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18 U.S.C. § 650 — Depositaries failing to safeguard deposits

submitted 78 years ago by ch. 645 to r/title-18-CRIMES-AND-CRIMINAL-PROCEDURE · 105 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section addresses “Depositaries failing to safeguard deposits.” It states the rules and requirements set out in the section.

If the Treasurer of the United States or any public depositary fails to keep safely all moneys deposited by any disbursing officer or disbursing agent, as well as all moneys deposited by any receiver, collector, or other person having money of the United States, he is guilty of embezzlement, and must be fined under this title or in a sum equal to the amount of money so embezzled, whichever is greater, or imprisoned not more than ten years, or both; but if the amount embezzled does not exceed $1,000, he must be fined under this title or imprisoned not more than one year, or both.
the actual law source: uscode.house.gov ↗public domain

If the Treasurer of the United States or any public depositary fails to keep safely all moneys deposited by any disbursing officer or disbursing agent, as well as all moneys deposited by any receiver, collector, or other person having money of the United States, he is guilty of embezzlement, and shall be fined under this title or in a sum equal to the amount of money so embezzled, whichever is greater, or imprisoned not more than ten years, or both; but if the amount embezzled does not exceed $1,000, he shall be fined under this title or imprisoned not more than one year, or both.

Source credit: (June 25, 1948, ch. 645, 62 Stat. 727; Pub. L. 103–322, title XXXIII, § 330016(1)(H), (2)(G), Sept. 13, 1994, 108 Stat. 2147, 2148; Pub. L. 104–294, title VI, § 606(a), Oct. 11, 1996, 110 Stat. 3511.)

history & why it existsrecord from the source credit
  • 1948Enacted · Act of June 25, 1948, ch. 645 · 62 Stat. 727
  • 1994Amended · Pub. L. 103-322 · 108 Stat. 2147, 2148
  • 1996Amended · Pub. L. 104-294 · 110 Stat. 3511

A history note hasn’t been published yet. The record shows enactment by ch. 645 on 1948-06-25.

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