CO129-470 - Public Offices - 1921 — Page 616

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or to the issue, sale, transfer, or redemption of its stocks,

2 bonds, or other evidences of indebtedness; and

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1 the affairs of the corporation until their successors are clected

2 by the stockholders in accordance with the by-laws of the

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(3) May do in the United States and elsewhere any

3 corporation. A majority of the directors and a majority of

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act which is approved by the Secretary of Commerce as nec-

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such officers shall be citizens of the United States;

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essary to the establishment and conduct of any business or

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(g) The fact that an amount equal to 25 per centum

6 enterprise in which it is authorized to engage.

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SEC. 5. That the incorporators shall make application for

a charter and file it with the Secretary of Commerce in such

manner and in such form as shall be by regulation prescribed.

10 The application shall state--

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(a) The name of the proposed corporation, which shall

12 end with the legend," Federal Inc. U. S. A.";

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(b) The location of its principal office, which shall be

in China;

6 of the amount of capital stock has been in good faith sub-

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scribed and actually paid in cash, personal property, tangible

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or intangible, or real property, and is in the custody of the

9 individuals specified in subdivision (f); and the name and

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address of each such subscriber. If any part of such pay-

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ment is made in property other than cash, no charter shall be

issued unless the Secretary of Commerce finds that the

13 property is described and its value stated in the same manner

15 market value, and is at least equal to the difference between

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as provided in section 9. and that such value is the fair

(c) The purpose for which it is formed and the

16 character of the business in which it is to engage;

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(d) The amount of capital stock, the designation of

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25 per centum of the capital stock and the amount of cash, if any, so paid in; and

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each class of stock and the terms upon which it is to be

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(b) The time and place of the first stockholders'

19 meeting, which shall be not later than one year after the

issuance of this charter.

19 issued, and the number and par value of the shares of each

20 class of stock;

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(e) The duration of the corporation, which may be

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22 permanent or for a limited time;

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(f) The names, addresses, and designations of the

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SEC. 6. That no corporation shall have or use a corporate

name which, in the opinion of the Secretary of Commerce,

23 is likely to mislead the public. No corporation shall main-

directors and of the president, treasurer, and secretary, or

25 corresponding officers, who are hereby authorized to manage

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tain any office, including its principal, and home and braneli

25 offices, if any, at any place other than in China.

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