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Crimes and Criminal Procedure - 18 USC Section 955
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01/19/04
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.
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."
Last modified: April 13, 2006
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