§ 214. Offer for procurement of Federal Reserve bank loan and discount of commercial paper

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Whoever stipulates for or gives or receives, or consents or agrees to give or receive, any fee, commission, bonus, or thing of value for procuring or endeavoring to procure from any Federal Reserve bank any advance, loan, or extension of credit or discount or purchase of any obligation or commitment with respect thereto, either directly from such Federal Reserve bank or indirectly through any financing institution, unless such fee, commission, bonus, or thing of value and all material facts with respect to the arrangement or understanding therefor shall be disclosed in writing in the application or request for such advance, loan, extension of credit, discount, purchase, or commitment, shall be fined under this title or imprisoned not more than one year, or both.

(June 25, 1948, ch. 645, 62 Stat. 695, § 214, formerly § 219; renumbered § 214, Pub. L. 87–849, § 1(d), Oct. 23, 1962, 76 Stat. 1125; Pub. L. 103–322, title XXXIII, § 330016(1)(K), Sept. 13, 1994, 108 Stat. 2147.)

Historical and Revision Notes

Based on section 599 of title 12, U.S.C., 1940 ed., Banks and Banking (Dec. 23, 1913, ch. 6, § 22(k), as added by act June 19, 1934, ch. 653, § 3, 48 Stat. 1108).

Final sentence of said section 599, imposing civil liability on violators, was omitted as unnecessary, being merely a declaration of that rule of common law which in the absence of statute fixes civil liability on the wrongdoer.

Minor changes were made in phraseology.

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Offer for procurement of Federal Reserve bank loan and discount of commercial paper
§ 214

11 references not yet in our index

June 25, 1948, ch. 645
62 Stat. 695
Pub. L. 87–849, § 1(d)
76 Stat. 1125
Pub. L. 103–322, title XXXIII, § 330016(1)(K)
108 Stat. 2147
section 599 of title 12
Dec. 23, 1913, ch. 6, § 22(k)
act June 19, 1934, ch. 653, § 3
48 Stat. 1108
Pub. L. 103–322

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§ 214

Offer for procurement of Federal Reserve bank loan and discount of commercial paper

Fed. Reg.×2

U.S.C.×2

U.S.C.§ 214

ActJune 25, 1948, ch. 645

Stat.62 Stat. 695

Pub. L.Pub. L. 87–849, § 1(d)

Stat.76 Stat. 1125

Pub. L.Pub. L. 103–322, title XXXIII, § 330016(1)(K)

Cites 12 · showing 6Cited by 4 across 2 sources