Title 12 — Banks and BankingRelease 119-73not60
§617 Engaging in Commerce or Trade in Commodities; Price Fixing; Forfeiture of Charter; Acts Forbidden to Directors, Officers, Agents, or Employees
Title 12 › Chapter 6— FOREIGN BANKING › Subchapter II— ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING › § 617
Summary
Corporations under this subchapter must not trade in commodities except as the subchapter allows, and they must not directly or indirectly fix or try to fix prices for those commodities. If they do, their charter can be taken away. Directors, officers, agents, or employees must not use corporate credit, funds, or power, or conspire to, to fix or control prices. Violators can be fined $1,000 to $5,000, imprisoned for 1 to 5 years, or both.
Full Legal Text
Title 12, §617
Banks and Banking — Source: USLM XML via OLRC
No corporation organized under this subchapter shall engage in commerce or trade in commodities except as specifically provided in this subchapter, nor shall it, either directly or indirectly, control or fix or attempt to control or fix the price of any such commodities. The charter of any corporation violating this provision shall be subject to forfeiture in the manner provided in this subchapter. It shall be unlawful for any director, officer, agent, or employee of any such corporation to use or to conspire to use the credit, the funds, or the power of the corporation to fix or control the price of any such commodities, and any such person violating this provision shall be liable to a fine of not less than $1,000 and not exceeding $5,000 or imprisonment not less than one year and not exceeding five years, or both, in the discretion of the court.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
This subchapter, referred to in text, was in the original “this section”, meaning section 25A of act Dec. 23, 1913, which is classified to this subchapter (§ 611 et seq.). Codification Section is comprised of par. 9 (undesignated) of section 25A of act Dec. 23, 1913, which comprises this subchapter. For complete classification of section 25A of this Act, see Codification note set out under section 611 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 617
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60