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Code · STATUTES-AT-LARGE · Vol. 15 STAT. · Feb. 19, 1869 · Chapter XXXII

Chapter XXXII. *to prevent loaning Money upon United States Notes.* Feb. 19, 1869. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* That no national banking Banking associations not to loan money upon United States notes, nor withhold them from use,

264 words·~1 min read·/statutes-at-large/vol-15/chapter-xxxii-1202811·

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Chap. XXXII.— An Act *to prevent loaning Money upon United States Notes.* Feb. 19, 1869. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* That no national banking Banking associations not to loan money upon United States notes, nor withhold them from use, &c.association shall hereafter oiler or receive United States notes or national bank notes as security or as collateral security for any loan of money, or for a consideration shall agree to withhold the same from use, or shall offer or receive the custody or promise of custody of such notes as security, or as collateral security, or consideration for any loan of money; and any national banking association offending against the provisions of this act shall be deemed guilty of a misdemeanor, and upon conviction thereof in any United States court having jurisdiction shall be punished by a fine not exceeding one thousand dollars, and by a further sum equal to one third of the money so loaned; and the officer or officers of said bank who shall make such loan or loans shall be liable for a further sum Penalty. 1864, ch. 106.
Vol. xiii. p. 116.equal to one quarter of the money so loaned; and the prosecution of such offenders shall be commenced and conducted as provided for the punishment of offences in an act to provide a national currency, approved June third, eighteen hundred and sixty-four, and the fine or penalty so recovered shall be for the benefit of the party bringing such suit. Approved, February 19, 1869.
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