12-U.S.C.-617

12-U.S.C.-617

§617 – Engaging In Commerce Or Trade In Commodities; Price Fixing; Forfeiture of Charter; Acts Forbidden to Directors, officers, Agents, Or Employees

Pathway

Title 12 > Chapter 6 > Subchapter II > Section 617

Details

  • Reference: Section 617
  • Legend: §617 – Engaging In Commerce Or Trade In Commodities; Price Fixing; Forfeiture of Charter; Acts Forbidden to Directors, officers, Agents, Or Employees
  • USCode Year: 2013

Provision Content

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.

(Dec. 23, 1913, ch. 6, §25A (par.), formerly §25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered §25A, Pub. L. 102–242, title I, §142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)

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.

U.S. Encyclopedia of Law Coverage

12-U.S.C.-602 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-602, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.

Title 12 – Banks And Banking in the Legal Encyclopedia: Foreign Banking

In this entry about Title 12 – Banks And Banking, find legal reference material, bibliographies and premiere content related to foreign banking in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign banking-specific issues, written by authorities in the field.

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