18 U.S.C. § 335 — Circulation of obligations of expired corporations
submitted 78 years ago by ch. 645 to r/title-18-CRIMES-AND-CRIMINAL-PROCEDURE · 120 words · no verdicts yet
This law makes it a crime to keep circulating a defunct corporation's notes, checks, or other paper money-like documents. It applies to that corporation's directors, officers, agents, trustees, or anyone holding its property to pay off its debts. Breaking this law can mean a fine, up to five years in prison, or both.
Whoever, being a director, officer, or agent of a corporation created by Act of Congress, the charter of which has expired, or trustee thereof, or an agent of such trustee, or a person having in his possession or under his control the property of such corporation for the purpose of paying or redeeming its notes and obligations, knowingly issues, reissues, or utters as money, or in any other way knowingly puts in circulation any bill, note, check, draft, or other security purporting to have been made by any such corporation, or by any officer thereof, or purporting to have been made under authority derived therefrom, shall be fined under this title or imprisoned not more than five years, or both.
Source credit: (June 25, 1948, ch. 645, 62 Stat. 700; Pub. L. 103–322, title XXXIII, § 330016(1)(L), Sept. 13, 1994, 108 Stat. 2147.)
- 1948Enacted · Act of June 25, 1948, ch. 645 · 62 Stat. 700
- 1994Amended · Pub. L. 103-322 · 108 Stat. 2147
A history note hasn’t been published yet. The record shows enactment by ch. 645 on 1948-06-25.
all 0 arguments · sorted by: best
no arguments yet — make the first case