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BANKS AND BANKING CHAPTER 5-CRIMES AND OFFENSES

§ 582 · 1 sections

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails.

SUBCHAPTER I-IN GENERAL

Receipt of United States or bank notes as collateral

§ 582

No national banking association shall hereafter offer or receive United States notes or national-bank notes as security or as collateral security for any loan of money, or for a consideration agree to withhold the same from use, or offer or receive the custody or promise of custody of such notes as security, or as collateral security, or consideration for any loan of money. Any association offending against the provisions of this section shall be deemed guilty of a misdemeanor and shall be fined not more than $1,000 and a further sum equal to one-third of the money so loaned. The officer or officers of any association who shall make any such loan shall be liable for a further sum equal to one-quarter of the money loaned; and any fine or penalty incurred by a violation of this section shall be recoverable for the benefit of the party bringing such suit.

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Provisions on this page are reproduced verbatim from official open data. See the attribution line.

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Text of the U.S. Code 2024 Edition (govinfo), imported 2026-07-04. Amendments enacted after the 2024 Edition are not reflected. Read the official text ↗

Source: United States Code / CFR (uscode.house.gov, govinfo.gov) — U.S. federal law, public domain (17 U.S.C. § 105).

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