2009 US Code
Title 15 - COMMERCE AND TRADE
CHAPTER 4 - CHINA TRADE
Sec. 150 - Stockholders’ meetings
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 3, Title 15 - COMMERCE AND TRADE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 4 - CHINA TRADE Sec. 150 - Stockholders’ meetings |
| Contains | section 150 |
| Date | 2009 |
| Laws in Effect as of Date | February 1, 2010 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Sept. 19, 1922, ch. 346, §10, 42 Stat. 852; Feb. 26, 1925, ch. 345, §9, 43 Stat. 996. |
| Statutes at Large References | 42 Stat. 852 43 Stat. 996 |
§150. Stockholders’ meetings (a) Time of first meeting; quorum
Within six months after the issuance of the certificate of incorporation of a China Trade Act corporation there shall be held a stockholders’ meeting either at the principal office or a branch office of the corporation. Such meeting shall be called by a majority of the directors named in the articles of incorporation and each stockholder shall be given at least ninety days’ notice of the meeting either in person or by mail. The holders of two-thirds of the voting shares, represented in person or by proxy, shall constitute a quorum at such meetings authorized to transact business. At this meeting or an adjourned meeting thereof a code of bylaws for the corporation shall be adopted by a majority of the voting shares represented at the meeting.
(b) Questions for determination only by stockholdersThe following questions shall be determined only by the stockholders at a stockholders’ meeting:
(1) Adoption of the bylaws;
(2) Amendments to the articles of incorporation or bylaws;
(3) Authorization of the sale of the entire business of the corporation or of an independent branch of such business;
(4) Authorization of the voluntary dissolution of the corporation; and
(5) Authorization of application for the extension of the period of duration of the corporation.
(c) Authorization of amendments to articles of incorporationThe adoption of any such amendment or authorization shall require the approval of at least two-thirds of the voting shares. No amendment to the articles of incorporation or authorization for dissolution or extension shall take effect until (1) the corporation files a certificate with the Secretary stating the action taken, in such manner and form as shall be by regulation prescribed, and (2) such amendment or authorization is found and certified by the Secretary to conform to the requirements of this chapter.
(d) Filing of bylaws and amendments and minutes of stockholders’ meetings with registrarA certified copy of the bylaws and amendments thereof and of the minutes of all stockholders’ meetings of the corporation shall be filed with the registrar.
(Sept. 19, 1922, ch. 346, §10, 42 Stat. 852; Feb. 26, 1925, ch. 345, §9, 43 Stat. 996.)
Amendments1925—Subsec. (a). Act Feb. 26, 1925, inserted “, represented in person or by proxy,” in third sentence.
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.
