15 USC 146 - General powers of corporation

U.S Code last checked for updates: May 08, 2024

§ 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.)

cite as: 15 USC 146