Page:United States Statutes at Large Volume 38 Part 1.djvu/752

This page needs to be proofread.


SIXTY-THIRD oorrerrnss. sm. 11. os. 323. 1914. 733 lawful for him to continue as such for one year thereafter under said election or employment. _ No bank, banking association or trust company, organized or oper- itilegrge m°°i°lp°l` ating under the laws of the United States, in any city or incorporated ,,,§“'§§°$,,§;,,,,°‘§,‘,,°§{§,g, town or village of more than two hundred thousand inhabitants, as ¤¤<i;11>riv¤wb¤¤¤,f¤r- shown by the last preceding decennial census of the United States, bm °°‘ shall have as a director or other officer or employee any private banker or any director or other officer or employee of any other bank, banking association or trust company located 111 the same place: ,, , Promkied, That nothing in this section shall ap l to mutual savings Mutual savings banks not havi%ra capital stock represented) gy shares: Provzlied °°{},,",?,,,,°‘,,fQ};{"‘{§L 8,,,,,,, {urther, That a ector or other officer or employee of such bank, gg¤ggta!gm¤{•&¢¤¤¤¤- anking association, or trust company may be a director or other ` officer or employee of not more than one other bank or trust company organized under the laws of the United States or any State where the entire_ca ital stock of one is owned by stockholders in the other: ‘ Ami further, That nothing contained in this section shall h%°'°* '°“°"° forbi a director of class A of a Federal reserve bank, as defined in the ana. p. ass. Federal Reserve Act, from being an officer or director or both an officer and director in one member bank. That from and after two years from the date of the approval of this ,,,B,_‘§°‘§§,*{,§{’0,°‘,§,“,§,'g Act no person at the same time shall be a director in any two or- more or mvrgcompeting corporations, any one of which has capital, s lus, and undivided °°rp°°1°°S' prohts aggregating more than $1,000,000, engagurlg in whole or in part rn commerce, other than banks, banking associations, trust companies ,,,§f,*,,}‘I,§,?,'i,‘,’}.§{‘° ‘° and common car·riers subject to the Act to rsgulate commerce, ap- V¤¤·¤4·1>-im proved February fourth eighteen hundred an eighty-seven, if such corporations are or shall have been theretofore, y virtue of their busmess and location of operation, competitors, so that the elimination of competition by agreement between them would constitute a D t I ti of violation of any of the provisions of any of the antitrust laws. The eugrgiiit? °° °° eligibility of a director under the foregoing mprovision shall be determined by the aggregate amount of the capi , surplus, and undivided profits, exclusive o dividends declared but not paid to stockholders, at the end of the iiscaldyear of said corporation next preceding the Tm mmm election of directors, an when a director has been elected in accord- me wm, ` ance with the provisions of this Act it shall be lawful for him to continue as such or one year thereafter. When any person elected or chosen as a director or officer or selected m§°?,,"§,° ,,,‘§‘,‘;‘§°,,§,,§§’,{ as an em loyee of any bank or other corggation subject to the provi- RY <>·•=¤¤· sions of Act is eligible at the time of election or selection to act for such bank or other corporation in such caplacity his ty to act in such capacit shall not be affected and e shall not me or be deemed amenable to any of the provisions hereof by reason of any change in the affairs of such bank or other corporation from whatsoever cause, whether specihcally excepted by any of thedprovisions hereof or not, until the expiration of one year from the ate of his election or employment. hmm t { Sec. 9. Every president, director, officer or manager of any Erm, bezzunmtllf b§’2§§§ association or corporation engaged in commerce as a common carrier, ¤*°¤ °°*"*°’ °m°°¤· who embezzles, steals, abstracts or willfully misapplies, or permits to be misapplied, any of the moneys, funds, credits, securities, property or assets of such firm, association or corporation, arismg_or accruing from, or used in, such commerce, i11 whole or in part, or willfully or knowrn ly converts the same to his own use or to the use of another, shall ge deemed guilty of a felony and upon conviction shall be fined not less than $500 or confined in the penitentiary not less than one year nor more than ten years, or both, rn the discretion ef the court" . Venue of prosecu- Prosecutions hereunder may be in the district court of the United um. States for the district wherein the offense may have been committed. -