Page:United States Statutes at Large Volume 76A.djvu/529

–433– -433§ 751. Definition As used in this chapter, "director" embraces any of the persons having by law the direction or management of the affairs of a corporation, by whatever name they are described in its charter or bylaws. § 752. Fictitious or fraudulent subscriptions Whoever: (1) signs the name of a fictitious person to a subscription for, or agreement to take, stock in a corporation existing or proposed; or (2) signs to a subscription or agreement the name of a person, knowing that that person has not means or does not intend in good faith to comply with all the terms thereof, or under an understanding or agreement that the terms of the subscription or agreement are not to be complied with or enforced— shall be fined not more than $100 or imprisoned in jail not more than 30 days, or both. § 753. Exhibiting false records to public officer or examining board Whoever, being an officer, agent or clerk of: (1) a corporation; or (2) any persons proposing to organize a corporation or to increase the capital stock of a corporation— knowingly exhibits a false, forged or altered book, paper, voucher, security or other instrmnent of evidence to a public officer or board authorized by law to examine the organization of the corporation, to investigate its affairs or to allow an increase of its capital, with intent to deceive the officer or board with respect thereto, shall be imprisoned in the penitentiary not more than 10 years. § 754. Unauthorized use of name in prospectus or advertisement Whoever, without being authorized so to do, subscribes the name of another person to, or inserts the name of another person in, a prospectus, circular or other advertisement or announcement of a corporation or joint stock association existing or intended to be formed, with intent to permit the document to be published and thereby to lead persons to believe that the person whose name is so subscribed is an officer, agent, member or promoter of the corporation or association, shall be fined not more than $100 or imprisoned in jail not more than 30 days, or both. § 755. Issuance of unauthorized shares Whoever, being a director of a stock corporation, knowingly concurs in a vote or act of the directors of the corporation to issue shares of stock beyond the amount authorized by its articles, shall be fined not more than $1,000 or imprisoned in jail not more than one year, or both. § 756. Fraudulent dividend or distribution of assets Whoever, being a director of a stock corporation, concurs in a vote or act of the directors of the corporation or any of them, knowingly and with dishonest or fraudulent purpose, to make any dividend or distribution of assets, except in the cases and in the manner allowed by law, either with the design of defrauding creditors or shareholders or of giving a false appearance to the value of the stock and thereby defrauding subscribers or purchasers, shall be fined not more than $5,000 or imprisoned in the penitentiary not more than five years, or both.

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