RECONSTRUCTION FINANCE CORPORATION ACT 343 Sec. 4 Purchase of railroad obligations, loans to railroads. (1) To purchase the obligations of and to make loans to any business enterprise organized or operating under the laws of any State or the United States: Provided, That the purchase of obligations (including equipment trust certificates) of, or the making of loans to, railroads engaged in interstate commerce or air carriers engaged in air transportation as defined in the Civil Aeronautics Act of 1938, as amended, or receivers or trustees thereof, shall be Conditions. with the approval of the Interstate Commerce Commission or the Civil Aeronautics Board, respectively: Provided further, That in the case of such railroads or air carriers which are not in receivership or trusteeship, the Commission or the Board, as the case may be, in connection with its approval of such purchases or loans, shall also certify that such railroad or air carrier, on the basis of present and prospective earnings, may be expected to meet its fixed charges without a reduction thereof through judicial reorganization except that such certificates shall not be required in the case of loans or purchases made for the acquisition of equipment or for maintenance. * (3) In order to aid in financing projects authorized under Federal, State, or municipal law, to purchase the securities and obligations of, or make loans to, (A) States, municipalities, and political subdivisions of States, (B) public agencies and instrumentalities of one or more States, municipalities, and political subdivisions of States, and (C) public corporations, boards, and commissions: Provided, That no such purchase or loan shall be made for payment of ordinary governmental or nonproject operating expenses as distinguished from purchases and loans to aid in financing specific public projects. (4) To make such loans as it may determine to be necessary or appropriate because of floods or other catastrophes. (b) The powers granted in section 4 (a) of this Act shall be subject to the following restrictions and limitations: (1) No financial assistance shall be extended pursuant to paragraphs (1), (2), and (3) of subsection Sec. 4 Renewals or extensions; time limit. Exceptions; bankruptcy, reorganization, sec. 20b. (a) of this section, unless the financial assistance applied for is not otherwise available on reasonable terms. All securities and obligations purchased and all loans made under paragraphs (1), (2), and (3) of subsection (a) of this section shall be of such sound value or so secured as reasonably to assure retirement or repayment and such loans may be made either directly or in cooperation with banks or other lending institutions through agreements to participate or by the purchase of participations, or otherwise. (2) No loan, including renewals or extensions thereof, may be made under sections 4 (a) (1), (2), and (4) for a period or periods exceeding ten years and no securities or obligations maturing more than ten years from date of purchase by the Corporation may be purchased thereunder: Provided, That the foregoing restriction on maturities shall not apply to securities or obligations received by the Corporation as a claimant in bankruptcy or equitable reorganization or as a creditor in proceedings under section 20b of the Interstate Commerce Act, as amended: Provided further, That any loan made or securities and obligations purchased prior to July 1, 1947, may in aid of orderly liquidation thereof or the interest of national security, be renewed or the maturity extended for such period not in excess of ten years and upon such terms as the Corporation may determine: Provided further, That any loan made under section 4 (a) (1) for the purpose of constructing industrial facilities may have a maturity of ten years plus such additional period as is estimated may be required to complete such construction. The Corporation may, in carrying out the provisions of subsection 4 (a) (3), purchase securities and obligations, or make loans, including renewals or extensions thereof, with maturity dates not in excess of forty years, as the Corporation may determine. (3) In agreements to participate in loans, wherein the Corporation's disbursements are deferred, such participations by the Corporation shall be limited Sec. 660 centum of balance of loan outstanding. to 70 Termination of powers (f) The powers granted to the Corporation by this section 4 shall terminate at the close of business on June 30, 1954, but the termination of such powers shall not be granted. construed (1) to prohibit disbursement of funds on purchases of securities and obligations, on loans, or on commitments or agreements to make such purchases or loans, made under this Act prior to the close of business on such date, or (2) to affect the validity or performance of any other agreement made or entered into pursuant to law. (g) As used in this Act, the term "State" includes the District of Columbia, Alaska, Hawaii, Puerto Rico, and the Virgin Islands. NOTE.-The 1947 act, as amended by act of May 25, 1948, quoted above, rewrites § 5, § 605 U. S. Code, the 1948 act extending succession of the Corporation through June 30, 1954. For Reorganization Plan No. 1 of 1951, reorganizing the Corporation, see 16 F. R. 3690. CRIMES AND CRIMINAL PROCEDURE Title 18.