Page:United States Statutes at Large Volume 68 Part 1.djvu/211

 68 S T A T. ]

PUBLIC LAW 3 8 9 - J U N E 8, 1954

Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec.

129. Penalty for failure to maintain registered oflSce or registered agent. 130. Effect of nonpayment of fees. 131. Penalties; violation or failure a misdemeanor. 132. Rights and immunities of witnesses. 133. Monopolies and restraint of trade. 134. Waiver of notice. 135. Voting requirements of articles of incorporation. 136. Informal action by shareholders. 137. Appeal from Commissioners. 138. Certificates and certified copies of certain documents. 139. Unauthorized assumption of corporate powers. 140. Forms to be furnished by Commissioners. 141. Reincorporation or incorporation of existing corporations. 142. Effect of filing articles of reincorporation or certificates of incorporation. Sec. 143. Transfer of duties of Recorder of Deeds. Sec. 144. Constitutionality. Sec. 145. Right of repeal reserved. Sec. 146. Time of taking effect. Sec. 147. Appropriation of funds. SHORT TITLE

1. This Act shall be known and may be cited as the "District of Columbia Business Corporation Act", SECTION

DEFINITIONS

SEC. 2. As used in and for the purposes of this Act, unless the context otherwise requires— (a) "Corporation" or "domestic corporation", except as used in section 143 of this Act, means a corporation subject to the provisions of this Act, except a foreign corporation. (b) "Foreign corporation" means a corporation for profit organized under laws other than the laws of the District of Columbia and special Acts of Congress. (c) "Articles of incorporation" include the original articles of incorporation and all amendments thereto, and include articles of merger or consolidation. (d) "Subscriber" means one who subscribes for shares in a corporation, whether before or after incorporation. (e) "Incorporator" means one of the signers of the original articles of incorporation. (f) "Shares" are the units into which the shareholders' right to participate in the control of the corporation, in its surplus or profits, or in the distribution of its assets, are divided. (g) "Shareholder" means one who is a holder of record of shares in a corporation. (h) "Authorized shares" means the aggregate number of shares of all classes, whether with or without par value, which the corporation is authorized to issue. (i) Shares of its own stock belonging to a corporation shall be deemed to be "issued" shares, but not "outstanding" shares. (j) "Stated capital" means, at any particular time, the sum of (1) the p a r value of all shares then issued having a p a r value and (2) the consideration received by the corporation for all shares then.issued without par value, except such part thereof as may have been allocated otherwise than to stated capital in a manner permitted by law, and (3) such amounts not included in clauses (1) or (2) of this paragraph as may have been transferred to the stated capital account of the corporation, whether upon the issue of shares as a share dividend or otherwise, minus such formal reductions from said sum as may have been effected in a manner permitted by law.

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