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15 U.S.C. § 77bb — “Corporation of Foreign Security Holders”; creation; principal office; branch offices

submitted 93 years ago by ch. 38 to r/title-15-COMMERCE-AND-TRADE · 79 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law creates a group called the "Corporation of Foreign Security Holders." Its job is to protect people who hold foreign securities that are in default. It is based in Washington, D.C., but can open other offices around the country.

This law creates a body corporate named the "Corporation of Foreign Security Holders" (called the "Corporation" in this subchapter). Its purpose is to protect, preserve, and advance the interests of people who hold foreign securities that are in default. The Corporation's main office is located in the District of Columbia. Its board of directors can set up agencies or branch offices in any U.S. city, following rules and regulations the board creates.
the actual law source: uscode.house.gov ↗public domain

For the purpose of protecting, conserving, and advancing the interests of the holders of foreign securities in default, there is hereby created a body corporate with the name “Corporation of Foreign Security Holders” (herein called the “Corporation”). The principal office of the Corporation shall be located in the District of Columbia, but there may be established agencies or branch offices in any city or cities of the United States under rules and regulations prescribed by the board of directors.

Source credit: (May 27, 1933, ch. 38, title II, § 201, 48 Stat. 92.)

history & why it existsrecord from the source credit
  • 1933Enacted · Act of May 27, 1933, ch. 38 · 48 Stat. 92

A history note hasn’t been published yet. The record shows enactment by ch. 38 on 1933-05-27.

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