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15 U.S.C. § 63Acquisition of stock of export trade corporation

submitted 108 years ago by ch. 50 to r/title-15-COMMERCE-AND-TRADE · 74 words · no verdicts yet

in plain englishAI-generated · not legal advice

A law against buying up competitors' stock (section 18) doesn't stop a corporation from owning stock in an export-trade-only corporation. That's fine unless the ownership would restrain trade or substantially weaken competition within the U.S.

This section carves out an exception to section 18 of this title, which normally restricts one corporation from acquiring another's stock. It says section 18 should not be read to forbid a corporation from acquiring or owning all or part of the stock or capital of another corporation, as long as that other corporation was organized solely to engage in export trade and is actually engaged solely in that export trade. But this exception has a limit: it doesn't apply if the effect of the acquisition or ownership would be to restrain trade or substantially lessen competition within the United States.
the actual law source: uscode.house.gov ↗public domain

Nothing contained in section 18 of this title shall be construed to forbid the acquisition or ownership by any corporation of the whole or any part of the stock or other capital of any corporation organized solely for the purpose of engaging in export trade, and actually engaged solely in such export trade, unless the effect of such acquisition or ownership may be to restrain trade or substantially lessen competition within the United States.

Source credit: (Apr. 10, 1918, ch. 50, § 3, 40 Stat. 517.)

history & why it existsrecord from the source credit
  • 1918Enacted · Act of Apr. 10, 1918, ch. 50 · 40 Stat. 517

A history note hasn’t been published yet. The record shows enactment by ch. 50 on 1918-04-10.

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