2010 US Code
Title 12 - BANKS AND BANKING
CHAPTER 3 - FEDERAL RESERVE SYSTEM
SUBCHAPTER X - POWERS AND DUTIES OF MEMBER BANKS
Sec. 374a - Acting as agent for nonbanking borrower in making loans on securities to dealers in stocks, bonds, etc.; penalties
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 4, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 3 - FEDERAL RESERVE SYSTEM SUBCHAPTER X - POWERS AND DUTIES OF MEMBER BANKS Sec. 374a - Acting as agent for nonbanking borrower in making loans on securities to dealers in stocks, bonds, etc.; penalties |
| Contains | section 374a |
| Date | 2010 |
| Laws in Effect as of Date | January 7, 2011 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | 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. |
| Statutes at Large References | 48 Stat. 181 80 Stat. 824 |
| Public Law References | Public Law 89-597 |
§374a. Acting as agent for nonbanking borrower in making loans on securities to dealers in stocks, bonds, etc.; penalties
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 0 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.)
CodificationSection is comprised of subsec. (d), formerly seventh par., of section 19 of act Dec. 23, 1913, as redesignated by Pub. L. 89–597.
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