Page:United States Statutes at Large Volume 14.djvu/587

 'I HIRTY·NINTH CONGRESS. Sess. II. Ch. 192, 193. 1867. 557 Sec. 4. And be it further enacted, That the funds of this company, _ Funds, how however derived, may be invested in or loaned on stock or real security. ““’“°°d‘ But the stockholders of this company shall not be liable for any loss, dam- Liability of age, or responsibility beyond the amount of stock subscribed by them re- “°°°kh°1d°”‘ spectively, and any profits accruing therefrom and undivided. Sec. 5. And be it further enacted, That suits at law or in equity may Suitstocollect be maintained by said corporation against any of its stockholders for the :;S:€;&°“*’ “P' collection of any assessment on their stock or for any other cause relating ` to the business of said corporation, and may be prosecuted and maintained by any member or stockholder against said corporation for losses or damages insured against, if payment is withheld more than three months after the losses are duly proved, and notihed to the company, agreeably to the conditions of the policy. Sec. 6. And be it further enacted, That the president, secretary, and EX¤9¤llV6 treasurer of the company, and such other stockholders as may be added °°mmm°°' by the board, shall constitute an executive committee, and, when the board of directors are not in session, may exercise all the powers vested in the company, (except as shall be otherwise provided by the board of directors in the by-laws of the company,) a. majority of whom may constitute a quorum to do business. Sec. 7. And be it further enacted, That the capital stock of the com- Capital Stockpany shall not be less than one hundred and fifty thousand dollars, nor $1§0,000to be more than one million dollars, in shares of fifty dollars each, which that-  bz25E__ named amount of one hundred und fifty thousand dollars shall be paid in mm, g previous to effecting insurances. Sec. 8. And be it further enacted, That the directors shall have power Dividends. to declare such dividends of the profits of the company as they shall deem proper: Provided, That no dividend shall be declared when, in the opin- Proviso. ion of the directors or a majority thereof, the capital stock would be impaired thereby. Sec. 9. And be it further enacted, That the company shall be located L¤¤¤tt<>¤ of nt the city of Washington, in the District of Columbia, and may establish °°2§;;’g}és_ agencies elsewhere in the United States, subject to the laws of the several States. Sec. l0. And be it further enacted, That it shall be the duty of the A¤¤¤¤l P0- presitlvnt or vice-president and secretary of said company annually, on or pm' bolorc the first day of February, to prepare, under oath, and deposit in the offico of the Secretary of the Interior, a detailed report of their transactions for the preceding year, and also cause to be published, in some daily newspaper published in the District of Columbia, for at least ten Smtementto days, a statement exhibiting the total amount of profits received and the bfoggjliggjp °f total amount of losses paid and ascertained, including expenses during g€b;,S,}·u,,(js,}g,c_ the year; also, the amount of debts owing by said company at the date of the statement, and the amountof claims against the company for losses; also, a statement of the funds of the company and the gross amountof outstanding risks thereon, together with the amount of stock subscribed and tho amount actually paid in. Sec. ll. And be it jltrther enacted, That Congress may at any time Actmuy bc alter, amend, or revoke the said incorporation. r°P°al°d‘ Approved, March 2, 1867. CHAP. CXCIII. -— An Act tc define and punish certain Crimes therein named. March 2, 1867. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That if any person shall rob Robbery and another of any kind or description of personal property belonging to the l“;°S”Y P“”‘ United States, or shall feloniously take and carry away the Same, the is G ` person so offending shall, on conviction, be punished by fine not exceeding five thousand dollars, or by imprisonment at hard labor, not less than one, nor more than ten years, or by both, at the discretion of the court. Approved, March 2, 1867.