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U.S. Code as of:
01/19/04
Section 151. Directors
The directors designated in the articles of incorporation shall,
until their successors take office, direct the exercise of all
powers of a China Trade Act corporation except such as are
conferred upon the stockholders by law or by the articles of
incorporation or bylaws of the corporation. Thereafter the
directors elected in accordance with the bylaws of the corporation
shall direct the exercise of all powers of the corporation except
such as are so conferred upon the stockholders. In the exercise of
such powers the directors may appoint and remove and fix the
compensation of such officers and employees of the corporation as
they deem advisable.
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