Page:United States Statutes at Large Volume 76A.djvu/138

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–42–

-42CHAFTER 77—RAILROADS See.

1261. Application of Safety Appliance Acts. 1262. Running boards, ladders, sill steps, roof handholds, and brake shafts. 1263. Maintenance of appliances in good and working order.

§ 1261. Application of Safety Appliance Acts The requirements of the Safety Appliance Acts (45 U.S.C. sees. 1-10), relating to the use on trains of certain described and approved driving-wheel and train brakes, couplers, handholds, and draw bars of required height for freight cars, apply in the Canal Zone. § 1262. Running boards, ladders, sill steps, roof handholds, and brake shafts The various appliances for the protection of trainmen on freight train cars, with reference to running boards, ladders, sill steps, roof handholds, and the position of brake shafts, as designated in the standards of the Association of American Railroads—Mechanical Division, shall be used by all carriers in the Canal Zone. § 1263. Maintenance of appliances in good and working order The equipment and appliances required by sections 1261 and 1262 of this title to be used shall be maintained in good and working order, at all times, by every railroad engaged in the business of a common carrier and operating in the Canal Zone. CHAPTER 79—SECURITIES SALES LAW Sec 1291. 1292. 1293. 1294. 1295. 1296. 1297. 1298. 1299.

Definitions. Permit to sell securities. Process agent; service of process; surrender of permit. Examination of application; issuance and revocation of permit. Certificate of agent or broker, Issuance and revocation of broker's or agent's certificate, Report on sale of securities, Fees. I»enalties for violation.

§ 1291. Definitions In this chapter vmless otherwise provided or apparent from the context: "agent" includes every person or company employed or appointed by a company or broker who, within the Canal Zone, either as an employee or otherwise, for a compensation, sells, offers for sale, negotiates for the sale of, or takes a subscription for the sale of a security; "broker" includes every person or company, other than an agent, who for a commission in the Canal Zone engages either wholly or in part in the business of: (1) selling, offering for sale, negotiating for the sale of, or otherwise dealing in securities issued by others; (2) underwriting an issue of securities; or (3) purchasing securities for the purpose of reselling them or offering them for sale to the public; "company" includes corporations, associations, joint stock companies, and partnerships; "security" includes stocks, bonds, or other evidences of property or interest in a company. § 1292. Permit to sell securities (a) A company may not sell, offer for sale, negotiate for the sale of, or take subscriptions for a security of its own issue until it applies for and secures from the Governor a permit to do so.