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Sec. 22 FEDERAL RESERVE ACT 
for or receives or consents or agrees to receive any fee, 
commission, gift, or thing of value from any person, firm, 
Or corporation, for procuring or endeavoring to procure 
for such person, firm, or corporation, or for any other 
Person, firm, or corporation, any loan from or the pur- 
chase or discount of any paper, note, draft, check, or 
bill of exchange by such member bank shall be deemed 
guilty of a misdemeanor and shall be imprisoned not 
more than one year or fined not more than $5,000, or 
both, 
(d) Any member bank may contract for, or purchase 
from, any of its directors or from any firm of which any 
of its directors is a member, any securities or other 
Property when (and not otherwise) such purchase is 
made in the regular course of business upon terms 
not less favorable to the bank than those offered to 
others, or when such purchase is authorized by a majority 
of the board of directors not interested in the sale of such 
securities or property, such authority to be evidenced by 
the affirmative vote or written assent of such directors: 
Provided, however, That when any director, or firm of 
which any director is a member, acting for or on behalf 
of others, sells securities or other property to a member 
bank, the Federal Reserve Board by regulation may, 
In any or all cases, require a full disclosure to be made, 
on forms to be prescribed by it, of all commissions or 
other considerations received, and whenever such director 
or firm, acting in his or its own behalf, sells securities or 
other property to the bank the Federal Reserve Board 
by regulation, may require a full disclosure of all profit 
realized from such sale. 
Any member bank may sell securities or other property 
to any of its directors, or to a firm of which any of its 
directors is a member, in the regular course of business 
on terms not more favorable to such director or firm 
than those offered to others, or when such sale is author- 
ized by a majority of the board of directors of a member 
bank to be evidenced by their affirmative vote or written 
assent: Provided, however, That nothing in this sub- 
section contained shall be construed as authorizing 
member banks to purchase or sell securities or other 
property which such banks are not otherwise authorized 
by law to purchase or sell. 
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