19 U.S.C. § 1495 — Partnership bond
submitted 96 years ago by ch. 497 to r/title-19-CUSTOMS-DUTIES · 83 words · no verdicts yet
When a partnership must give a customs bond, one partner’s signature binds all partners as if they signed it. The bond may be enforced against all partners.
When law or regulations require a partnership to execute a bond for customs-house business, any one partner’s execution binds the other partners in the same way and to the same extent as if they had personally signed. An action on the bond may be brought against all partners as if all had signed it.
When any bond is required by law or regulations to be executed by any partnership for any purpose connected with the transaction of business at any customhouse, the execution of such bond by any member of such partnership shall bind the other partners in like manner and to the same extent as if such other partners had personally joined in the execution, and an action or suit may be instituted on such bond against all partners as if all had executed the same.
Source credit: (June 17, 1930, ch. 497, title IV, § 495, 46 Stat. 727.)
- 1930Enacted · Act of June 17, 1930, ch. 497 · 46 Stat. 727
A history note hasn’t been published yet. The record shows enactment by ch. 497 on 1930-06-17.
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