dreamproit/uscode huggingface dataset:
15 U.S.C. § 146 (COMMERCE AND TRADE)
§ 146. General powers of corporation
In addition to the powers granted elsewhere in this chapter, a China Trade Act corporation—
(a) Shall have the right of succession during the existence of the corporation;
(b) Shall have a corporate seal and may, with the approval of the Secretary, alter it;
(c) May sue and be sued;
(d) Shall have the right to transact the business authorized by its articles of incorporation and such further business as is properly connected therewith or necessary and incidental thereto;
(e) May make contracts and incur liabilities;
(f) May acquire and hold real or personal property, necessary to effect the purpose for which it is formed, and dispose of such property when no longer needed for such purposes;
(g) May borrow money and issue its notes, coupon or registered bonds, or other evidences of debt, and secure their payment by a mortgage of its property; and
(h) May establish such branch offices at such places in China as it deems advisable.
(Sept. 19, 1922, ch. 346, § 6, 42 Stat. 851; Feb. 26, 1925, ch. 345, § 6, 43 Stat. 996.)
heading: Editorial Notes
heading: Amendments
text: 1925—Par. (b). Act Feb. 26, 1925, substituted “Shall” for “May”.
heading: Treaty
text: Par. (h) of this section has been affected by the 1943 Treaty between United States of America and the Republic of China, 57 Stat. 767, in which the United States relinquished all extraterritorial jurisdiction and rights in China. See Codification note set out under section 142 of this title.
15 U.S.C. § 146a (COMMERCE AND TRADE)
§ 146a. Jurisdiction of suits by or against China Trade Act corporation
The Federal district courts shall have exclusive original jurisdiction of all suits to which a China Trade Act corporation, or a stockholder, director, or officer thereof in his capacity as such, is a party. Suit against the corporation may be brought in the United States District Court for the District of Columbia or in the Federal district court for any district in which the corporation has an agent and is engaged in doing business.
(Sept. 19, 1922, ch. 346, § 20(a), formerly § 20, 42 Stat. 855; renumbered § 20(a), Feb. 26, 1925, ch. 345, § 10, 43 Stat. 996; June 25, 1936, ch. 804, 49 Stat. 1921; Treaty of Jan. 11, 1943, 57 Stat. 767; June 25, 1948, ch. 646, § 32(a), 62 Stat. 991; May 24, 1949, ch. 139, § 127, 63 Stat. 107.)
heading: Editorial Notes
heading: Codification
text: Section comprises subsec. (a) of section 20 of act Sept. 19, 1922, as amended by act Feb. 26, 1925. Subsec. (b) of section 20 is classified to section 160 of this title.
In the first sentence, the words “(except as provided by the Act entitled ‘An Act creating a United States Court for China and prescribing the jurisdiction thereof,’ approved June 30, 1906, as amended)” have been omitted because that Act (formerly classified to sections 191 to 197, 199, 200, and 202 of Title 22, Foreign Relations and Intercourse) was repealed by act June 25, 1948, ch. 646, § 39, 62 Stat. 992, eff. Sept. 1, 1948.
The provision in the second sentence that suits against the China Trade Act corporation might also be brought in the United States Court for China was omitted as that court is no longer in operation. By the treaty of Jan. 11, 1943, between the United States and China, the United States relinquished extraterritorial rights in China. See Codification note set out under section 142 of this title.
Section was formerly classified to section 53 of Title 28 prior to the general revision and enactment of Title 28, Judiciary and Judicial Procedure, by act June 25, 1948, ch. 646, § 1, 62 Stat. 869.
heading: Statutory Notes and Related Subsidiaries
heading: Change of Name
text: Act June 25, 1948, eff. Sept. 1, 1948, as amended by act May 24, 1949, substituted “United States District Court for the District of Columbia” for “district court of the United States for the District of Columbia”.
Act June 25, 1936, changed name of “Supreme Court of the District of Columbia” to “district court of the United States for the District of Columbia”.
