall preside at the meetings of the corporation, sign certificates of the stock issued to stockholders, and shall have a general oversight over the business and affairs of the corporation; the treasurer shall safely keep and disburse all of the moneys of the corporation under the direction of the board of directors; the directors shall manage and control the property of the corporation, and make contracts in relation thereto; the treasurer, or other officer appointed by the by-laws, shall keep the records of the transactions of the corporation, and shall countersign the certificates of stock issued to the stockholders.
Sec. 4. *And be it further enacted,* [That]Term of office of officers.First meeting.Annual meetings.Special meetings. all the officers of the said corporation shall hold their offices for one year, and until their successors are elected and qualified to act, unless they shall be sooner removed by the directors. The first meeting of the corporation may be called by any person named herein by giving previous notice of not less than five days, to all the other persons herein named, of the time and place of such meeting.
The annual meetings hereafter shall be called by the treasurer or other officer designated by the board, and be held in the city of Washington, at the National Hotel building, on the first Wednesday in January in each year, notice of which shall be sent to the post-office address of each stockholder for ten days before the time for the holding of such meeting; and special meetings of the corporation may be called in the manner and time to be prescribed by the stockholders. Sec. 5. *And be it further enacted,* ThatIndividual liability of stock holders.Charter may be altered, &c. each stockholder shall be individually liable for the debts of the corporation to the amount of stock held by each respectively; and Congress hereby reserves the right to amend, alter, or repeal this charter at pleasure.
Approved, July 13, 1868.