§ 148. Payment of stock in real or personal property

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1922

   China Trade Act, 1922

   Pub. L. 67–346 § 8 · 42 Stat. 849

   Enacted · 15 U.S.C. § 148

   (Sept. 19, 1922, ch. 346, § 8, 42 Stat. 851.)

   Source evidence

   Code source credit
   (Sept. 19, 1922, ch. 346, § 8, 42 Stat. 851.)

   Enacted provision · exact public law section
   Sec. 8. No share of stock of a China Trade Act corporation shall, Restriction on payments for, in realor personal property. for the purposes of section 7 or of paragraph (7) of subdivision (b) of section 4, be held paid in real or personal property unless (1) a certificate describing the property and stating the value at which it is to be received has been filed by the corporation with the Secretary or the registrar in such manner as shall be by regulation prescribed, and a fee to be fixed by the Secretary or the registrar, respectively, to cover the cost of any necessary investigation has been paid, and (2) the Secretary or the registrar, as the case may be, finds and has Certificate of value required. certified to the corporation that such value is not more than the fair market value of the property.

1 of 1 references resolved to an enrolled provision