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Title 15 — Commerce and Trade

Chapter 4 — China Trade

§ 149. Bylaws

Statutory text

The bylaws 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 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.

(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.

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. 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. 852

    Enacted 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.

  2. 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
  1. 1922Sept. 19, 1922, ch. 346, § 9, 42 Stat. 852
  2. 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.)

Parsed from the official OLRC USLM XML in data/usc_all/usc15.xml · release point 119-108 · OLRC build 2026-09-09

USLM identifier /us/usc/t15/s149