§ 151. — Directors.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC151]
TITLE 15--COMMERCE AND TRADE
CHAPTER 4--CHINA TRADE
Sec. 151. Directors
The directors designated in the articles of incorporation shall,
until their successors take office, direct the exercise of all powers of
a China Trade Act corporation except such as are conferred upon the
stockholders by law or by the articles of incorporation or bylaws of the
corporation. Thereafter the directors elected in accordance with the
bylaws of the corporation shall direct the exercise of all powers of the
corporation except such as are so conferred upon the stockholders. In
the exercise of such powers the directors may appoint and remove and fix
the compensation of such officers and employees of the corporation as
they deem advisable.
(Sept. 19, 1922, ch. 346, Sec. 11, 42 Stat. 852.)
