§1006 Federal credit institution entries, reports and transactions

1948 ActBased on section 1026(b) and 1514(c) of title 7, U.S.C., 1940 ed., Agriculture, section 264(u), 984, 1121, 1138d(c), 1311, 1441(c), 1467(c) and 1731(c) of title 12, U.S.C., 1940 ed., Banks and Banking, and section 616(c) of title 15, U.S.C., 1940 ed., Commerce and Trade (Dec. 23, 1913, ch. 6, § 12B(u), as added

June 16, 1933, ch. 89, § 8, 48 Stat. 178;

July 17, 1916, ch. 245, § 31, fourth par., 39 Stat. 383;

July 17, 1916, ch. 245, § 211(a), as added Mar. 4, 1923, ch. 252, § 2, 42 Stat. 1459; Mar. 4, 1923, ch. 252, title II, § 216(a), 42 Stat. 1471; Jan. 22, 1932, ch. 8, § 16(c), 47 Stat. 11;

July 22, 1932, ch. 522, § 21(c), 47 Stat. 738; Ex. Ord. No. 6084, Mar. 27, 1933;

June 13, 1933, ch. 64, § 8(c), 48 Stat. 135;

June 16, 1933, ch. 98, § 64(c), 48 Stat. 268; Jan. 31, 1934, ch. 7, § 13, 48 Stat. 347;

June 27, 1934, ch. 847, § 512(c), 48 Stat. 1265; Aug. 23, 1935, ch. 614, § 101, 49 Stat. 701;

July 22, 1937, ch. 517, title IV, § 52(b), 50 Stat. 532; Feb. 16, 1938, ch. 30, title V, § 514(c), 52 Stat. 76; Aug. 14, 1946, ch. 964, § 3, 60 Stat. 1064). Each of the eleven sections from which this section was derived contained similar provisions relating to embezzlement, false entries, and fraudulent issuance or assignment of obligations with respect to one or more named agencies or corporations. These were divided and the false entry and fraudulent issuance or assignment of obligation provisions of all, form the basis of this section. The remaining provisions of each section, relating to embezzlement and misapplication, form the basis for section 657 of this title. That portion of said section 616(c) of title 15, relating to disclosure of information, forms the basis for section 1904 of this title. Each revised section condenses and simplifies the constituent provisions without change of substance except as herein indicated. The punishment provisions in each section were the same except that in section 1026(b) of title 7, U.S.C., 1940 ed., and section 984, 1121, and 1311 of title 12, U.S.C., 1940 ed., the maximum fine was $5,000. This consolidated section adopts the $10,000 maximum fine provided by the seven other sections. References to persons aiding or abetting contained in section 984, 1121, and 1311 of title 12, U.S.C., 1940 ed., were omitted as unnecessary, as such persons are made principals by section 2 of this title. The term “receiver,” used in section 1121 and 1311 of title 12, U.S.C., 1940 ed., with reference to Federal intermediate credit banks and agricultural credit corporations, was omitted as this term is undoubtedly embraced in the phrase “or connected in any capacity with.” The term “or of any department or agency of the United States” was inserted in order to clarify the sweeping provisions against fraudulent acts and to eliminate any possible ambiguity as to scope of section. (See definitions of “department” and “agency” in section 6 of this title.) Words “shall be deemed guilty of a misdemeanor”, contained in section 1311 of title 12, U.S.C., 1940 ed., were omitted as unnecessary, in view of definition of misdemeanor in section 1 of this title. Words “and upon conviction”, contained in section 1311 of title 12, U.S.C., 1940 ed., were omitted as surplusage, because punishment cannot be imposed until after conviction. Words “in any district court of the United States”, contained in section 1311 of title 12, U.S.C., 1940 ed., were omitted as unnecessary, because section 3231 of this title confers jurisdiction on the Federal district courts of all crimes and offenses defined in this title. The conspiracy provisions of section 1138d(f) of title 12, U.S.C., 1940 ed., Banks and Banking, were not added to this consolidated section for reasons stated in reviser’s note under section 493 of this title. (See also reviser’s note under section 371 of this title.) 1949 Act[section 20] conforms section 1006 of title 18, U.S.C., to administrative practice which in turn was modified to comply with congressional policy. (See note to sec. 11 [of 1949 Act, set out in

Finance Corporation,” after “in any capacity with the” and “Farmers’ Home Corporation,” after “Federal Crop Insurance Corporation,”. 1990—Pub. L. 101–647, § 2595(a)(4), substituted “Office of Thrift Supervision, any Federal home loan bank, the Federal Housing Finance Board, the Resolution Trust Corporation,” for “Home Owners’ Loan Corporation,”, and directed substitution of “institution, other than an insured bank (as defined in section 656), the accounts of which are insured by the Federal Deposit Insurance Corporation”, for “institution the accounts of which are insured by the Federal Savings and Loan Insurance Corporation” which was executed by making the substitution for “institution the accounts of which are insured by the Federal Deposit Insurance Corporation” to reflect the probable intent of Congress and intervening amendment by Pub. L. 101–647, § 1603, see below. Pub. L. 101–647, § 2504(e), substituted “30” for “20” before “years”. Pub. L. 101–647, § 1603, substituted “Federal Deposit Insurance Corporation” for “Federal Savings and Loan Insurance Corporation”. Pub. L. 101–624 substituted “Farmers Home Administration, the Rural Development Administration” for “Farmers’ Home Administration”. 1989—Pub. L. 101–73, § 962(a)(8)(A), substituted “the Farm Credit System Insurance Corporation, a Farm Credit Bank, a” for “any land bank, intermediate credit bank,”. Pub. L. 101–73, § 962(a)(7), substituted “National Credit Union Administration Board” for “Administrator of the National Credit Union Administration”. Pub. L. 101–73, § 961(e), substituted “$1,000,000” for “$10,000” and “20 years” for “five years”. 1970—Pub. L. 91–468 added National Credit Union Administration and its Administrator to the enumeration of Federal Credit institutions and personnel. 1967—Pub. L. 90–19 substituted “Department of Housing and Urban Development” for “Federal Housing Administration”. 1961—Pub. L. 87–353 struck out reference to Federal Farm Mortgage Corporation. 1958—Pub. L. 85–699 included officers, agents or employees of or connected in any capacity with small business investment companies. 1956—Act

July 28, 1956, included officers, agents or employees of or connected in any capacity with any institution the accounts of which are insured by the Federal Savings and Loan Insurance Corporation. 1949—Act

May 24, 1949, inserted reference Secretary of Agriculture acting through the Farmers’ Home Administration.