Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
42 lines
2.1 KiB
Markdown
42 lines
2.1 KiB
Markdown
---
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type: "LegalText"
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title: "15 U.S.C. § 148"
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description: "Payment of stock in real or personal property"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 15
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title_name: "COMMERCE AND TRADE"
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chapter_number: "4"
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chapter_name: "CHINA TRADE"
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section: "148"
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citation: "15 U.S.C. § 148"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip"
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source_identifier: "/us/usc/t15/s148"
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source_file: "data/legal/raw/us/code/title-15/usc15.xml"
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source_hash: "f3cd1473d2b49c33c042b9769c35781c4f55284cb6e8abb6b2c805836ecf07e7"
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raw_snapshot_hash: "6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059"
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text_hash: "a4d4449df3700ebbeb54687d9f174f9e2c2c6f2f2758a220d91601876ae17d35"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 15 U.S.C. § 148 - Payment of stock in real or personal property
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## Text
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No share of stock of a China Trade Act corporation shall, for the purposes of section 147 of this title or of subdivision (d) of section 144 of this title, be held paid in real or personal property unless (1) a certificate describing the property and stating the value at which it is to be received has been filed by the corporation with the Secretary or the registrar in such manner as shall be by regulation prescribed, and a fee to be fixed by the Secretary or the registrar, respectively, to cover the cost of any necessary investigation has been paid, and (2) the Secretary or the registrar, as the case may be, finds and has certified to the corporation that such value is not more than the fair market value of the property.
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(Sept. 19, 1922, ch. 346, § 8, 42 Stat. 851.)
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## Notes
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Editorial Notes
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References in TextSubdivision (d) of section 144 of this title, referred to in text, was in the original “paragraph (7) of subdivision (b) of section 4”, which is classified to section 144(b)(7) of this title. Part of the provisions of par. (7) were transferred to subd. (d) of section 144 by act Feb. 26, 1925, ch. 345, §§ 3, 5, 43 Stat. 995.
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