Chapter 44.
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/statutes-at-large/vol-20/chapter-44-117521·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 44.— AN ACT to extend the charter of the Franklin Insurance Company of the city of Washington.March 26, 1878. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Franklin Insurance Company.Charter extended for 20 years.1865, ch. 26,13 Stat., 426. That the act to amend and extend the charter of the Franklin Insurance Company, approved January thirtieth, eighteen hundred and sixty-five, be, and the same is hereby, extended and continued in force for the period of twenty years from the ninth day of April, eighteen hundred and seventy-eight, the time at which the said act of January thirtieth, eighteen hundred and Rights and obligations extended.sixty-five, will expire; and that all legal rights and privileges conferred upon the Franklin Insurance Company by the original act of incorporation, or by any of the acts amending and extending the same and all legal obligations and responsibilities imposed upon the said company by the acts aforesaid, shall be, and the same are, extended and continued in force for the period of twenty years, commencing on the ninth day of April, eighteen hundred and seventy-eight.
Sec. 2. The shareholders in said company shall be personally liablePersonal liability of shareholders. for all the debts of the company to an amount equal to the par of their shares, and in addition to the amount thereof; and no part of the capital stock of said company shall be withdrawn and any director or stockholder assenting thereto shall be personally liable for all debts of said Right to amend.company existing at the time of such withdrawal. And Congress may at any time alter amend or repeal this act.
Approved, March 26, 1878.