Title 15, Commerce and TradeRelease 119-102
§151 Directors
Title 15 › CHAPTER 4 — CHINA TRADE › § 151
Summary
Directors named in the articles of incorporation must run the corporation and use its powers until new directors take office, except for actions that stockholders are allowed to do by law or by the articles or bylaws. Elected directors then may hire, fire, and set pay for officers and employees.
Full Legal Text
Title 15, §151
Commerce and Trade, Source: USLM XML via OLRC
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.
Reference
Citations & Metadata
Citation
15 U.S.C. § 151
Title 15, Commerce and Trade
Last Updated
Aug 21, 2026
Release point: 119-102