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12 U.S.C. § 2269 — Further penalties

submitted 41 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 150 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section establishes further penalties. It states the conduct covered and the penalties provided for it.

Any director or officer, or former director or officer of a System institution, or any other person, against whom there is outstanding and effective any notice or order (which is an order which has become final) served upon that director, officer, or other person under section 2264 or 2265 of this title, and who (1) participates in any manner in the conduct of the affairs of the institution involved, or directly or indirectly solicits or procures, or transfers or attempts to transfer, or votes or attempts to vote, any proxies, consents, or authorizations in respect of any voting rights in that institution, or (2) without the prior written approval of the Farm Credit Administration, votes for a director, serves or acts as a director, officer, or employee of any System institution, must upon conviction be fined not more than $5,000 or imprisoned for not more than one year, or both.

the actual law source: uscode.house.gov ↗public domain

Any director or officer, or former director or officer of a System institution, or any other person, against whom there is outstanding and effective any notice or order (which is an order which has become final) served upon such director, officer, or other person under section 2264 or 2265 of this title, and who (1) participates in any manner in the conduct of the affairs of the institution involved, or directly or indirectly solicits or procures, or transfers or attempts to transfer, or votes or attempts to vote, any proxies, consents, or authorizations in respect of any voting rights in such institution, or (2) without the prior written approval of the Farm Credit Administration, votes for a director, serves or acts as a director, officer, or employee of any System institution, shall upon conviction be fined not more than $5,000 or imprisoned for not more than one year, or both.

Source credit: (Pub. L. 92–181, title V, § 5.33, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1701.)

history & why it existsrecord from the source credit
  • 1985Enacted · Pub. L. 92-181 · 99 Stat. 1701

A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1985-12-23.

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