15 U.S.C. § 147 (COMMERCE AND TRADE)
§ 147. Stock; issuance at par value
Each share of the original or any subsequent issue of stock of a China Trade Act corporation shall be issued at not less than par value, and shall be paid for in cash, or in accordance with the provisions of section 148 of this title, in real or personal property which has been placed in the custody of the directors. No such share shall be issued until the amount of the par value thereof has been paid the corporation; and when issued, each share shall be held to be full paid and nonassessable; except that if any share is, in violation of this section, issued without the amount of the par value thereof having been paid to the corporation, the holder of such share shall be liable in suits by creditors for the difference between the amount paid for such share and the par value thereof.
(Sept. 19, 1922, ch. 346, § 7, 42 Stat. 851; Feb. 26, 1925, ch. 345, § 7, 43 Stat. 996.)
heading: Editorial Notes
heading: Amendments
text: 1925—Act Feb. 26, 1925, substituted “not less than par value” for “par value only”.
15 U.S.C. § 148 (COMMERCE AND TRADE)
§ 148. Payment of stock in real or personal property
No share of stock of a China Trade Act corporation shall, for the purposes of section 147 of this title or of subdivision (d) of section 144 of this title, 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 certified to the corporation that such value is not more than the fair market value of the property.
(Sept. 19, 1922, ch. 346, § 8, 42 Stat. 851.)
heading: Editorial Notes
heading: References in Text
text: Subdivision (d) of section 144 of this title, referred to in text, was in the original “paragraph (7) of subdivision (b) of section 4”, which is classified to section 144(b)(7) of this title. Part of the provisions of par. (7) were transferred to subd. (d) of section 144 by act Feb. 26, 1925, ch. 345, §§ 3, 5, 43 Stat. 995.
15 U.S.C. § 149 (COMMERCE AND TRADE)
§ 149. Bylaws
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.
(Sept. 19, 1922, ch. 346, § 9, 42 Stat. 852; Feb. 26, 1925, ch. 345, § 8, 43 Stat. 996.)
heading: Editorial Notes
heading: Amendments
text: 1925—Par. (b). Act Feb. 26, 1925, amended par. (b) generally.
15 U.S.C. § 150 (COMMERCE AND TRADE)
§ 150. Stockholders’ meetings
(a) Time of first meeting; quorum
Within six months after the issuance of the certificate of incorporation of a China Trade Act corporation there shall be held a stockholders’ meeting either at the principal office or a branch office of the corporation. Such meeting shall be called by a majority of the directors named in the articles of incorporation and each stockholder shall be given at least ninety days’ notice of the meeting either in person or by mail. The holders of two-thirds of the voting shares, represented in person or by proxy, shall constitute a quorum at such meetings authorized to transact business. At this meeting or an adjourned meeting thereof a code of bylaws for the corporation shall be adopted by a majority of the voting shares represented at the meeting.
(b) Questions for determination only by stockholders
The following questions shall be determined only by the stockholders at a stockholders’ meeting:
(1) Adoption of the bylaws;
(2) Amendments to the articles of incorporation or bylaws;
(3) Authorization of the sale of the entire business of the corporation or of an independent branch of such business;
(4) Authorization of the voluntary dissolution of the corporation; and
(5) Authorization of application for the extension of the period of duration of the corporation.
(c) Authorization of amendments to articles of incorporation
The adoption of any such amendment or authorization shall require the approval of at least two-thirds of the voting shares. No amendment to the articles of incorporation or authorization for dissolution or extension shall take effect until (1) the corporation files a certificate with the Secretary stating the action taken, in such manner and form as shall be by regulation prescribed, and (2) such amendment or authorization is found and certified by the Secretary to conform to the requirements of this chapter.
(d) Filing of bylaws and amendments and minutes of stockholders’ meetings with registrar
A certified copy of the bylaws and amendments thereof and of the minutes of all stockholders’ meetings of the corporation shall be filed with the registrar.
(Sept. 19, 1922, ch. 346, § 10, 42 Stat. 852; Feb. 26, 1925, ch. 345, § 9, 43 Stat. 996.)
heading: Editorial Notes
heading: Amendments
text: 1925—Subsec. (a). Act Feb. 26, 1925, inserted “, represented in person or by proxy,” in third sentence.
