Page:United States Statutes at Large Volume 43 Part 1.djvu/1026

 SIXTY-EIGHTH CONGRESS. Sess. II. Cris. 344, 345. 1925_ 995 the district court of the district within which the property subject to such lien is situated: Pfwvided further, That whenever any State by mIém€$·Wh°¤f¤*h¢· appropriate legislation authorizes the tiling of such notice in the me _$’:<it°¤:1f:é?i office of the registrar or recorder of deeds of the counties of that °t§'i,'Q°;'§{;,lt°w”’ °°°“' State, and in the State of Louisiana in the parishes thereof, and in the States of Connecticut, Rhode Island, and Vermont in the office of the registrar or recorder of deeds or town or city clerk having custody of the land records of the towns and cities, then such lien shall not be valid in that State against any mortgagee, purchaser, or judgment creditor until such notice shall be tiled in the office of the registrar or recorder of deeds of the county or counties, or parish or parishes in the State of Louisiana, or in the office of the registrar or recorder of deeds or town or city clerk having custody of the land records in the States of Connecticut, Rhode Island, and Vermont of the towns or cities within which the property subject to the lien is situated." Approved, February 26, 1925. cnn. s4¤.-An Act To amend the ohms Trade Aa, 1922. :i°¤E§1iYI;°iéoi§° U C, 0. . Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subdivision §§@ '*"“‘}g£r°;;m_ (a) of section 4 of the China Trade Act, 1922, is amended by strik- soprsogequma. ipghoutjhe word “Five " and inserting in lieu thereof the word sd, ‘42'p`85°’°m°°d` ree. · Src. 2. That paragraph (6) of subdivision (b) of section 4 of dV¤1·42»1>-85¤»¤¤¤¤d- said Act is amended to read as follows: ° ,,.6m d,m_ “(6) The names and addresses of at least three individuals (a ms. Wm majority of whom, at the time of designation and during their term of office, shall be citizens of the United States), to be designated by the incorporators, who shall serve as temporary directors; and " Sec. 3. That paragraph ((7) of subdivision (b) of section 4 of edY°]·‘2·°·8°°·“'°°“d' said Act is amended to rea as follows: “(7) The fact that an amount equal to 25 per centum of the S‘°°'"“"‘°'“’°'"°'· amount of the authorized capital stock has been in good faith subscribed to." Sec. 4. That subdivision (c) of section 4 of said Act is amended ,_,‘{°‘·“’·*’·**°°·“'“°”"‘ to read as follows: "(c) A China Trade Act corporation shall not engage in the busi- bu*§‘,§},*,j,‘}§,{‘,§,{{‘,§’},*,§`?“°° ness of discounting bills, notes, or other evidences o debt, of receiving deposits, of buying and selling bills of exchange, or of issuing bills, notes, or other evidences of debt, for circulation as money; nor engage in any other form of banking business; nor engage in any _ _ _ form of insurance business; nor engage in, nor be formed to engage ,u{,‘;§§,“§,"g,$},“e§¤‘§,€ in. the business of owning or operating any vessel, unless the contro · cirimrsliug interest in such corporation is owned by citizens of the United Vol 39 D mr Vd- States, within the meaning of section 2 of the Shipping Act, 1916, 40,p.i)|X)., ' as amended." _ Src. 5. That section 4 of said Act is amended by adding thereto {ESQ “*_,*j,,“°*b_ ,,5,,, the following new subdiyision: _ _ _ amended. “(d) No certificate of incorporation shall be delivered to a China m§,*gj’g,°'¤§,‘Q,‘{§equ,;’,Q_§ Trade Act corporation and no incorporation shall be comgilete until am¤¤m¢1>aidi¤- at least 25 per centum of its authorized capital stock h_as een paid Stmmm of ml or in in cash, or, in accordance with the provisions of section 8, m real mmm pmpmy. or personal property which has been placed in the custody of the directors, and such corporation has filed a statement to this effect V°*·‘2·¤·8“- under oath with the registrar within six months after the issuance of its certificate of incorporation. except that the registrar may grant