15 U.S.C. § 144a — Incorporation fee for perpetual existence

submitted 88 years ago by ch. 696 to r/title-15-COMMERCE-AND-TRADE · 70 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lets a China Trade Act corporation that existed on June 25, 1938 apply to the Secretary of Commerce to exist forever. The corporation must ask to amend its charter and pay a fee equal to the original incorporation fee. Once that application and fee arrive, the Secretary must approve it and amend the charter.

This section applies to a "China Trade Act corporation" that already existed on June 25, 1938. Such a corporation can make its existence last forever, but only by applying to the Secretary of Commerce to amend its charter for that purpose, and by paying a fee equal to the original incorporation fee. Once the Secretary receives the application and the required fee, the Secretary must approve the application. The corporation's charter is then amended accordingly, so the corporation may exist perpetually.

the actual law source: uscode.house.gov ↗public domain

Any China Trade Act corporation existing on June 25, 1938, may make its existence perpetual only upon application to the Secretary of Commerce to amend its charter in that respect and upon payment of a fee equivalent to the incorporation fee. Upon receipt of such application and the payment of such prescribed fee, the Secretary shall approve such application and the charter of the corporation shall be amended accordingly.

Source credit: (June 25, 1938, ch. 696, § 2, 52 Stat. 1196.)

history & why it existsrecord from the source credit

1938Enacted · Act of June 25, 1938, ch. 696 · 52 Stat. 1196

A history note hasn’t been published yet. The record shows enactment by ch. 696 on 1938-06-25.

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