15 U.S.C. § 154 (COMMERCE AND TRADE)
§ 154. Investigations by registrar; revocation of certificate of incorporation
The registrar may, in order to ascertain if the affairs of a China Trade Act corporation are conducted contrary to any provision of this chapter, or any other law, or any treaty of the United States, or the articles of incorporation or bylaws of the corporation, investigate the affairs of the corporation. The registrar, whenever he is satisfied that the affairs of any China Trade Act corporation are or have been so conducted, may institute in the United States Court for China proceedings for the revocation of the certificate of incorporation of the corporation. The court may revoke such certificate if it finds the affairs of such corporation have been so conducted. Pending final decision in the revocation proceedings the court may at any time, upon application of the registrar or upon its own motion, make such orders in respect to the conduct of the affairs of the corporation as it deems advisable.
(Sept. 19, 1922, ch. 346, § 14, 42 Stat. 853.)
heading: Editorial Notes
heading: References in Text
text: United States Court for China, referred to in text, has been abolished. See Codification note set out under section 142 of this title.
15 U.S.C. § 156 (COMMERCE AND TRADE)
§ 156. Dissolution of corporation; trustees
In case of the voluntary dissolution of a China Trade Act corporation or revocation of its certificate of incorporation, the directors of the corporation shall be trustees for the creditors and stockholders of the corporation; except that upon application to the United States Court for China by any interested party, or upon the motion of any court of competent jurisdiction in any proceeding pending before it, the court may in its discretion appoint as the trustees such persons, other than the directors, as it may determine. The trustees are invested with the powers, and shall do all acts, necessary to wind up the affairs of the corporation and divide among the stockholders according to their respective interests the property of the corporation remaining after all obligations against it have been settled. For the purposes of this section the trustees may sue and be sued in the name of the corporation and shall be jointly and severally liable to the stockholders and creditors of the corporation to the extent of the property coming into their hands as trustees.
(Sept. 19, 1922, ch. 346, § 16, 42 Stat. 854.)
heading: Editorial Notes
heading: References in Text
text: United States Court for China, referred to in text, has been abolished. See Codification note set out under section 142 of this title.
15 U.S.C. § 160 (COMMERCE AND TRADE)
§ 160. Maintenance of agent for service
Every China Trade Act corporation shall maintain in the District of Columbia a person as its accredited agent, upon whom legal process may be served, in any suit to be brought in the United States District Court for the District of Columbia, and who is authorized to enter an appearance in its behalf. In the event of the death or inability to serve, or the resignation or removal, of such person, such corporation shall, within such time as the Secretary by regulation prescribes, appoint a successor. Such corporation shall file with the Secretary a certified copy of each power of attorney appointing a person under this section, and a certified copy of the written consent of each person so appointed.
(Sept. 19, 1922, ch. 346, § 20(b), as added Feb. 26, 1925, ch. 345, § 10, 43 Stat. 996; June 25, 1936, ch. 804, 49 Stat. 1921; June 25, 1948, ch. 646, § 32(a), 62 Stat. 991; May 24, 1949, ch. 139, § 127, 63 Stat. 107.)
heading: Editorial Notes
heading: Codification
text: Section comprises subsec. (b) of section 20 of act Sept. 19, 1922, as added by act Feb. 26, 1925. Subsec. (a) of section 20 is classified to section 146a of this title.
heading: Statutory Notes and Related Subsidiaries
heading: Change of Name
text: Act June 25, 1948, eff. Sept. 1, 1948, as amended by act May 24, 1949, substituted “United States District Court for the District of Columbia” for “district court of the United States for the District of Columbia.”
Act June 25, 1936, changed name of “Supreme Court of the District of Columbia” to “district court of the United States for the District of Columbia”.
15 U.S.C. § 172 (COMMERCE AND TRADE)
§ 172. Transfer of duties of Department of Labor; special investigations
The duties of the Department of Labor, or Bureau of Labor, “to ascertain, at as early a date as possible, and whenever industrial changes shall make it essential, the cost of producing articles at the time dutiable in the United States, in leading countries where such articles are produced, by fully specified units of production, and under a classification showing the different elements of cost, or approximate cost, of such articles of production, including the wages paid in such industries per day, week, month, or year, or by the piece; and hours employed per day; and the profits of manufacturers and producers of such articles; and the comparative cost of living, and the kind of living; what articles are controlled by trusts or other combinations of capital, business operations, or labor, and what effect said trusts, or other combinations of capital, business operations, or labor have on production and prices”, are, as of August 23, 1912, transferred to and shall be discharged by the Bureau of Foreign and Domestic Commerce, and it shall be also the duty of said Bureau of Foreign and Domestic Commerce to make such special investigation and report on particular subjects when required to do so by the President or either House of Congress.
