12 U.S.C. § 2269: Further penalties

Summary

If a current or former director or officer, or any other person, has a final order against them under sections 2264 or 2265, they must not take part in running a System institution, try to get or use proxies, consents, transfers, or votes, or serve as or vote for a director, officer, or employee without written approval from the Farm Credit Administration. If convicted, they face a fine of up to $5,000, up to one year in jail, or both.

Title 12, §2269

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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.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an

Effective Date

of 1985 Amendment note under section 2001 of this title.

§2269 Further Penalties

Summary

Title 12, §2269

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata