Title 15 — Commerce and Trade
Chapter 4 — China Trade
§ 149. Bylaws
Statutory text
The bylaws may provide—
The time, place, manner of calling, giving notice, and conduct of, and determination of a quorum for, the meetings, annual or special, of the stockholders or directors;
The number, qualifications, and manner of choosing and fixing the tenure of office and compensation of all directors; but the number of such directors shall be not less than three, and a majority of the directors, and the president and the treasurer, or each officer holding a corresponding office, shall, during their tenure of office, be citizens of the United States resident in China.
The manner of calling for and collecting payments upon shares of stock, the penalties and forfeitures for nonpayment, the preparation of certificates of the shares, the manner of recording their sale or transfer, and the manner of their representation at stockholders’ meetings.
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.
China Trade Act, 1922
Pub. L. 67–346 § 9 · 42 Stat. 849
Enacted · 15 U.S.C. § 149
Sept. 19, 1922, ch. 346, § 9, 42 Stat. 852
Source evidence
Code source credit
Sept. 19, 1922, ch. 346, § 9, 42 Stat. 852Enacted provision · exact public law section
Sec. 9. by-laws. The by-laws may provide— (a) The time, place, manner of calling, giving notice, and conduct of, and determination of a quorum for, the meetings, annual or special, of the stockholders or directors; (b) The number, qualifications, and manner of choosing and fixing the tenure of office and compensation of all directors; but the number of such directors shall be not less than three, and a majority of the directors and a majority of the officers holding the office of president, treasurer, or secretary, or a corresponding office, shall be citizens of the United States resident in China; and (c) The manner of calling for and collecting payments upon shares of stock, the penalties and forfeitures for nonpayment, the preparation of certificates of the shares, the manner of recording their sale or transfer, and the manner of their representation at stockholders’ meetings.Public Law not identified
Amended · 15 U.S.C. § 149(b)
Par. (b). Act Feb. 26, 1925, amended par. (b) generally
Unresolved: No Public Law or Statutes at Large citation in the Code source.
Source evidence
Code amendment note
Par. (b). Act Feb. 26, 1925, amended par. (b) generally.
1 of 2 references resolved to an enrolled provision · 1 unresolved
Editorial Notes
Amendments
1925—Par. (b). Act , amended par. (b) generally.
Credits
1922–1925 · 2 acts
- 1922Sept. 19, 1922, ch. 346, § 9, 42 Stat. 852
- 1925Feb. 26, 1925, ch. 345, § 8, 43 Stat. 996.
Show as published
(Sept. 19, 1922, ch. 346, § 9, 42 Stat. 852; Feb. 26, 1925, ch. 345, § 8, 43 Stat. 996.)