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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. § 151 Directors us united_states_code code_section 15 COMMERCE AND TRADE 4 CHINA TRADE 151 15 U.S.C. § 151 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/s151 data/legal/raw/us/code/title-15/usc15.xml 59693cdad4e186dbae6574a91c55315b84f05edce0ee82a8d845da68fdab0464 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 489e6e770d258cdf749dd57138d3e4c87c960bc519826c3485f3393498d56463 2026-07-04 official
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15 U.S.C. § 151 - Directors

Text

The directors designated in the articles of incorporation shall, until their successors take office, direct the exercise of all powers of a China Trade Act corporation except such as are conferred upon the stockholders by law or by the articles of incorporation or bylaws of the corporation. Thereafter the directors elected in accordance with the bylaws of the corporation shall direct the exercise of all powers of the corporation except such as are so conferred upon the stockholders. In the exercise of such powers the directors may appoint and remove and fix the compensation of such officers and employees of the corporation as they deem advisable.

(Sept. 19, 1922, ch. 346, § 11, 42 Stat. 852.)