republic-os/legal/us/code/title-48/chapter-4/section-752.md

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LegalText	48 U.S.C. § 752	Corporate real estate holdings	us	united_states_code	code_section	48	TERRITORIES AND INSULAR POSSESSIONS	4	PUERTO RICO	752	48 U.S.C. § 752	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc48@119-100.zip	/us/usc/t48/s752	data/legal/raw/us/code/title-48/usc48.xml	1d680caa8bb8a6267d6b3d76240934950450713f8b6d2905bdb07a5b64fe49e8	2f9a72ec272e6666d7f55f52cc3186aefc6368ca4cc2b9053a531de2fb9288c2	036162cd444c832ddc1741352bda596ead965ed6541d3315634f95bb4b8c15dd	2026-07-04	official	legal us-code

48 U.S.C. § 752 - Corporate real estate holdings

Text

No corporation shall be authorized to conduct the business of buying and selling real estate or be permitted to hold or own real estate except such as may be reasonably necessary to enable it to carry out the purposes for which it was created, and every corporation authorized after May 1, 1900, to engage in agriculture shall by its charter be restricted to the ownership and control of not to exceed five hundred acres of land; and this provision shall be held to prevent any member of a corporation engaged in agriculture from being in any wise interested in any other corporation engaged in agriculture. Corporations, however, may loan funds upon real estate security, and purchase real estate when necessary for the collection of loans, but they shall dispose of real estate so obtained within five years after receiving the title. Corporations not organized in Puerto Rico, and doing business therein, shall be bound by the provisions of this section so far as they are applicable.

(May 1, 1900, No. 23, § 3, 31 Stat. 716; Mar. 2, 1917, ch. 145, § 39, 39 Stat. 964; May 17, 1932, ch. 190, 47 Stat. 158; July 3, 1950, ch. 446, § 5(2), 64 Stat. 320.)

Notes

Editorial Notes

Codification Section is comprised of section 3 (less first sentence) of act May 1, 1900. The first sentence of such section 3 was superseded by section 39 of act Mar. 2, 1917. Prior to repeal of such section 39 by act July 3, 1950, the sentence read: “That all franchises, privileges or concessions granted under section thirty-two of said Act [act Apr. 12, 1900, ch. 191, 31 Stat. 83] shall provide that the same shall be subject to amendment, alteration, or repeal; shall forbid the issue of stock or bonds, except in exchange for actual cash, or property at a fair valuation, equal in amount to the par value of the stock or bonds issued; shall forbid the declaring of stock or bond dividends; and, in the case of public-service corporations, shall provide for the effective regulation of the charges thereof and for the purchase or taking by the public authorities of their property at a fair and reasonable valuation.” Section was not enacted as a part of the Puerto Rican Federal Relations Act which comprises this chapter.

Statutory Notes and Related Subsidiaries

Change of Name “Puerto Rico” substituted in text for “Porto Rico” pursuant to act May 17, 1932, which is classified to section 731a of this title.

RepealsSection 5(2) of act July 3, 1950, repealed section 39 of act Mar. 2, 1917, cited as a credit to this section, eff. July 25, 1952. See Effective Date of Repeal note set out below.

Effective Date of RepealRepeal of section 39 of act Mar. 2, 1917, effective July 25, 1952, see note set out under section 732 of this title.