§ 617. — Engaging in commerce or trade in commodities; price fixing; forfeiture of charter; acts forbidden to directors, officers, agents, or employees.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC617]
TITLE 12--BANKS AND BANKING
CHAPTER 6--FOREIGN BANKING
SUBCHAPTER II--ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING
Sec. 617. Engaging in commerce or trade in commodities; price
fixing; forfeiture of charter; acts forbidden to directors,
officers, agents, or employees
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, Sec. 25A (par.), formerly Sec. 25(a), as added
Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered Sec. 25A, Pub. L. 102-
242, title I, Sec. 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 (Sec. 611 et seq.).
Codification
Section is comprised of a part of section 25A, formerly section
25(a), which was added to act Dec. 23, 1913, ch. 6, by act Dec. 24,
1919.