(Aug. 23, 1912, ch. 350, § 1, 37 Stat. 407.)
heading: Editorial Notes
heading: References in Text
text: The quoted language of this section was originally enacted by act June 13, 1888, ch. 389, § 7, 25 Stat. 183, which charged the duties to the Commissioner of Labor.
heading: Executive Documents
heading: Transfer of Functions
text: Functions of all other officers of Department of Commerce and functions of all agencies and employees of such Department, with a few exceptions, transferred to Secretary of Commerce, with power vested in him to authorize their performance or performance of any of his functions by any such officers, agencies, and employees, by Reorg. Plan No. 5 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3174, 64 Stat. 1263, set out in the Appendix to Title 5, Government Organization and Employees. Through internal reorganizations, functions of Bureau of Foreign and Domestic Commerce have been reassigned to other offices of Department of Commerce.
(COMMERCE AND TRADE)
§§ 173, 174. Repealed. Pub. L. 87–826, § 3, Oct. 15, 1962, 76 Stat. 953
text: Section 173, R.S. § 336; acts Feb. 14, 1903, ch. 552, § 10, 32 Stat. 829; Aug. 23, 1912, ch. 350, § 1, 37, Stat. 407; Mar. 4, 1913, ch. 141, § 1, 37 Stat. 736; Jan. 25, 1919, ch. 10, 40 Stat. 1055; Mar. 1, 1919, ch. 86, 40 Stat. 1256, required annual reports on statistics of commerce and navigation. See section 301 et seq. of Title 13, Census.
text: Section 174, R.S. § 337; acts Feb. 14, 1903, ch. 552, § 10, 32 Stat. 829; Aug. 23, 1912, ch. 350, § 1, 37 Stat. 407; Mar. 4, 1913, ch. 141, § 1, 37 Stat. 736; Mar. 1, 1919, ch. 86, 40 Stat. 1256; Aug. 31, 1961, Pub. L. 87–191, § 2, 75 Stat. 419, prescribed regulations required to be observed by collectors of customs. See section 301 et seq. of Title 13, Census.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of Repeal
text: Repeal effective 180 days after Oct. 15, 1962, except that the last sentence of par. Fifth of section 174 of this title shall be repealed Oct. 15, 1962, see section 4 of Pub. L. 87–826, set out as a note under section 301 of Title 13, Census.
heading: Savings Provision
text: Section 3 of Pub. L. 87–826 provided in part that any rights or liabilities existing under sections 173, 174, 177, 179, 181, 184 to 187, and 193 of this title, sections 92 and 95 of former Title 46, Shipping, and section 1486 of Title 48, Territories and Insular Possessions, and any proceedings instituted under or growing out of, any of such sections or parts thereof, shall not be affected by the repeal of such sections.
15 U.S.C. § 175 (COMMERCE AND TRADE)
§ 175. Additional duties of Bureau
It shall be the province and duty of the Bureau of Foreign and Domestic Commerce, under the direction of the Secretary of Commerce, to foster, promote, and develop the various manufacturing industries of the United States, and markets for the same at home and abroad, domestic and foreign, by gathering, compiling, publishing, and supplying all available and useful information concerning such industries and such markets, and by such other methods and means as may be prescribed by the Secretary of Commerce or provided by law.
(Feb. 14, 1903, ch. 552, § 5, 32 Stat. 827; Apr. 5, 1906, ch. 1366, § 3, 34 Stat. 100; Aug. 23, 1912, ch. 350, § 1, 37 Stat. 407; Mar. 4, 1913, ch. 141, § 1, 37 Stat. 736; Aug. 13, 1946, ch. 957, title XI, § 1131(23), 60 Stat. 1037.)
heading: Editorial Notes
heading: Amendments
text: 1946—Act Aug. 13, 1946, repealed last sentence relating to duties of consular officers with respect to the Bureau.
heading: Statutory Notes and Related Subsidiaries
heading: Change of Name
text: Act Mar. 4, 1913, substituted the “Secretary of Commerce” for “Secretary of Commerce and Labor”.
heading: Effective Date of 1946 Amendment
text: Amendment by act Aug. 13, 1946, effective three months from Aug. 13, 1946, see section 1141 of that act.
heading: Transfer of Functions
text: Act Aug. 23, 1912, transferred certain duties of Department or Bureau of Labor to Bureau of Foreign and Domestic Commerce.
