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22 U.S.C. § 447 — Financial transactions
Federal law — U.S. Code and appendices · legal_authorities
**(a) Bonds, securities, or other obligations** Whenever the President shall have issued a proclamation under the authority of [section 441(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section441/a&num=0&edition=prelim), 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) 11 See References in Text note below. of this title.
**(b) Renewal or adjustment of indebtedness** The provisions of this section shall not apply to a renewal or adjustment of such indebtedness as may exist on the date of such proclamation.
**(c) Fine and imprisonment** Whoever shall knowingly violate any of the provisions of this section or of any regulations issued thereunder shall, upon conviction thereof, be fined not more than $50,000 or imprisoned for not more than five years, or both. Should the violation be by a corporation, organization, or association, each officer or director thereof participating in the
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Source location: Title 22, Chapter 9, § 447; chapter-009-foreign-wars-war-materials-and-neutrality.md
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**(a) Bonds, securities, or other obligations** Whenever the President shall have issued a proclamation under the authority of [section 441(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section441/a&num=0&edition=prelim), 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) 11 See References in Text note below. of this title.
**(b) Renewal or adjustment of indebtedness** The provisions of this section shall not apply to a renewal or adjustment of such indebtedness as may exist on the date of such proclamation.
**(c) Fine and imprisonment** Whoever shall knowingly violate any of the provisions of this section or of any regulations issued thereunder shall, upon conviction thereof, be fined not more than $50,000 or imprisoned for not more than five years, or both. Should the violation be by a corporation, organization, or association, each officer or director thereof participating in the violation shall be liable to the penalty herein prescribed.
**(d) Revocation of proclamation** Whenever any proclamation issued under the authority of [section 441(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section441/a&num=0&edition=prelim) shall have been revoked with respect to any state the provisions of this section shall thereupon cease to apply with respect to such state, except as to offenses committed prior to such revocation.
**(e) Wartime** This section shall not be operative when the United States is at war.
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Federal law — U.S. Code and appendices · legal_authorities
A Council of National Defense is established, for the coordination of industries and resources for the national security and welfare, to consist of the Secretary of the Army, the Secretary of the Navy, the Secretary of the Interior, the Secretary of Agriculture, the Secretary of Commerce, and the Secretary of Labor.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section 245j, Joint Res. Nov. 4, 1939, ch. 2, § 1, 54 Stat. 4, which related to a proclamation of a state of war between foreign states, was transferred to [section 441 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section441&num=0&edition=prelim).
Section 245j–1, Joint Res. Nov. 4, 1939, ch. 2, § 2, 54 Stat. 4, which related to commerce with states engaged in armed conflict, was transferred to [section 442 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section442&num=0&edition=prelim) and was repealed by Joint Res. Nov. 17, 1941, ch. 473, § 1, 55 Stat. 764.
Section 245j–2, Joint Res. Nov. 4, 1939, ch. 2, § 3, 54 Stat. 7, which related to combat areas, was transferred to [section 443 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section443&num=0&edition=prelim) and was repealed by Joint Res. Nov. 17, 1941, ch. 473, § 1, 55 Stat. 764.
Section 245j–3, Joint Res. Nov. 4, 1939, ch. 2, § 4, 54 Stat. 7, as amended, which related to American Red Cross vessels, was transferred to [section 444 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section444&num=0&edition=prelim).
Section 245j–4, Joint Res. Nov. 4, 1939, ch. 2, § 5, 54 Stat. 7, which related to travel on vessels of belligerent states, was transferred to [section 445 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section445&num=0&edition=prelim).
Section 245j–5, Joint Res. Nov. 4, 1939, ch. 2, § 6, 54 Stat. 7, which related to the arming of American merchant vessels, was transferred to [section 446 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section446&nu
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 245j to 245j–19
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Federal law — U.S. Code and appendices · legal_authorities
Page 297
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 447
1 See References in Text note below.
fering: Provided, That where permission has not
been given by the blockading power, no Amer-
ican Red Cross vessel shall enter a port where a
blockade by aircraft, surface vessel, or sub-
marine is being attempted through the destruc-
tion of vessels, or into a port of any country
where such blockade of the whole country is
being so attempted: Provided further, That such
American Red Cross vessel shall be on a mission
of mercy only and carrying only Red Cross ma-
terials and personnel.
(b) Transport of refugee children
The provisions of sections 442(a) and 443 1 of
this title shall not prohibit a vessel, in ballast,
unarmed, and not under convoy, and trans-
porting refugee children, under sixteen years of
age, from war zones, or combat areas, and shall
not prohibit such vessel entering into such war
zones or combat areas for this purpose, together
with such necessary American citizen adult per-
sonnel in charge as may be approved by the Sec-
retary of State, subject to the provisions of the
immigration laws, if such vessel is proceeding
under safe conduct granted by all of the States
named in the proclamations issued under the au-
thority of section 441(a) of this title, and if such
vessel has painted on a large scale prominently,
distinctly, and unmistakably on each side there-
of and upon the superstructure thereof plainly
visible from the air an American flag and a
statement to the effect that such vessel is a ref-
ugee-child rescue ship of the United States or
under United States registry: Provided, That
every such child so brought into the United
States shall, previous to departure from the port
of embarkation, have been so sponsored by some
res
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