PRIA, Government Policy, Made Personal

Summary

It is a crime to trick, cheat, or try to mislead any person or group about the type, terms, or authenticity of farm loan bonds, coupons, debentures, or other similar obligations issued by Federal land banks or Federal intermediate credit banks. That includes claiming a bond or coupon is something different than what it shows. A person convicted can be fined under federal law, imprisoned not more than one year, or both.

Title 18, §1013

Crimes and Criminal Procedure, Source: USLM XML via OLRC

Whoever deceives, defrauds, or imposes upon, or attempts to deceive, defraud, or impose upon any person, partnership, corporation, or association by making any false pretense or representation concerning the character, issue, security, contents, conditions, or terms of any farm loan bond, or coupon, issued by any Federal land bank or banks; or of any debenture, coupon, or other obligation, issued by any Federal intermediate credit bank or banks; or by falsely pretending or representing that any farm loan bond, or coupon, is anything other than, or different from, what it purports to be on the face of said bond or coupon, shall be fined under this title or imprisoned not more than one year, or both.

Notes & Related Subsidiaries

Historical and Revision Notes

Based on section 985, 1127, and 1317 of title 12, U.S.C., 1940 ed., Banks and Banking (

July 17, 1916, ch. 245, § 31, fifth paragraph, 39 Stat. 384;

July 17, 1916, ch. 245, § 211(g), as added Mar. 4, 1923, ch. 252, § 2, 42 Stat. 1461; Mar. 4, 1923, ch. 252, title II, § 216(g), 42 Stat. 1473). This section condenses and simplifies section 985, 1127, and 1317 of title 12, U.S.C., 1940 ed., Banks and Banking, each of which contained similar provisions and similar language. The punishment provisions of all three sections were the same. References to “chapter” and “subchapter” were omitted and words describing the various types of banks or organizations to which said section 985, 1127, and 1317 of title 12, U.S.C., 1940 ed., Banks and Banking, related, were inserted in lieu. This necessitated some rephrasing and transposition of phrases, but without change of meaning or substance. Words “upon conviction” which were contained in section 1127 and 1317 of title 12, U.S.C., 1940 ed., Banks and Banking, were omitted as surplusage, because punishment cannot be imposed until after conviction. Changes were made in phraseology.

Editorial Notes

Amendments

1994—Pub. L. 103–322, § 330016(1)(G), substituted “fined under this title” for “fined not more than $500”. Pub. L. 103–322, § 330004(8), struck out “, or by any National Agricultural Credit Corporation” after “credit bank or banks”. 1982—Pub. L. 97–297 struck out “, or by any joint-stock land bank or banks” after “issued by any Federal land bank or banks”.

§1013 Farm Loan Bonds and Credit Bank Debentures