§ 374a. Acting as agent for nonbanking borrower in making loans on securities to dealers in stocks, bonds, etc.; penalties
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/usc/title-12/section-374aA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No member bank shall act as the medium or agent of any nonbanking corporation, partnership, association, business trust, or individual in making loans on the security of stocks, bonds, and other investment securities to brokers or dealers in stocks, bonds, and other investment securities. Every violation of this provision by any member bank shall be punishable by a fine of not more than $100 per day during the continuance of such violation; and such fine may be collected, by suit or otherwise, by the Federal reserve bank of the district in which such member bank is located.
(Dec. 23, 1913, ch. 6, § 19(d), formerly § 19 (par. 7), as added June 16, 1933, ch. 89, § 11(a), 48 Stat. 181; renumbered § 19(d), Pub. L. 89–597, § 2(b), Sept. 21, 1966, 80 Stat. 824.)
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Cited by 13 sections
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- Dec. 23, 1913, ch. 6, § 19(d)
- June 16, 1933, ch. 89, § 11(a)
- 48 Stat. 181
- Pub. L. 89–597, § 2(b)
- 80 Stat. 824
- Pub. L. 89–597
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§ 374a
Acting as agent for nonbanking borrower in making loans on securities to dealers in stocks, bonds, etc.; penalties
Fed. Reg.×10
C.F.R.×1
Stat. Comp.×1
Stat.×1
ActDec. 23, 1913, ch. 6, § 19(d)
ActJune 16, 1933, ch. 89, § 11(a)
Stat.48 Stat. 181
Pub. L.Pub. L. 89–597, § 2(b)
Stat.80 Stat. 824
Cites 6 · showing 5Cited by 13 across 4 sources