Acceptance of consideration for adjustment of farm indebtedness
Official text prohibited actmental stateif conditionpenaltylegal term
Whoever, being an officer or employee of, or person acting for the United States or any agency thereof, accepts any fee, commission, gift, or other consideration in connection with the compromise, adjustment, or cancellation of any farm indebtedness as provided by sections 1150, 1150a, and 1150b of Title 12, shall be or imprisoned not more than one year, or both.
History: (June 25, 1948, ch. 645, 62 Stat. 696 (PDF, 39 MB), §217, formerly §222; renumbered §217, Pub. L. 87–849, §1(d), Oct. 23, 1962, 76 Stat. 1125 (PDF, 1.6 MB); Pub. L. 103–322, title XXXIII, §330016(1)(H), Sept. 13, 1994, 108 Stat. 2147 (PDF, 52 MB).)
Simplified explanation
It is a federal crime for a federal officer or employee, or anyone acting for the United States, to accept a fee, commission, gift, or other payment in connection with reducing, adjusting, or canceling farm debt under certain federal farm debt laws.