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U.S. Code as of:
01/19/04
Section 149. Bylaws
The bylaws may provide -
(a) The time, place, manner of calling, giving notice, and
conduct of, and determination of a quorum for, the meetings, annual
or special, of the stockholders or directors;
(b) The number, qualifications, and manner of choosing and fixing
the tenure of office and compensation of all directors; but the
number of such directors shall be not less than three, and a
majority of the directors, and the president and the treasurer, or
each officer holding a corresponding office, shall, during their
tenure of office, be citizens of the United States resident in
China.
(c) The manner of calling for and collecting payments upon shares
of stock, the penalties and forfeitures for nonpayment, the
preparation of certificates of the shares, the manner of recording
their sale or transfer, and the manner of their representation at
stockholders' meetings.
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