Page:United States Statutes at Large Volume 44 Part 1.djvu/382

 § 143  T1 T1,12 15.~»`oon,,stee (el) The term "Fodoral district court" menn\§\”"§'t;y Fegernl <listriot·'com·t, the, United States Court for Chinn, end the Supreme Court of the I)istriet of Columbia; ~ °(e) The terxx1é;f‘Seeret:1ry moans the Secretary of Comnnwee; and _ ., . (fl The term "regist:·nr" moans the China Trade Act I‘t\1§iS{I‘{21‘ nppointod under tho following section. (Sept. 19, 1922, o. 346, § 2, 42 Stat} 849.) ‘ · _ , 143. Registrar; designation; station; supervision by Secretary of Commerce.—g—-The Secretnry_ is authorized to designate as China Tréide Act registrar an officer of the ·I)epa1.·tmenl§ of Comnioméo. . The oilicial station. of the registrar shall be in China nt :1 place to be designated by the Se<:t·ot:it·y. A1l_fu11(:·` tions vested in the re;:istrm? by this chapter shall be all- .ministorod by him undergtlxe supervision of the_Secret:u·y; ~ excopt_tl1z1t upon appeal to the Secretary, iin suc}; manner as hc shall by regulation prescribe, any action of the registrar nnny be ntnrmod, inodiiietl, or set qsido by the Secretary as he deems advisable. (adopt. 19, 1922,_c, 346, §‘3, 42 Sta.t.·850.) _ Y‘ 144. Incorporation; arti<:les_;··business prohibited; subscrip- .titm, to stobk.-——(a) Three or more individuals (he‘re_iua£tetin this chapter referred to as "§ncorp0rat0rs")`, "a majority of whom are citizens of the United States, may, 2is_heréin:1fter in thig chapter provided, form :1 District of Columbia corporation for the purpose of engaging iu\busimess within Chiua." V ‘ (bln Tho incorporators may adopt articles of incorporation which shall bélileil with the S_ocrotz1ry nt bis office in the Dis? triot of Colombia and may thereupon make application to the Secretary for a certiiicote ot; incorporation in sucl1_ 1Il&lI1_ll€;' and form as shall be by regulation prescribed. The articles of incm·po1·:1tion shnll.$tate———=—- ‘ `· (1) The n:une"bf the proposed China Tmcle Act corporation, whicln shall, ond with the legend, E"Fcdernl Inc. U. ‘S. A..," and \\'f1li(!l1*Sh&»u 1iot,·in the opinion of thej Secretary, be likely in _m.1y manner to mislead the public ;‘ ‘ . _ (2) The location of its` principal office, which shall be in the District of Columbia'; { _ A b (3) The pnxiioulnr business in which the corporation no to engage;, , ‘ _‘ _ ‘ ,, (4) The amount ot tho authorized onpitafstook, the doeighty tion of ozxeh class of stock, the towns upon which itis to be isstied, and the numbot :111;,1 par vulue,of fthe shores of enoh olaszs of stock; _ · _ _ ·" T A ‘ . _j(.5} (Pho duration of the-c<>r;$0»1‘utic>u,. which muy. be for a` period of not more than twent5*·five'$*eurs, but WhlchLm_ay,_ upon application of the',cot·p<>rhtiou and payment of the i1lC01‘§OI£`ltl0l1 e fee, be s11<·t·•;·ssft1l1;»,· extended by the Secretary Qtof like periods-;, "(G) The names and addresses of,at leaslitlnree individuals _(:r majority of \`l’llll‘l. nt the time, of designation and dtnrlng their torn; of oilieo, shall be citizens of the United States), to be designntotl by tll€·iH('•!I’i)£)I°&t0l°S, who shall serve ns teinpomry Lll1’t’t"itfll‘S§'!1!l(1 Q ·‘ "· '‘‘_ , (7)- The foot tlnnt nn amount oqunl to 25 per contum of the amount ufltho zxuthorizotl onpitnl stook has been U1 good faith ·sul»s=t·ril»etl to. ‘· .. . · * t I ·· Co) A China '1`rntle Avt tiorporntimx shall not engage in the llusinose of cliezoouizting bills, l1¢)l0:·4‘/(lll? other evidences of debt, A uf revolving depossite, of buying end selling bills of exolxeuge, or nf i-Seuim.: bills, nogpe, or ntl;ex·“evi¢l¢$nees of debt, for cited- V lation as nwnoy {nor exxgaxge in any othe foun of banking busino.-:s,; nos: engage in any form of innnretxoe business; nor en—, gage lnfnor be fornxod to engage in, the bueineseot evening or t ogoxtwnting any vessel, unleeettbe controlling interest an nucl; ootvporntion is owned by oitinetxs of the United Stntesgwithln the meaning of section, 802 of Title 46, Smvnxno. _ t _ (tl) No oox·ti1iea.te of incorporation shell be dolivored_ to n Chinn Trade Act corporation and no incorporation shall be complete until at least 25 por centum of its authorized capital stock`

