15 U.S.C. § 153 — Dividends

submitted 104 years ago by ch. 346 to r/title-15-COMMERCE-AND-TRADE · 19 words · no verdicts yet

in plain englishAI-generated · not legal advice

A China Trade Act corporation can only pay dividends out of its surplus profits. It cannot pay dividends from any other source of money.

Any dividend a China Trade Act corporation declares must come entirely from the surplus profits of its business. It cannot come from any other source.

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

Dividends declared by a China Trade Act corporation shall be derived wholly from the surplus profits of its business.

Source credit: (Sept. 19, 1922, ch. 346, § 13, 42 Stat. 853.)

history & why it existsrecord from the source credit

1922Enacted · Act of Sept. 19, 1922, ch. 346 · 42 Stat. 853

A history note hasn’t been published yet. The record shows enactment by ch. 346 on 1922-09-19.

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