15-U.S.C.-147
§147 – Stock; Issuance At Par Value
Pathway
Title 15 > Chapter 4 > Section 147
Details
- Reference: Section 147
- Legend: §147 – Stock; Issuance At Par Value
- USCode Year: 2013
Provision Content
Each share of the original or any subsequent issue of stock of a China Trade Act corporation shall be issued at not less than par value, and shall be paid for in cash, or in accordance with the provisions of section 148 of this title, in real or personal property which has been placed in the custody of the directors. No such share shall be issued until the amount of the par value thereof has been paid the corporation; and when issued, each share shall be held to be full paid and nonassessable; except that if any share is, in violation of this section, issued without the amount of the par value thereof having been paid to the corporation, the holder of such share shall be liable in suits by creditors for the difference between the amount paid for such share and the par value thereof.
(Sept. 19, 1922, ch. 346, §7, 42 Stat. 851; Feb. 26, 1925, ch. 345, §7, 43 Stat. 996.)
Amendments
1925—Act Feb. 26, 1925, substituted not less than par value for par value only.
U.S. Encyclopedia of Law Coverage
15-U.S.C.-141 in the Legal Encyclopedia: Trade Law
In this entry about 15-U.S.C.-141, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.
Chapter 7 – Exclusion of Chinese in the Legal Encyclopedia: China
In this entry about Chapter 7 – Exclusion of Chinese, find legal reference material, bibliographies and premiere content related to china in the American Encyclopedia of Law, presenting a comprehensive view of the United States china-specific issues, written by authorities in the field.
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