?RC‘Jr? AND SIZHADE  SES has been paid in in cs“sl1, or, in soeoirdenee with the prex·§eieos of section 148 of this chapter, in reel or personel ;>r·e;>omwhich has been plseedhu the custody of the directors, sed sms, corporation has filed e statement to this eieet under oath site the registrar within six months after the issuance of its <_:er·· tiiicote of invcorpogipn, except that the 1‘egiSt1‘e1·`me.y tgregig additional time.for t1§`ie’~fi1.ip§ of such statement upon epfrims tion made prior to the expiration of such six months. It new such corporation tramsscts business in violation of this sz·mfié- vision of°this section or foils to file such statement within ss; ‘ months, or within such time as the registrar prescribes rl}}iHll such application, the registrar shall institute proceedings xxxsiw section 154 of this chapter for the revocation of the como. cate. (Sept.·19,..1922, c. 346; §i4.,\42 Stat. S50; Feb. 26. lim, c. 345, §,§ 1—5;L43 Stat, 995.) ·. 145; Certificate, of °incorporhtion.¥lTl1e Secretary shell, ups;}. the tiling of such application iissue e. certihcste of in<eet·hemtion certifying that the Drovis nsof- this-chapter here ieee complied with ard declaring that he incorpoeetors are :1 ieitiy corporate, if (e.-) an incorporation of $100 hes hecn psi;} him, (b) he finds that the articles of·ioeoi‘·“fi§‘r'etiou and stole- 9 ments therein conform to the requirements of, mid that the iscorporation is authorized by, this chapter, and (c) he finds that such corporation willoid in developing markets in Chime for goods produced in the United States, A copy, or the erticleel of ixicorporotioxi shall be made ra part of the certmcete of iscorporation eml printed ill full thereon, Any failure, previ•_»ais to the lssuaxice of thecertidcate of incorporation, by the incorporators or in respect ·to the epplh:e_tloh for the certitit·oto of ineorporstiou, to conform to any requirement, of low which is a condition precedent to sixeh issuzmee, may not suhsequem; thereto be held to invalidate the eértiiieuté of incorporation or alter the legal stetusof any ectfof a Chinn Trade Act eorporstiori, except inproceedings instituted by the registrar for the revocation of the certidcate of incorporation. (Sept. 19; 192,:, ,c.·346, 5 5, 42 Stat. 850.) ` j o · x ‘ 146. General powers -0f c0rporntiouQi——-—~In addition to the spowers granted elsevrhere lh this chapter, e Qliinw Trmme-ct _ corpc»ration———ig- · _ ,° _ " » ii _ t ‘ _ A" (a) Shall have the right of succession duringl the existence of the eorporotiohi t _ (b) Shall have a corporate seal and may, with the spprorel of the Seereteiryyelter it; · i ‘ (c). May sue and be sued;,. ‘ (d) Shell have the right, to transact {llB—b¥15iIl€$S authorized ,l»y its articles of incorporation and such further business os is iproperly connected therewith or. mcessery end lseidentsl thereto; M, _ _ Q 5 · ` -`(e). May make contracts and incur llrihilities; _ (f) May eequlre and hold reel or personal property, ue<:es— sary to effect the purpose for which it is formed; mid dispose of such property when no longer heeded for such purposes: . (K) Me? borrow money end issue its eotes, eoupogi or registered bonds, or otherevidehees of debt, and seepre their pill" meut by a, mortgage of its property {sod · (li) May establish suelvlironclx offices et such places lu Chino - as it deeujis advisable. (Sept. 19, 1922, "c.r34ti, § tl, 42 Start. 851; ‘ Feb. 26, 1925, e.‘345, §t’ 6, 43 Stat, 996.) · _ 147. Stock; issuance at por vslue.————·Esch share of the orisihel or ·amy*suhsequeut issue bf stock of s China Trade Avi ,eorp0ro.tioh shell be issued at not loss" than per value, and shell be paid for in cosh, or in accordance with the provisions. of the following section lh reel or personslproperty whiehhss “ been placed in the custody of the directors. No such shore shell be issued until the amount of the pur value thereof has been paid the corporation; sod when issued, each shore shell be held to be full paid and mmemesseble; except that if any shereiis, in violation of this section, issued erithoutthe amount