§ 955. — Financial transactions with foreign governments.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 18USC955]
TITLE 18--CRIMES AND CRIMINAL PROCEDURE
PART I--CRIMES
CHAPTER 45--FOREIGN RELATIONS
Sec. 955. Financial transactions with foreign governments
Whoever, within the United States, purchases or sells the bonds,
securities, or other obligations of any foreign government or political
subdivision thereof or any organization or association acting for or on
behalf of a foreign government or political subdivision thereof, issued
after April 13, 1934, or makes any loan to such foreign government,
political subdivision, organization or association, except a renewal or
adjustment of existing indebtedness, while such government, political
subdivision, organization or association, is in default in the payment
of its obligations, or any part thereof, to the United States, shall be
fined under this title or imprisoned for not more than five years, or
both.
This section is applicable to individuals, partnerships,
corporations, or associations other than public corporations created by
or pursuant to special authorizations of Congress, or corporations in
which the United States has or exercises a controlling interest through
stock ownership or otherwise. While any foreign government is a member
both of the International Monetary Fund and of the International Bank
for Reconstruction and Development, this section shall not apply to the
sale or purchase of bonds, securities, or other obligations of such
government or any political subdivision thereof or of any organization
or association acting for or on behalf of such government or political
subdivision, or to making of any loan to such government, political
subdivision, organization, or association.
(June 25, 1948, ch. 645, 62 Stat. 744; Pub. L. 103-322, title XXXIII,
Sec. 330016(1)(L), Sept. 13, 1994, 108 Stat. 2147.)
Historical and Revision Notes
Based on section 804a of title 31, U.S.C., 1940 ed., Money and
Finance (Apr. 13, 1934, ch. 112, Secs. 1, 2, 48 Stat. 574).
Words ``within the United States'' were substituted for ``within the
jurisdiction'' etc., in view of the definition of United States in
section 5 of this title.
Words ``upon conviction thereof'' were omitted from first paragraph
as surplusage since punishment cannot be imposed until a conviction is
secured.
Minor changes were made in phraseology.
Senate Revision Amendment
An additional paragraph was added to the text of this section by
Senate amendment, which was taken from section 804b of Title 31, U.S.C.,
Money and Finance. Therefore, as finally enacted, such section 804b and
the Acts from which it was derived (Act Apr. 13, 1934, ch. 112, Sec. 3,
as added July 31, 1945, ch. 339, Sec. 9, 59 Stat. 516), were an
additional source of this section. See Senate Report No. 1620, amendment
No. 9, 80th Cong.
Amendments
1994--Pub. L. 103-322 substituted ``fined under this title'' for
``fined not more than $10,000'' in first par.
Applicability of Section
Pub. L. 102-511, title IX, Sec. 902, Oct. 24, 1992, 106 Stat. 3355,
provided that: ``Section 955 of title 18, United States Code, shall not
apply with respect to any obligations of the former Soviet Union, or any
of the independent states of the former Soviet Union, or any political
subdivision, organization, or association thereof.''
Section Referred to in Other Sections
This section is referred to in title 12 section 635h; title 22
section 2395.