-Chapter 31, U. S. Code [Penalties for violation of the Prison-Made Goods Act, requiring proper handling and marking, etc., see 18 U. S. C., § 1761§ 1762, omitted herein.] EMBEZZLEMENT AND THEFT Definitions. 38 Stat. 733. directors, of common Officers, employees, carriers. SEC. 660. [Codified June 25, 1948; enacted October 15, 62 Stat. 730. 1914, as § 9 of the Clayton Act but formerly carried as 18 U.S. C., § 412.] [18 U.S. C., § 660.] Whoever, being a president, director, officer, or manager of any firm, association, or corporation engaged in commerce as a common carrier, or whoever, being an employee of such common carrier riding in or upon any railroad car, motortruck, steamboat, vessel, aircraft or other vehicle of such carrier moving in interstate commerce, embezzles, steals, ab- Embezzlement, stracts, or willfully misapplies, or willfully permits to be theft, etc. Sec. 831 Venue. Action under misapplied, any of the moneys, funds, credits, securities, property, or assets of such firm, association, or corporation arising or accruing from, or used in, such commerce, in whole or in part, or willfully or knowingly converts the same to his own use or to the use of another, shall be fined not more than $5,000 or imprisoned not more than ten years, or both. The offense shall be deemed to have been committed not only in the district where the violation first occurred but also in any district in which the defendant may have taken or had possession of such moneys, funds, credits, securities, property or assets. A judgment of conviction or acquittal on the merits under the laws of any State shall be a bar to any prosecution hereunder for the same act or acts. NOTE.-Falsification of records, including those of moneys received, penalty, part I, Interstate Commerce Act, § 20 (7) (b), supra. 62 Stat. 738. EXPLOSIVES AND COMBUSTIBLES Title 18.-Chapter 39, U. S. Code SEC. 831. [As codified June 25, 1948.] [18 U. S. C., $831.] DEFINITIONS As used in this chapter "Detonating fuzes" means fuzes used in naval or military service to detonate the high-explosive bursting charges of projectiles, mines, bombs, or torpedoes; "Fuzes" means devices used in igniting the bursting charges of projectiles; "Primers" means devices used in igniting the propelling powder charges of ammunition; "Fuses" means the slow-burning fuses used commercially to convey fire to an explosive combustible mass slowly or without danger to the person lighting same; "Fusees" means the fusees ordinarily used on steamboats and railroads as night signals. NOTE.-The above section is based on provisions of the former 18 U. S. C., § 382, May 30, 1908, 35 Stat. 554, Mar. 4, 1909, § 232, 35 Stat. 1134, Mar. 4, 1921, 41 Stat. 1444, Oct. 9, 1940, 54 Stat. 1028. By 20 of the codification, the act, as now stated, is made effective Sept. 1, 1948. Secs. 832-833 SEC. 832. [48 codified June 25, 1948.] [18 U. S. C., 62 Stat. 738. $ 832.] TRANSPORTATION OF DYNAMITE, POWDER, AND FUSES of dynamite, powder, fuses. Whoever knowingly transports, carries, or conveys Transportation within the limits of the jurisdiction of the United States, any high explosive, such as and including, dynamite, blasting caps, detonating fuzes, black powder, gunpowder, or other like explosive, on any car or vehicle of any description operated in the transportation of passengers by a common carrier engaged in interstate or foreign commerce, which car or vehicle is carrying passengers for hire, shall be fined not more than $1,000 or imprisoned Penalties. not more than one year, or both; and, if the death or bodily injury of any person results from a violation of this section, shall be fined not more than $10,000 or imprisoned not more than ten years, or both. conditions. However, under this section, it shall be lawful to trans- Exceptions; port on any such car or vehicle, smokeless powder, primers, fuses, not including detonating fuzes, fireworks, or other similar explosives, and properly packed and marked samples of explosives for laboratory examination, not exceeding a net weight of one-half pound each, and not exceeding twenty samples at one time in a single car or vehicle; but such explosives shall not be carried in that part of a car or vehicle which is being used for the transportation of passengers for hire. Also, it shall be lawful to transport on any such car or vehicle small-arms ammunition in any quantity, and such fusees, torpedoes, rockets, or other signal devices as may be essential to promote safety in operation. This section shall not prevent the transportation of military or naval forces with their accompanying munitions of war on passenger-equipment cars or vehicles. NOTE.-Based on former 18 U. S. C., §§ 382, 385, 386, May 30, 1908, 35 Stat. 554, Mar. 4, 1909, 35 Stat. 1134, Mar. 4, 1921, 41 Stat. 1444, Oct. 9, 1940, 54 Stat. 1028. Carrying explosives, on board vessel, see § 2277, title 18 U. S. C. (Omitted herein); on board passenger vessels, title 46, § 170, U.S. C. SEC. 833. [As codified June 25, 1948.] [18 U. S. C., $833.] TRANSPORTATION OF NITROGLYCERIN Whoever knowingly transports, carries, or conveys within the jurisdiction of the United States, liquid nitroglycerin, fulminate in bulk in dry condition, or other Nitroglycerin, bulk, like fulminate in explosives. |