US Code

Public Law 119-87 (04/30/2026)

15 U.S.C. § 714

Creation and purpose of Corporation

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 (, ; , .)

Editorial Notes

Amendments

1949—Act , placed the general supervision and direction of the Commodity Credit Corporation in the Secretary of Agriculture.

Statutory Notes and Related Subsidiaries

Effective Date

oSection 18 of act , provided that sections 714 to 714 of this title shall take effect as of midnight .

Short Title

Congress in enacting sections 714 to 714p of this title provided by section 1 of act , that they should be popularly known as the “Commodity Credit Corporation Charter Act”.

Establishing Quality as Goal for Commodity Credit Corporation Programs

Pub. L. 101–624, title XXV, § 2517104 Stat. 4078 Pub. L. 104–66, title I, § 1011(h)109 Stat. 710

“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.”
, formerly § 2518, , , as renumbered by , , , provided that:

Pub. L. 104–127, title VII, § 711110 Stat. 1112 Pub. L. 101–624Pub. L. 104–66, title I, § 1011(h)109 Stat. 710 section 2517 of Pub. L. 101–624section 2518 of Pub. L. 101–624section 2517 of Pub. L. 101–624[, , , which directed the repeal of section 2517 of the Food, Agriculture, Conservation, and Trade Act of 1990, , 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not executed to provisions set out above, to reflect the probable intent of Congress and the amendment by , , , which repealed relating to such study, and renumbered , set out above, as .]

Executive Documents

Exceptions From Transfer of Functions

section 712a of this titleFor 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 .