12 U.S.C. § 631 — False representations as to liability of United States for acts of corporation; punishment
submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 85 words · no verdicts yet
A person connected with a corporation under this subchapter may not falsely claim that the United States is responsible for the corporation’s bonds, obligations, interest, acts, or failures to act. The punishment is a fine of up to $10,000 and imprisonment for up to five years.
A person* connected in any capacity with a corporation organized under this subchapter who makes such a representation is punishable by a fine of not more than $10,000 and imprisonment for not more than five years.
Whoever being connected in any capacity with any corporation organized under this subchapter, represents in any way that the United States is liable for the payment of any bond or other obligation, or the interest thereon, issued or incurred by any corporation organized under this subchapter, or that the United States incurs any liability in respect of any act or omission of the corporation, shall be punished by a fine or 1 not more than $10,000 and by imprisonment for not more than five years.
Source credit: (Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)
- 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 41 Stat. 378
- 1991Amended · Pub. L. 102-242 · 105 Stat. 2281
A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.
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