§ 146. — General powers of corporation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC146]
TITLE 15--COMMERCE AND TRADE
CHAPTER 4--CHINA TRADE
Sec. 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, Sec. 6, 42 Stat. 851; Feb. 26, 1925, ch. 345,
Sec. 6, 43 Stat. 996.)
Amendments
1925--Par. (b). Act Feb. 26, 1925, substituted ``Shall'' for
``May''.
Treaty
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.
