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48 U.S.C. § 752 — Corporate real estate holdings

Federal law — U.S. Code and appendices · legal_authorities

48 U.S.C. § 752 — Corporate real estate holdings

No corporation shall be authorized to conduct the business of buying and selling real estate or be permitted to hold or own real estate except such as may be reasonably necessary to enable it to carry out the purposes for which it was created, and every corporation authorized after May 1, 1900, to engage in agriculture shall by its charter be restricted to the ownership and control of not to exceed five hundred acres of land; and this provision shall be held to prevent any member of a corporation engaged in agriculture from being in any wise interested in any other corporation engaged in agriculture. Corporations, however, may loan funds upon real estate security, and purchase real estate when necessary for the collection of loans, but they shall dispose of real estate so obtained within five years after receiving the title. Corporations not organized in Puerto Rico, and doing business therein, shall be bound by the provisions of this section so far as they are applicable.

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Source location: Title 48, Chapter 4, § 752; chapter-004-puerto-rico.md

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Federal law — U.S. Code and appendices · legal_authorities

48 U.S.C. § 731a — Change of name; Puerto Rico

From and after May 17, 1932, the island designated “Porto Rico” in the Act entitled “An Act to provide a civil government for Porto Rico, and for other purposes,” approved March 2, 1917, as amended, shall be known and designated as “Puerto Rico.” All laws, regulations, and public documents and records of the United States in which such island is designated or referred to under the name of “Porto Rico” shall be held to refer to such island under and by the name of “Puerto Rico.”

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Federal law — U.S. Code and appendices · legal_authorities

48 U.S.C. § 732 — Repealed. July 3, 1950, ch. 446, § 5(2), 64 Stat. 320

### Statutory Notes Section, acts Mar. 2, 1917, ch. 145, § 4, 39 Stat. 953; May 17, 1932, ch. 190, 47 Stat. 158, designated San Juan as the capital of Puerto Rico. Section 6 of act Apr. 12, 1900, ch. 191, 31 Stat. 79, formerly cited as a credit to this section, was not repealed by act July 3, 1950. #### Effective Date of Repeal Act July 3, 1950, ch. 446, § 5, 64 Stat. 320, provided that the repeal of this section and sections 735, 750, 753, 754, 771–793, 793b, 796–799, 811–820, 822, 823, 824–844, 861, and 873 of this title and the amendment of sections 737 and 752 of this title were to be effective at such time as the Constitution of the Commonwealth of Puerto Rico became effective. Under [section 731d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section731d&num=0&edition=prelim), that Constitution, upon approval by the Congress of the United States, “shall become effective in accordance with its terms”. Congress, by act July 3, 1952, ch. 567, 66 Stat. 327, approved, with certain conditions, that Constitution; the approving act further provided that the Constitution, as so approved, “shall become effective when the Constitutional Convention of Puerto Rico shall have declared in a formal resolution its acceptance in the name of Puerto Rico of the conditions of approval herein contained, and when the Governor of Puerto Rico, being duly notified by the proper officials of the Constitutional Convention of Puerto Rico that such resolution of acceptance has been formally adopted, shall issue a proclamation to that effect”. The Constitution was proclaimed by the Governor of Puerto Rico on July 25, 1952, and became effective on that date.

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Federal law — U.S. Code and appendices · legal_authorities

48 U.S.C. § 752 — Corporate real estate holdings

Page 65 TITLE 48—TERRITORIES AND INSULAR POSSESSIONS §§ 771 to 793 Editorial Notes REFERENCES IN TEXT The Safety Appliance Acts, referred to in text, are acts Mar. 2, 1893, ch. 196, 27 Stat. 531; Mar. 2, 1903, ch. 976, 32 Stat. 943; and Apr. 14, 1910, ch. 160, 36 Stat. 298, which were classified to sections 1 to 16 of Title 45, Railroads, and were repealed and reenacted in sections 20102, 20301 to 20304, 21302, and 21304 of Title 49, Trans- portation, by Pub. L. 103–272, §§ 1(e), 7(b), July 5, 1994, 108 Stat. 863, 881, 892, 893, 1379, the first section of which enacted subtitles II, III, and V to X of Title 49. Section 6 of act Apr. 14, 1910, which was classified to section 15 of Title 45, was repealed and reenacted as section 501(b) of Title 49 by Pub. L. 97–449, Jan. 12, 1983, 96 Stat. 2413. CODIFICATION ‘‘Subtitle IV of title 49’’ substituted in text for ‘‘The Interstate Commerce Act and the several amendments made or to be made thereto [49 U.S.C. 1 et seq.]’’ and ‘‘the Act of Congress entitled ‘An Act to amend an Act entitled ‘‘An Act to regulate commerce,’’ approved February 4, 1887, and all Acts amendatory thereof, by providing for a valuation of the several classes of prop- erty of carriers subject thereto and securing informa- tion concerning their stocks, bonds, and other securi- ties,’ approved March 1, 1913 [49 U.S.C. 19a]’’ on author- ity of Pub. L. 95–473, § 3(b), Oct. 17, 1978, 92 Stat. 1466, the first section of which enacted subtitle IV (§ 10101 et seq.) of Title 49, Transportation. Section is comprised of second paragraph of section 38 of act Mar. 2, 1917. The first and third paragraphs of section 38 were classified to sections 750 and 753, respec- tively, of this title. AMENDMENTS 1927—Act Mar. 4, 1927, reenacted section with

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