Douglas daily dispatch., 1926-04-15

are organized for the acquisition of
rural properties for agricultural pur
poses, or which are organized to effect
such acquisition, are subject to the
following regulations:
! Cd Acquisition cannot be effected
when so per cent or more of the cap
ital or partnership interest is owned
! by foreigners.
CID Should the corporation be based
on shares these must have the char
/ acter of being nomnative, transferable
! through ordinary cession or simple en-
dorsement, and will not be registered
i when any change in the documents or
shares is made in favor of foreigners,
nor will the alterations have any eff
feet whatever when by virtue of the
same so per cent or more of the shares
may be in the hands of foreigners
Article 8. In accordance with section
4 of article q of the constitution,
Mexican corporations to which it re-
! fors, constituted to exploit whatever
ustry-manufacturing mines, pc
troleum, or any other Industry which
is not agrcultural-even though they
NAV be constituted in whole or in part
by foreigners, may acquire, possess, or
administer lands within or beyond the
| prohibited zone, but only to the extent
that is strictly needed for the carrying
out or operation of the objects indi-
Gated and which the executive of the
union or those of the states may fix
Lin each case, but always with the pre-
yious permission which is specified in
\ article 2 of this law.
Article 8. Foreigners who may have
acquired, previous to the PRONUNCIATION
OF the law hereby being regulated. but
after .the first of May, 1917, so per
cent or more of the interest or the cap
ital stock of whatever Mexican corr
porations owning rural properties for
agricultural purposes, may preserve
such interests until their Death In
the case of foreign corporations pos
sessing so per cent or more of the in
terest or capital stock in one of the
aforementioned Mexican corporations,
any title secured before the promulga"
ton of the law referred to, but after
the 1st of May, 1917, said foreign cor.
poration may continue this participa-
ton il it does not exceed so per cent;
/ but is obliged to relinquish the excess
Ewithin the limit of 10 years, counting
~
Article 10. In the case OF article
of the law, if the holder of the rights
therein referred to be a foreign cor
poration or a Mexican corporation with
foreign stockholders, these rights may
be conserved by the corporation for
the full time OF it's existence, in ac-
cordance with it's constitution and by
laws.
Article II. In the cases mentioned
in the second paragraph of article of
the law, if it IS impossible to make
the transfer within the time dimit
lstated, because, for instance, of law
suit involving the nullity of will,
and these proceedings do not terminate
within five years counting from the
date of the death of the testator, or
because of any other circumstance
which makes it impossible, this limit
may be extended whenever this cir
cumstance may DE unblamable, the de-
partment of foreign relations is au-
thorized to prorogue this limit for the
term necessary to eliminate the diff
ficulty. The department of foreign re-
lations shall have the same power in
any of the cases appearing in the fol-
lowing paragraph.
Article IL. Whenever it is obliga-
tory, in accordance with these regula-
tions and the law to which they re-
fer, the alienation of real estate, con-
cessions or interests or certain social
participations, a-ter the limit set forth
for the alienation and extension men
toned in article 2peNyithout the prop
rietor having effected the alienation,
the department. of foreign relations
shall advise the attorney general of
the matter, so that he may institute
the proper judicial proceedings, in ac-
| cordance with the code of federal pro-
cedure, until effecting the sale, by auc-
tion, OF the properties in question. This
sale shall always be carried out by
| order of the courts. The proceeds Of
the sale, after deducting the expenses
| of the proceedings, will be turned over
/ to the foreign owner or to whoever
! represents his rights, and if he refuses
to receive the same it shall be placed
on deposit.
Article 13. The dispositions of ar
ticle of the law and those relating.
| to these regulations shall have no eff
| feet upon contracts of colonization en-
] tered into by the federal government
prior to the PRONUNCIATION of the law.
Neither will they affect contracts
which the government may make in
the future for the division of large
tracks for colonization purposes.
| Article IA. The manifestations which
| are referred to in article of these
regulations must contain:
/; Cd Name, surname, or name of the
! partnership, and the home address of
/ tho nwYar m. owners
| CID The character and description
of tho property or rights therein man
| ifested.
| Gid The description of the title of
/ acquisition necessary for purposes of
/ Identification, including the date.
! Article 15. The forms for the mani
| festation shall be distributed by the
municipal presidents throughout the
republic in sufficient number so that
all the foreigners residing in the re-
| spective districts may have an oppor-
! tunity to enter their manifestations.
The manifestations must be submitted
in duplicate to the department of for
| eign relations, which shall return to
the manifestant, one copy, with the
| date of it's presentation, so that he may