§631 — Title 12 Banks and Banking | U.S. Code

Summary

If someone who is connected in any way with a corporation organized under this subchapter says that the United States will pay that corporation’s bonds, debts, or interest, or that the United States is responsible for the corporation’s actions or failures to act, they have committed an offense. They can be fined up to $10,000 and can be imprisoned for up to five years.

Title 12, §631

Banks and Banking — Source: USLM XML via OLRC

Whoever being connected in any capacity with any corporation organized under this subchapter, represents in any way that the United States is liable for the payment of any bond or other obligation, or the interest thereon, issued or incurred by any corporation organized under this subchapter, or that the United States incurs any liability in respect of any act or omission of the corporation, shall be punished by a fine or 11 So in original. Probably should be “of”. not more than $10,000 and by imprisonment for not more than five years.

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.). Organized under this subchapter, referred to the second time in text, was in the original “organized hereunder”, meaning under section 25A of act Dec. 23, 1913. Codification Section is comprised of par. 23 (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.

§631 False Representations as to Liability of United States for Acts of Corporation; Punishment

Summary

Title 12, §631

Notes & Related Subsidiaries

Editorial Notes

References in Text

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