Federal · Title 12 — Banks and Banking

12 U.S.C. § 631: False representations as to liability of United States for acts of corporation; punishment

Felony

What this law says, in plain English

Making false representations that the United States is liable for a corporation's bonds, obligations, or acts is punishable by fine up to $10,000 and imprisonment up to five years.

Read the full statutory text

Whoever being connected in any capacity with any corporation organized under this subchapter, represents in any way that the United States is liable for the payment of any bond or other obligation, or the interest thereon, issued or incurred by any corporation organized under this subchapter, or that the United States incurs any liability in respect of any act or omission of the corporation, shall be punished by a fine or 1 not more than $10,000 and by imprisonment for not more than five years. 1 So in original. Probably should be “of”.

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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.