The Corporation shall at all times maintain complete and accurate books of account and shall file annually with the Secretary of Agriculture a complete report as to the business of the Corporation, a copy of which shall be forwarded by the Secretary of Agriculture to the President for transmission to the Congress. In addition to the annual report, the Corporation shall submit to Congress on a quarterly basis an itemized report of all expenditures over $10,000 made under section 714c or 714i of this title during the period covered by the report, including expenditures in the form of allotments or fund transfers to other agencies and departments of the Federal Government.
June 29, 1948, ch. 704, § 1362 Stat. 1073Pub. L. 104–127, title I, § 161(b)(3)110 Stat. 934(, ; , , .)
Editorial Notes
Amendments
Pub. L. 104–1271996— inserted at end “In addition to the annual report, the Corporation shall submit to Congress on a quarterly basis an itemized report of all expenditures over $10,000 made under section 714c or 714i of this title during the period covered by the report, including expenditures in the form of allotments or fund transfers to other agencies and departments of the Federal Government.”
Statutory Notes and Related Subsidiaries
Termination of Reporting Requirements
section 3003 of Pub. L. 104–66Pub. L. 106–554section 1113 of Title 31For termination, effective , of provisions of law requiring submittal to Congress of any annual, semiannual, or other regular periodic report listed in House Document No. 103–7 (in which the requirement, under the 1st sentence of this section, to transmit to Congress a complete annual report as to the business of the Corporation, is listed on page 46), see , as amended, and section 1(a)(4) [div. A, § 1402] of , set out as notes under , Money and Finance.
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 .
Delegation of Certain Reporting Authority
Memorandum of President of the United States, , 69 F.R. 74941, provided:
Memorandum for the Secretary of Agriculture
section 301 of title 315 U.S.C. 714kBy the authority vested in me as President by the Constitution and the laws of the United States, including , United States Code, I hereby delegate to you the functions conferred upon the President by section 13 of Public Law 806, 80th Congress (), to provide the specified report to the Congress.
You are authorized and directed to publish this memorandum in the Federal Register.