Page:United States Statutes at Large Volume 40 Part 1.djvu/989

 SIXTIYFIFTH CONGRESS. Sess. II. Ch. 177. 1918. 971 the express permission in writing from the Comptroller of the Currency, or from the board of directors of such liank, except when ordered to do so bfy a court of competent jurisdiction, or by direction of the Congress o the United States, or of either House thereof, or any committee of Con ess, or of either House dulymauthorized. Pumhmm M vi Any bank examiner violaiting the provisions of this su ection shall muon. °` be ;)rr1p1risoned not more than one year or fined not more than $5,000, or ot . . . " (c) Except as herein provided, an officer, director, employee, or r¤§ i,yl°$Eei,l-ii.;} attorney of a member bank who stipuliites for or receives or consents °“‘fm§°"g‘@‘f§·8mBnd_ or agrees to receive any fee, commission, gift, or thing of value from ed- ’ ' any person, firm, or coxoration, for procuring or endeavoring to Eygcure for such person, m, or corporation, or or any other person,, or corporation, any loan from or the plurchase or discount of any paper, note, draft, check, or bill of exc e by such member P H mt M vim bank shall be deemed guilty of a misdemeanor aiiiilg sh be imprisoned mm. not more than one year or fined not more than $5,000, or both. B,,,,,,,,,,,,,,,.,,,,,,,,,,,,,,,, " (d) Any member bank may contract for, or purchase from, any mh dir¤¢¤>r¤ vermof its directors or from any firm of which any of its directors is a ` member, any securities or other property, when (and not otherwise) such purchase is made in the regular course of business upon terms not less favorable to the bank than those offered to others, or when such purchase is authorized by a majority of the board of directors not interested in the sale of such securities or property, such authority to be evidenced b the aiiirmative vote or written assent of suc ,,,0,,.0 directors: PT017ld6d¥]}l}?l}€UBT, That when any director, or Erm of which ruu sze., any director is a member, acting for or on behalf of others, sells '°°°l'°°‘ securities or other property to a member bank, the Federal Reserve Board by regulation may, in any or all cases, r uire a full disclosure to be made, on forms to be prescribed by it,ec?f all commissions or other considerations received, and whenever such director or firm, acting in his or its own behalf, sells securities or other property to the bank the Federal Reserve Board, by regulation, may require a full disclosure of all proht realized from such sale. _ "Any member bank may sell securities or other property to any ,,§j"}‘,, : of its directors, or to a. firm of which any of its directors is a. member, ¤**°*°d· in the regular course of business on terms not more favorable to such director or firm than those offered to others, or when such sale is authorized by a majority of the board of directors of a member bank to be evidenced by their affirmative vote or written assent: Provided, §;g{*;,g£,m however, That nothing in this subsection contained shall be construed ` as authorizing member banks to purchase or sell securities or other property which such banks are not otherwise authorized by law to pl1I`Cl]&S6 01* sell. Interest allowed on " (e) No member bank shall pay to any director, officer, attorney, g:_g>°¤rL$d·;{°d¤ir¤<>*¤r¤. or employee a greater rate of interest on the deposits of such director, " ' officer, attorney, or employee than that paid to other depositors on similar deposits with such member bank. mabimy Ommtm " (f) If the directors or officers of any member bank shall know- ¢¤¢.,f¤rpr¤hibitedact·si ingly violate or permit any of the agents, officers, or directors of any member bank to violate any of the provisions of this section or regulations of the board made under authority thereof, every director and officer participating in or assenting to such violation shall be held liable m his personal and individual capacity for all damages which the member bank, its shareholders, or any other persons shall have Sustained in consequence of such violati0I1.” Amendment, ,0 R8, Sec. 7. That section fifty-two hundred and eight of the Revised ¤¤¤<1S¤m=¤¤¤- Statutes as amended by the Act of July twelfth, eighteen hundred and eighty-two, and section fifty-two hundred and nine of the Revised Statutes as amended by the Acts of April sixth, eighteen hundred