15-U.S.C.-714
§714 – Creation and Purpose of Corporation
Pathway
Title 15 > Chapter 15 > Subchapter II > Section 714
Details
- Reference: Section 714
- Legend: §714 – Creation and Purpose of Corporation
- USCode Year: 2013
Provision Content
For the purpose of stabilizing, supporting, and protecting farm income and prices, of assisting in the maintenance of balanced and adequate supplies of agricultural commodities, products thereof, foods, feeds, and fibers (hereinafter collectively referred to as agricultural commodities), and of facilitating the orderly distribution of agricultural commodities, there is created a body corporate to be known as Commodity Credit Corporation (hereinafter referred to as the Corporation), which shall be an agency and instrumentality of the United States, within the Department of Agriculture, subject to the general supervision and direction of the Secretary of Agriculture (hereinafter referred to as the Secretary).
(June 29, 1948, ch. 704, §2, 62 Stat. 1070; June 7, 1949, ch. 175, §1, 63 Stat. 154.)
Amendments
1949—Act June 7, 1949, placed the general supervision and direction of the Commodity Credit Corporation in the Secretary of Agriculture.
Effective Date
Section 18 of act June 29, 1948, provided that sections 714 to 714o of this title shall take effect as of midnight June 30, 1948.
Short Title
Congress in enacting sections 714 to 714p of this title provided by section 1 of act June 29, 1948, that they should be popularly known as the Commodity Credit Corporation Charter Act.
Exceptions From Transfer of Functions
For exception of functions of corporations of Department of Agriculture from transfer of functions to Secretary of Agriculture by Reorg. Plan No. 2 of 1953, see Exceptions From Transfer of Functions note set out under section 712a of this title.
Establishing Quality as Goal for Commodity Credit Corporation Programs
Pub. L. 101–624, title XXV, §2517, formerly §2518, Nov. 28, 1990, 104 Stat. 4078, as renumbered by Pub. L. 104–66, title I, §1011(h), Dec. 21, 1995, 109 Stat. 710, provided that: In carrying out its activities the Commodity Credit Corporation shall, to the extent practicable, provide for program provisions that promote quality in the production and marketing of crops and livestock in the United States.
[Pub. L. 104–127, title VII, §711, Apr. 4, 1996, 110 Stat. 1112, which directed the repeal of section 2517 of the Food, Agriculture, Conservation, and Trade Act of 1990, Pub. L. 101–624, relating to a study of transportation of fertilizer and agricultural chemicals to farmers, was not executed to provisions set out above, to reflect the probable intent of Congress and the amendment by Pub. L. 104–66, title I, §1011(h), Dec. 21, 1995, 109 Stat. 710, which repealed section 2517 of Pub. L. 101–624 relating to such study, and renumbered section 2518 of Pub. L. 101–624, set out above, as section 2517 of Pub. L. 101–624.]
U.S. Encyclopedia of Law Coverage
15-U.S.C.-713A-7 in the Legal Encyclopedia: Trade Law
In this entry about 15-U.S.C.-713A-7, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.
15-U.S.C.-713A-3 in the Legal Encyclopedia: Economic Recovery
In this entry about 15-U.S.C.-713A-3, find legal reference material, bibliographies and premiere content related to economic recovery in the American Encyclopedia of Law, presenting a comprehensive view of the United States economic recovery-specific issues, written by authorities in the field.
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