Page:United States Statutes at Large Volume 42 Part 1.djvu/878

 850 SIXTY-SEVENTH CONGRESS. Sess. II. Ch. 346. 1922. "S°¤°**¤·" (e The term "Secre " means the Secre of Commerce; and ··R¤gis¤¤¤.·* (fi The term "regisi:arg" means the Chintiiu·frade Act registrar appointed under section 3. Rezistmr- REGISTRAR. D°$€¤**“°¤» °°’“*°' Sec. 3. The Secreta is authorized to designate as China Trade mmm mm' m` Act registrar an officerreii the Department of Commerce. The omcial station of the registrar shall be m China at a place to be designated . ., Sw bg the Secretary. All functions vested m the registrar by this Act except that upon app to the Secretaig, m such manner as he shall b tion prescribe, any action of the registrar may be affirmed, m ed, or set aside by the Secreta.ry as he deems advisable. An·r1cLEs or INCORPORATION. Sec. 4. (a) Five or more individuals (hereinafter in this Act formed m mmm or referred to as "incorporators"), a majority of whom are citizens of °°""“u“‘ the United States, may, as hereinafter in this Act provided, form a District og] Columbia corporation for the purpose of engaging in business wit `n Chin` a. 4 i·f_PP?*i‘” md *¤· (b) The inco orators may ado t articles of inco oration which ioclbi mba wa];  shall be filed withltgie Secretary at higoflice in the Disthlizt of Columbia “”‘ and may thereupon make app `cation to the Secretar for a certificate _ of incorporation in such manner and form as shall be by regulation S°“°°‘““‘““°'°’“l°" prescribed. The articles of incorporation shall state- N*¤¤¢· (1) The name of the pro osed China Trade Act corporation, which shall end with the legend; “Federal Inc. U. S. A.," and which shall not, in the opinion of the Secretary, be likely in any manner to mislead the ublic; Prl¤cii>¤1<>f¤¤¤· (2) The iiocation of its principal office, which shall be in the Dis- _ trict of Columbia; B“$*“°“¥""¥’°“°“· (3) The particular business in which the corporation is to engage; C¤P**¤l¤*°°k,°*°- (4) The amount of the authorized capital stock, the designation of each class of stock, the terms upon whic it is to be issued, and the number and par value of the shares of each class of stock; D¤¤**¤¤ (5) The duration of the corporation, which may be for a period of not more than twenty-five years, but which may, upon application of the corporation and ayment of the incorporation fee, be successively extended by the Siecretary for like periods; '*`°mP°"°'Y"*’°"'°"· (6) The names and addresses of individuals, a majority of whom are citizens of the United States and at least one of whom is a resident of the District of Columbia, to be designated by the incorporators, who shall serve as temporary directors; and P“Y”'°”*°°”S*°""*· (7) The fact that an amount equal to 25 per centum of the amount of the authorized capital stock has been in good faith subscribed and paid in cash, or, in accordance with the provisions of P°"·\’·**“- section 8, in real or personal property which has been placed in the _ _ custod of the directors. §,$’;'“°°° (cl, A China Trade Act corporation shall not e age in the business of disconmting bills, notes, or other evidences ofnmiiebt, of receiving ’ deposits, of buyin and selling bills of exchange, or of issuing bills, notes, or other eviciences of debt, for circulation as money; nor engage in any other form of banking business; nor engage in any form of insurance business. cmrrrrrcanz or INCORPORATION. ,,0,g°‘{.}*§°§{,"g‘§,,';{,‘§,‘,§$,‘; _ Sec. 5. The Secretary shall, upon the Bling of such application, ¤¤g(§:g§&r· issue a certificate of incoggoration certif `ng that the provisions of ' this Act have been compli with and decliilring that the incorporators
 * s$§§°Zi$i»°i:¤i°¤m. be adnumsteredelg him under the supervision of the Secretary;