Page:United States Statutes at Large Volume 54 Part 1.djvu/42

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PUBLIC LAWS-CH. 2-NOV. 4 , 1939 Dealing in obliga- tions of belligerent states, etc., unlawful. Sale of certain ma- terials to persons in belligerent states. Existing indebted- ness. Penalty. Revocation of proc- lamation, effect. Solicitation or re- ceipt of contributions. Unofficial solicita- tions to relieve human suffering. Rules and regula- tions. Revocation of proc- lamation, effect. American republics. FINANCIAL TRANSACTIONS SEC. 7. (a) Whenever the President shall have issued a procla- mation under the authority of section 1 (a), it shall thereafter be unlawful for any person within the United States to purchase, sell, or exchange bonds, securities, or other obligations of the government of any state named in such proclamation, or of any political sub- division of any such state, or of any person acting for or on behalf of the government of any such state, or political subdivision thereof, issued after the date of such proclamation, or to make any loan or extend any credit (other than necessary credits accruing in connec- tion with the transmission of telegraph, cable, wireless and telephone services) to any such government, political subdivision, or person. The provisions of this subsection shall also apply to the sale by any person within the United States to any person in a state named in any such proclamation of any articles or materials listed in a proclamation referred to in or issued under the authority of section 12 (i). (b) The provisions of this section shall not apply to a renewal or adjustment of such indebtedness as may exist on the date of such proclamation. (c) Whoever shall knowingly violate any of the provisions of this section or of any regulations issued thereunder shall, upon conviction thereof, be fined not more than $50,000 or imprisoned for not more than five years, or both. Should the violation be by a corporation, organization, or association, each officer or director thereof participat- ing in the violation shall be liable to the penalty herein prescribed. (d) Whenever any proclamation issued under the authority of sec- tion 1 (a) shall have been revoked with respect to any state the provi- sions of this section shall thereupon cease to apply with respect to such state, except as to offenses committed prior to such revocation. SOLICITATION AND COLLECTION OF FUNDS AND CONTRIBUTIONS SEC. 8 . (a) Whenever the President shall have issued a procla- mation under the authority of section 1 (a), it shall thereafter be unlawful for any person within the United States to solicit or receive any contribution for or on behalf of the government of any state named in such proclamation or for or on behalf of any agent or instrumentality of any such state. (b) Nothing in this section shall be construed to prohibit the solicitation or collection of funds and contributions to be used for medical aid and assistance, or for food and clothing to relieve human suffering, when such solicitation or collection of funds and contribu- tions is made on behalf of and for use by any person or organization which is not acting for or on behalf of any such government, but all such solicitations and collections of funds and contributions shall be in accordance with and subject to such rules and regulations as may be prescribed. (c) Whenever any proclamation issued under the authority of sec- tion 1 (a) shall have been revoked with respect to any state the pro- visions of this section shall thereupon cease to apply with respect to such state, except as to offenses committed prior to such revocation. AMERICAN REPUBLICS SEC. 9. This joint resolution (except section 12) shall not apply to any American republic engaged in war against a non-American state or states, provided the American republic is not cooperating with a non-American state or states in such war. 8 [54 STAT.