Act Apr. 5, 1906, abolished the grade of commercial agent and commercial agent’s function of helping to gather foreign trade information, reference to which formerly appeared in the last sentence of this section. Such last sentence was subsequently repealed by Act Aug. 13, 1946.
heading: Executive Documents
heading: Transfer of Functions
text: For transfer of functions of Bureau of Foreign and Domestic Commerce, see note set out under section 172 of this title.
15 U.S.C. § 176 (COMMERCE AND TRADE)
§ 176. Collection of commercial statistics
A purpose of the Bureau of Foreign and Domestic Commerce is the collection, arrangement, and classification of such statistical information as may be procured, showing, or tending to show, each year the condition of the manufactures, domestic trade, currency, and banks of the several States and Territories.
(R.S. § 335; Feb. 27, 1877, ch. 69, § 1, 19 Stat. 241; Aug. 23, 1912, ch. 350, § 1, 37 Stat. 407.)
heading: Editorial Notes
heading: Codification
text: R.S. § 335 derived from Res. June 15, 1844, No. 16, 5 Stat. 719.
heading: Amendments
text: 1877—Act Feb. 27, 1877, struck out “agriculture” before “manufactures”.
heading: Statutory Notes and Related Subsidiaries
heading: Transfer of Functions
text: Act Aug. 23, 1912, transferred certain duties of Department or Bureau of Labor to Bureau of Foreign and Domestic Commerce.
heading: Executive Documents
heading: Transfer of Functions
text: For transfer of functions of Bureau of Foreign and Domestic Commerce, see note set out under section 172 of this title.
15 U.S.C. § 176a (COMMERCE AND TRADE)
§ 176a. Confidential nature of information furnished Bureau
Any statistical information furnished in confidence to the Bureau of Foreign and Domestic Commerce by individuals, corporations, and firms shall be held to be confidential, and shall be used only for the statistical purposes for which it is supplied. Except as provided in subchapter III of chapter 35 of title 44, the Director of the Bureau of Foreign and Domestic Commerce shall not permit anyone other than the sworn employees of the Bureau to examine such individual reports, nor shall he permit any statistics of domestic commerce to be published in such manner as to reveal the identity of the individual, corporation, or firm furnishing such data.
(Jan. 27, 1938, ch. 11, § 1, 52 Stat. 8; Pub. L. 107–347, title V, § 526(a), Dec. 17, 2002, 116 Stat. 2969; Pub. L. 115–435, title III, § 302(c)(4), Jan. 14, 2019, 132 Stat. 5553.)
heading: Editorial Notes
heading: Amendments
text: 2019—Pub. L. 115–435 substituted “subchapter III of chapter 35 of title 44” for “the Confidential Information Protection and Statistical Efficiency Act of 2002”.
2002—Pub. L. 107–347 substituted “Except as provided in the Confidential Information Protection and Statistical Efficiency Act of 2002, the” for “The”.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 2019 Amendment
text: Amendment by Pub. L. 115–435 effective 180 days after Jan. 14, 2019, see section 403 of Pub. L. 115–435, set out as a note under section 306 of Title 5, Government Organization and Employees.
heading: Transitional and Savings Provisions
text: For transitional and savings provisions related to the amendment of this section and other provisions of law by title III of Pub. L. 115–435, see section 302(d) of Pub. L. 115–435, set out as a note under section 3561 of Title 44, Public Printing and Documents.
heading: Executive Documents
heading: Transfer of Functions
text: For transfer of functions of Bureau of Foreign and Domestic Commerce, see note set out under section 172 of this title.
15 U.S.C. § 176b (COMMERCE AND TRADE)
§ 176b. Repealed. June 25, 1948, ch. 645, § 21, 62 Stat. 862
text: Section, act Jan. 27, 1938, ch. 11, § 2, 52 Stat. 8, related to disclosure by employee of information. See section 1905 of Title 18, Crimes and Criminal Procedure.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of Repeal
text: Section 20 of act June 25, 1948, provided that the repeal of this section shall be effective Sept. 1, 1948.