Chapter 70. To extend the charter of the Franklin Insurance Company of the city of Washington
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CHAP. 70.— An Act To extend the charter of the Franklin Insurance Company of the city of Washington. March 17, 1898. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, * That the Act to amend andDistrict of Columbia.Franklin Insurance Company.Charter extended for twenty years.Vol. 20, p. 32. extend the charter of the Franklin Insurance Company, approved March twenty-sixth, eighteen hundred and seventy-eight, 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 ninety-eight, the time at which the said Act of March twenty-sixth, eighteen hundred and seventy-eight, will expire; and that all legal rights and privilegesRights, etc., extended. 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 ninety-eight.
Sec. 2. That the shareholders in said company shall be personallyPersonal liability of shareholders, etc. liable for all the debts of the company to an amount equal to the par value of their shares, and no part of the capital stock of said company shall be withdrawn, and any director or stockholder assenting thereto shall be personally liable for all debts of said company existing at the time of such withdrawal. And Congress may at any time alter, amend,Right to amend, etc or repeal this Act.
Approved, March 17, 1898.