Whoever makes, issues, circulates, or pays out any note, check, memorandum, token, or other obligation for a less sum than $1, intended to circulate as money or to be received or used in lieu of lawful money of the United States, shall be fined under this title or imprisoned not more than six months, or both.
June 25, 1948, ch. 64562 Stat. 701Pub. L. 103–322, title XXXIII, § 330016(1)(G)108 Stat. 2147(, ; , , .)
Historical and Revision Notes
Mar. 4, 1909, ch. 321, § 17835 Stat. 1122Based on title 18, U.S.C., 1940 ed., § 293 (, ).
U.S. v. Monongahela Bridge CoStettinius v. U.SNumerous suggestions, of which that of Mr. E. M. Million, of Arlington, Va., is typical, recommend that this section be omitted as obsolete or revised to except commercial obligations. However, since the decisions make it plain that only obligations intended to circulate as money are within the provisions of this section and that commercial checks of less than $1 are not affected, there seems no reason so to rewrite the section. (See ., Fed. Cas. No. 15,796; ., Fed. Cas. No. 13,387.)
Minor changes were made in phraseology.
Editorial Notes
Amendments
Pub. L. 103–3221994— substituted “fined under this title” for “fined not more than $500”.