May 17, 1932. [S 3594.] [Public, No. 137.]
District of Columbia Code amendment.
Vol. 31, pp. 1289, 1310, amended.
Insurance corporations formed under District of Columbia laws. Headquarters and records of, to be maintained within said District. Provisos. Branch-office records exempt. Corporations created by special Act of Congress.
Reincorporation, elsewhere. Post, p . 1778. Conditions imposed. Revocation of charter for violation. Prosecution of officer or agent. Jurisdiction of police court.
[CHAPTER 189.]
AN ACT
To require all insurance corporations formed under the provisions of Chapter XVIII of the Code of Law of the District of Columbia to maintain their principal offices and places of business within the District of Columbia, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That Chapter XVIII of the Code of Law for the District of Columbia be, and the same hereby is, amended by adding thereto a new section, which shall provide— "That any corporation now or hereafter formed or organized under any provision of law in force and effect in the District of Columbia to engage in an insurance business shall maintain its principal office within said District and shall keep its books, records, and files therein, and shall not remove from said District either its principal office or its books, records, or files without the permission of the Commissioners of the District of Columbia first had and obtained : Provided, however, That nothing herein contained shall be construed to apply to the books, records, and files of any such corporation kept in a branch-office agency of such corporation, which books, records, and files relate solely to the business transacted by the said branch office agency : And provided further, That any insurance corporation created by special Act of Congress is hereby authorized upon resolution of its board of directors or trustees to reincorporate under the laws of any State of the United States, a certified copy of such resolution of such board of directors or trustees having first been filed in the office of the Superintendent of Insurance of the District of Columbia an d recorded in the office of the Recorder of Deeds of the District of Columbia. Upon compliance with the above conditions, the assets of the said corporation shall thereby become vested in the new corporation. Said new corporation shall faithfully carry out any and every right, obligation, and liability of said original corporation.
"Any corporation violating any of the provisions hereof shall forthwith forfeit its charter, which forfeiture shall operate as a revocation of its license to do business within said District.
"Any officer, agent, or employee of any such corporation who shall violate any of the provisions hereof shall be guilty of a misdemeanor and upon conviction shall pay a fine of not less than $300 or be imprisoned for not more than ninety days, or by both such fine and iniprisonment . All prose cutions hereunder shall be upon information filed in the police court of the District of Columbia in the name of the District of Columbia by the corporation counsel thereof or any of his assistants ."
Approved, May 17, 1932.
[CHAPTER 190.]
JOINT RESOLUTION
May 17,1932.
[S.J. Res 36.]
____________________
[Pub. Res . No. 20.]
To change the name of the island of "Porto Rico" to "Puerto Rico ."
Resolved by the Senate and House of Representatives of the
United States of America in Congress assembled,
Island of "Porto Rico."
Vol. 39, p. 951.
To be hereafter designated as "Puerto Rico."
That from and
after the passage of this resolution the island designated "Porto
Rico" in the Act entitled "An Act to provide a civil government
for Porto Rico, and for other purposes," approved March 2, 1917, as
amended, shall be known and designated as "Puerto Rico." All Force and effect on existing laws, etc.
laws, regulations, and public documents and records of the United
