Us Code § 1495 - Partnership bond
Full text of Us Code United States Code § 1495 — Partnership bond, with citation guidance and answers to common questions.
§ 1495. Partnership bond
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.
(June 17, 1930, ch. 497, title IV, §495, 46 Stat. 727.)
Editorial Notes
Prior Provisions
Provisions similar to those in this section were contained in act Sept. 21, 1922, ch. 356, title IV, §495, 42 Stat. 964. That section was superseded by section 495 of act June 17, 1930, comprising this section, and repealed by section 651(a)(1) of the 1930 act.
Provisions substantially similar to those in this section, except that they applied to bonds for the payment of duties or for any other purpose connected with the general transaction of business at any customs house, were contained in act June 20, 1876, ch. 136, 19 Stat. 60, as amended by act Aug. 27, 1894, ch. 349, §70, 28 Stat. 569, prior to repeal by act Sept. 21, 1922, ch. 356, title IV, §643, 42 Stat. 989.
About This Section
19 U.S.C. § 1495 is part of Title 19 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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