Source: https://www.law.cornell.edu/uscode/text/22/447?quicktabs_8=1
Timestamp: 2016-05-03 15:48:09
Document Index: 605635840

Matched Legal Cases: ['§ 447', '§ 447', '§ 447', '§\u202f7', '§\u202f542', '§\u202f1', '§\u202f1']

22 U.S. Code § 447 - Financial transactions | US Law | LII / Legal Information Institute
U.S. Code › Title 22 › Chapter 9 › Subchapter II › § 447 22 U.S. Code § 447 - Financial transactions
Whenever the President shall have issued a proclamation under the authority of section 441(a) of this title, 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 subdivision 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 connection 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 452(i) [1] of this title.
(Nov. 4, 1939, ch. 2, § 7, 54 Stat. 8; Feb. 21, 1942, ch. 104, 56 Stat. 95.)
Section 452(i) of this title, referred to in subsec. (a), was repealed by act Aug. 26, 1954, ch. 937, title V, § 542(a)(12), 68 Stat. 861. See former section 1934(a) and section 2778(a) of this title.
Operation of Section Postponed Until July 1, 1953
Joint Res. July 3, 1952, ch. 570, § 1(b)(7), 66 Stat. 333, as amended by Joint Res. Mar. 31, 1953, ch. 13, § 1, 67 Stat. 18, provided that this section which is normally operative in time of peace shall not be operative by reason of the termination of a state of war on Apr. 28, 1952, but rather (in addition to being inoperative, in accordance with their terms, in time of war) shall continue to be inoperative until 6 months after the termination of the national emergency proclaimed by the President on Dec. 16, 1950, 1950 Proc. 2914, 15 F.R. 9029, set out as a note preceding section 1 of Title 50, War and National Defense, or until such earlier date or dates as the Congress may provide, but in no event beyond Apr. 1, 1953.