12-U.S.C.-1457
§1457 – Prohibited Activities; Penalties For Violations By Organizations, officers and Members of Organizations, and Individuals
Pathway
Title 12 > Chapter 11A > Section 1457
Details
- Reference: Section 1457
- Legend: §1457 – Prohibited Activities; Penalties For Violations By Organizations, officers and Members of Organizations, and Individuals
- USCode Year: 2013
Provision Content
Except as expressly authorized by statute of the United States, no individual or organization (except the Corporation) shall use the term Federal Home Loan Mortgage Corporation, or any combination of words including the words Federal, and Home Loan, and Mortgage, as a name or part thereof under which any individual or organization does any business, but this sentence shall not make unlawful the use of any name under which business is being done on July 24, 1970. No individual or organization shall use or display (1) any sign, device, or insigne prescribed or approved by the Corporation for use or display by the Corporation or by members of the Federal home loan banks, (2) any copy, reproduction, or colorable imitation of any such sign, device, or insigne, or (3) any sign, device, or insigne reasonably calculated to convey the impression that it is a sign, device, or insigne used by the Corporation or prescribed or approved by the Corporation, contrary to regulations of the Corporation prohibiting, or limiting or restricting, such use or display by such individual or organization. An organization violating this subsection shall for each violation be punished by a fine of not more than $10,000. An officer or member of an organization participating or knowingly acquiescing in any violation of this subsection shall be punished by a fine of not more than $5,000 or imprisonment for not more than one year, or both. An individual violating this subsection shall for each violation be punished as set forth in the sentence next preceding this sentence.
(Pub. L. 91–351, title III, §308, July 24, 1970, 84 Stat. 456; Pub. L. 98–479, title II, §204(h), Oct. 17, 1984, 98 Stat. 2233; Pub. L. 101–73, title VII, §731(k), Aug. 9, 1989, 103 Stat. 435.)
Amendments
1989—Pub. L. 101–73 struck out subsection (a) designation before Except as expressly, and struck out subsecs. (b) to (f) relating to applicability of criminal provisions of title 18, and defining terms construing such applicability.
1984—Subsec. (f). Pub. L. 98–479 substituted United States for United States Code before , except in a territorial sense.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-1455 in the Legal Encyclopedia: Banking Law
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7-U.S.C.-1006A in the Legal Encyclopedia: Mortgage
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12-U.S.C.-1445 in the Legal Encyclopedia: Loans
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12-U.S.C.-1444 in the Legal Encyclopedia: Housing
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12-U.S.C.-15 in the Legal Encyclopedia: Credit Institutions
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