Editorial Notes
Codification
Jan. 31, 1935, ch. 2, § 749 Stat. 4Jan. 26, 1937, ch. 6, § 2(a)50 Stat. 5Mar. 4, 1939, ch. 5, § 1(a)53 Stat. 510Dec. 23, 1943, ch. 38357 Stat. 643section 714 of this titleSection, acts , ; , ; , ; , , was omitted as terminated by its own terms on . It related to the Commodity Credit Corporation, which was recreated as a Federal corporation by .
lSubsec. (a), continuing the Commodity Credit Corporation, a Delaware corporation, until the close of business on , authorizing the Corporation to use all its assets (including capital and net earnings therefrom and all moneys allocated to or borrowed by it) in the exercise of its functions as a United States agency, including the making of loans on agricultural commodities, and requiring the Corporation to maintain complete and accurate books of account and to determine the procedures to be followed in the transaction of corporate business, was superseded by sections 714, 714b(a), (d), (), and 714f of this title.
section 714b(k) of this titleInitial proviso clause of subsec. (b), “That the Corporation shall continue to have the authority to make final and conclusive settlement and adjustment of any claims by or against the Corporation or the accounts of its fiscal officers” was superseded by .
31 U.S.C. 9101(3)Remainder of section, relating to audit of financial transactions of the Corporation, was superseded by sections 841 to 870 of former Title 31 [see chapter 91 of Title 31, Money and Finance]. See, particularly, sections 846, 850 and 851 of former title 31 [, 9105 and 9106].
Statutory Notes and Related Subsidiaries
Repeals
Act July 1, 1941, ch. 270, § 155 Stat. 498Pub. L. 89–554, § 8(a)80 Stat. 651, , formerly classified to this section, was repealed by , , .
July 16, 1943, ch. 241, § 157 Stat. 556Feb. 28, 1944, ch. 71, § 158 Stat. 105Apr. 12, 1945, ch. 54, § 559 Stat. 51June 30, 1947, ch. 16461 Stat. 201Pub. L. 89–554, § 8(a)80 Stat. 652Acts , ; , ; , ; , , formerly classified to this section, were repealed by , , , 654.
Dissolution of Corporation
oSecretary of Agriculture authorized to dissolve the Delaware corporation under authority of section 714 of this title.
Transfer of Assets of Corporation
section 714n of this titleAssets, funds, liabilities, etc., of Delaware corporation transferred to newly created Commodity Credit Corporation under authority of .
Subsidy Operations
Act July 25, 1946, ch. 671, § 660 Stat. 671, , provided that the last paragraph of section 902(e) of the former Appendix to Title 50, War and National Defense, should not apply to operations of the Commodity Credit Corporation and the former Reconstruction Finance Corporation for the fiscal year ending , and placed limitations on certain subsidy payments made during such fiscal year .
Increase in Certain Subsidy Payments
Act July 31, 1945, ch. 33259 Stat. 506, , provided that subsidy payments with respect to livestock, wheat, and butter, shall be increased to certain amounts from time to time by the Secretary of Agriculture.
Allocation of Livestock and Poultry Feeds
Act July 25, 1946, ch. 671, § 1560 Stat. 677, , directed Secretary of Agriculture to allocate livestock and poultry feeds through the Commodity Credit Corporation when an emergency condition arises with regard to such feeds.
Purchases of Wheat Prior to
Act July 25, 1946, ch. 671, § 1660 Stat. 677, , provided that the Commodity Credit Corporation shall offer to purchase the wheat of producers, subject to certain limitations, which wheat has been required to be sold pursuant to Government order and was delivered to a grain elevator prior to .