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U.S. Code as of:
01/19/04
Section 65. Information required from export trade corporation; powers of Federal Trade Commission
Every association which engages solely in export trade, within
thirty days after its creation, shall file with the Federal Trade
Commission a verified written statement setting forth the location
of its offices or places of business and the names and addresses of
all its officers and of all its stockholders or members, and if a
corporation, a copy of its certificate or articles of incorporation
and bylaws, and if unincorporated, a copy of its articles or
contract of association, and on the 1st day of January of each year
every association engaged solely in export trade shall make a like
statement of the location of its offices or places of business and
the names and addresses of all its officers and of all its
stockholders or members and of all amendments to and changes in its
articles or certificate of incorporation or in its articles or
contract of association. It shall also furnish to the Commission
such information as the Commission may require as to its
organization business, conduct, practices, management, and relation
to other associations, corporations, partnerships, and individuals.
Any association which shall fail so to do shall not have the
benefit of the provisions of sections 62 and 63 of this title, and
it shall also forfeit to the United States the sum of $100 for each
and every day of the continuance of such failure, which forfeiture
shall be payable into the Treasury of the United States, and shall
be recoverable in a civil suit in the name of the United States
brought in the district where the association has its principal
office, or in any district in which it shall do business. It shall
be the duty of the various United States attorneys, under the
direction of the Attorney General of the United States, to
prosecute for the recovery of the forfeiture. The costs and
expenses of such prosecution shall be paid out of the appropriation
for the expenses of the courts of the United States.
Whenever the Federal Trade Commission shall have reason to
believe that an association or any agreement made or act done by
such association is in restraint of trade within the United States
or in restraint of the export trade of any domestic competitor of
such association, or that an association either in the United
States or elsewhere has entered into any agreement, understanding,
or conspiracy, or done any act which artificially or intentionally
enhances or depresses prices within the United States of
commodities of the class exported by such association, or which
substantially lessens competition within the United States or
otherwise restrains trade therein, it shall summon such
association, its officers, and agents to appear before it, and
thereafter conduct an investigation into the alleged violations of
law. Upon investigation, if it shall conclude that the law has been
violated, it may make to such association recommendations for the
readjustment of its business, in order that it may thereafter
maintain its organization and management and conduct its business
in accordance with law. If such association fails to comply with
the recommendations of the Federal Trade Commission, said
Commission shall refer its findings and recommendations to the
Attorney General of the United States for such action thereon as he
may deem proper.
For the purpose of enforcing these provisions the Federal Trade
Commission shall have all the powers, so far as applicable, given
it in the Federal Trade Commission Act [15 U.S.C. 41 et seq.].
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