Federal · Title 15 — Commerce and Trade

15 U.S.C. § 717k: Officials dealing in securities

Misdemeanor

What this law says, in plain English

Officers or directors of natural-gas companies are prohibited from personally receiving money or benefits from their company's sale or hypothecation of securities, or from sharing in proceeds or non-liquidating dividends.

Read the full statutory text

It shall be unlawful for any officer or director of any natural-gas company to receive for his own benefit, directly or indirectly, any money or thing of value in respect to the negotiation, hypothecation, or sale by such natural-gas company of any security issued, or to be issued, by such natural-gas company, or to share in any of the proceeds thereof, or to participate in the making or paying of any dividends, other than liquidating dividends, of such natural-gas company from any funds properly included in capital account.

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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.