United States Code

USC most recently checked for updates: Sep 28, 2020

§ 146.
General powers of corporation
In addition to the powers granted elsewhere in this chapter, a China Trade Act corporation—
Shall have the right of succession during the existence of the corporation;
Shall have a corporate seal and may, with the approval of the Secretary, alter it;
May sue and be sued;
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;
May make contracts and incur liabilities;
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;
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
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