S 1380 · 96th Congress · Crime and Law Enforcement
Securities Protection Act
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Referred to Senate Committee on the Judiciary.(1979-06-20)
Plain Language Summary
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Establishes criminal penalties for whoever: (1) with intent to defraud or having reason to believe his act will facilitate fraud forges or counterfeits any marketable security; (2) knowingly executes in any manner an unauthorized copy of any marketable security; and (3) with intent to defraud or having reason to believe his act will facilitate fraud possesses or controls any tool or other thing used in forging or counterfeiting any marketable security. Entitles any corporation, business, or government whose securities have been forged or counterfeited to recover damages (equal to three times the security's value) in a civil suit in a district court. Establishes criminal penalties for whoever receives, possesses, or offers for sale, or attempts to receive, possess, or offer for sale any marketable security of the United States knowing the same to be stolen, converted, or obtained by fraud. Establishes criminal penalties for whoever: (1) steals, embezzles, or fraudulently converts, or attempts to steal, embezzle, or fraudulently convert any security in the possession or control of any financial institution; (2) receives or possesses any security which has been stolen, embezzled, or c…
Summarized by Claude AI · Non-partisan · For informational purposes only