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U.S. Code as of:
01/19/04
Section 148. Payment of stock in real or personal property
No share of stock of a China Trade Act corporation shall, for the
purposes of section 147 of this title or of subdivision (d) of
section 144 of this title, be held paid in real or personal
property unless (1) a certificate describing the property and
stating the value at which it is to be received has been filed by
the corporation with the Secretary or the registrar in such manner
as shall be by regulation prescribed, and a fee to be fixed by the
Secretary or the registrar, respectively, to cover the cost of any
necessary investigation has been paid, and (2) the Secretary or the
registrar, as the case may be, finds and has certified to the
corporation that such value is not more than the fair market value
of the property.
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