Laws: Cases and Codes : U.S. Code : Title 48 : Section 752
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U.S. Code as of:
01/19/04
Section 752 - Notes
SOURCE
(May 1, 1900, No. 23, Sec. 3, 31 Stat. 716; Mar. 2, 1917, ch. 145,
Sec. 39, 39 Stat. 964; May 17, 1932, ch. 190, 47 Stat. 158; July 3,
1950, ch. 446, Sec. 5(2), 64 Stat. 320.)
CODIFICATION
Section is comprised of section 3 (less first sentence) of act
May 1, 1900. The first sentence of such section 3 was superseded by
section 39 of act Mar. 2, 1917. Prior to repeal of such section 39
by act July 3, 1950, the sentence read: "That all franchises,
privileges or concessions granted under section thirty-two of said
Act [act Apr. 12, 1900, ch. 191, 31 Stat. 83] shall provide that
the same shall be subject to amendment, alteration, or repeal;
shall forbid the issue of stock or bonds, except in exchange for
actual cash, or property at a fair valuation, equal in amount to
the par value of the stock or bonds issued; shall forbid the
declaring of stock or bond dividends; and, in the case of
public-service corporations, shall provide for the effective
regulation of the charges thereof and for the purchase or taking by
the public authorities of their property at a fair and reasonable
valuation."
Section was not enacted as a part of the Puerto Rican Federal
Relations Act which comprises this chapter.
CHANGE OF NAME
"Puerto Rico" substituted in text for "Porto Rico" pursuant to
act May 17, 1932, which is classified to section 731a of this
title.
REPEALS
Section 5(2) of act July 3, 1950, repealed section 39 of act Mar.
2, 1917, cited as a credit to this section, eff. July 25, 1952. See
Effective Date of Repeal note set out below.
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