Title 15 — Commerce and Trade
Chapter 1 — Monopolies and Combinations in Restraint of Trade
§ 24. Liability of directors and agents of corporation
Statutory text
Whenever a corporation shall violate any of the penal provisions of the antitrust laws, such violation shall be deemed to be also that of the individual directors, officers, or agents of such corporation who shall have authorized, ordered, or done any of the acts constituting in whole or in part such violation, and such violation shall be deemed a misdemeanor, and upon conviction therefor of any such director, officer, or agent he shall be punished by a fine of not exceeding $5,000 or by imprisonment for not exceeding one year, or by both, in the discretion of the court.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 63–323 § 14 · 38 Stat. 730
Enacted · 15 U.S.C. § 24
(Oct. 15, 1914, ch. 323, § 14, 38 Stat. 736.)
Source evidence
Code source credit
(Oct. 15, 1914, ch. 323, § 14, 38 Stat. 736.)Enacted provision · exact public law section
Sec. 14. That whenever a corporation shall violate any of the penal provisions of the antitrust laws, such violation shall be deemed to be also that of the individual directors, officers, or agents of such corporation who shall have authorized, ordered, or done any of the acts constituting in whole or in part such violation, and such violation Punishment. shall be deemed a misdemeanor, and upon conviction therefor of any such director, officer, or agent he shall be punished by a fine of not exceeding $5,000 or by imprisonment for not exceeding one year, or by both, in the discretion of the court.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
The antitrust laws, referred to in text, are defined in section 12 of this title.
Credits
(Oct. 15, 1914, ch. 323, § 14, 38 Stat. 736.)