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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 15 U.S.C. § 149 Bylaws us united_states_code code_section 15 COMMERCE AND TRADE 4 CHINA TRADE 149 15 U.S.C. § 149 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip /us/usc/t15/s149 data/legal/raw/us/code/title-15/usc15.xml 1961a015a0a8e28a4d2ae6257c41df6aa98da3ecd36e3c94a8a2fe989faff53a 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 9d6c17f48ded05c82868c18f0df34da30f249bf85fd7870acddf6650c7982ffe 2026-07-04 official
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15 U.S.C. § 149 - Bylaws

Text

The bylaws may provide—

(a) The time, place, manner of calling, giving notice, and conduct of, and determination of a quorum for, the meetings, annual or special, of the stockholders or directors;

(b) The number, qualifications, and manner of choosing and fixing the tenure of office and compensation of all directors; but the number of such directors shall be not less than three, and a majority of the directors, and the president and the treasurer, or each officer holding a corresponding office, shall, during their tenure of office, be citizens of the United States resident in China.

(c) The manner of calling for and collecting payments upon shares of stock, the penalties and forfeitures for nonpayment, the preparation of certificates of the shares, the manner of recording their sale or transfer, and the manner of their representation at stockholders meetings.

(Sept. 19, 1922, ch. 346, § 9, 42 Stat. 852; Feb. 26, 1925, ch. 345, § 8, 43 Stat. 996.)

Notes

Editorial Notes

Amendments1925—Par. (b). Act Feb. 26, 1925, amended par. (b) generally.