15 U.S.C. § 77ee : US Code - Section 77EE: Directors of Corporation, powers and duties generally

Search 15 U.S.C. § 77ee : US Code - Section 77EE: Directors of Corporation, powers and duties generally

The board of directors may -
(1) Convene meetings of holders of foreign securities.
(2) Invite the deposit and undertake the custody of foreign
securities which have defaulted in the payment either of
principal or interest, and issue receipts or certificates in the
place of securities so deposited.
(3) Appoint committees from the directors of the Corporation
and/or all other persons to represent holders of any class or
classes of foreign securities which have defaulted in the payment
either of principal or interest and determine and regulate the
functions of such committees. The chairman and vice chairman of
the board of directors shall be ex officio chairman and vice
chairman of each committee.
(4) Negotiate and carry out, or assist in negotiating and
carrying out, arrangements for the resumption of payments due or
in arrears in respect of any foreign securities in default or for
rearranging the terms on which such securities may in future be
held or for converting and exchanging the same for new securities
or for any other object in relation thereto; and under this
paragraph any plan or agreement made with respect to such
securities shall be binding upon depositors, providing that the
consent of holders resident in the United States of 60 per centum
of the securities deposited with the Corporation shall be
obtained.
(5) Undertake, superintend, or take part in the collection and
application of funds derived from foreign securities which come
into the possession of or under the control or management of the
Corporation.
(6) Collect, preserve, publish, circulate, and render available
in readily accessible form, when deemed essential or necessary,
documents, statistics, reports, and information of all kinds in
respect of foreign securities, including particularly records of
foreign external securities in default and records of the
progress made toward the payment of past-due obligations.
(7) Take such steps as it may deem expedient with the view of
securing the adoption of clear and simple forms of foreign
securities and just and sound principles in the conditions and
terms thereof.
(8) Generally, act in the name and on behalf of the holders of
foreign securities the care or representation of whose interests
may be entrusted to the Corporation; conserve and protect the
rights and interests of holders of foreign securities issued,
sold, or owned in the United States; adopt measures for the
protection, vindication, and preservation or reservation of the
rights and interests of holders of foreign securities either on
any default in or on breach or contemplated breach of the
conditions on which such foreign securities may have been issued,
or otherwise; obtain for such holders such legal and other
assistance and advice as the board of directors may deem
expedient; and do all such other things as are incident or
conducive to the attainment of the above objects.