Whoever, with intent to defraud, knowingly conceals, removes, disposes of, or converts to his own use or to that of another, any property mortgaged or pledged to, or held by, the Farm Credit Administration, any Federal intermediate credit bank, or the Federal Crop Insurance Corporation, the Secretary of Agriculture acting through the Farmers Home Administration or successor agency, the Rural Development Administration or successor agency, any production credit association organized under sections 1131–1134m of Title 12, any regional agricultural credit corporation, or any bank for cooperatives, shall be fined under this title or imprisoned not more than five years, or both; but if the value of such property does not exceed $1,000, he shall be fined under this title or imprisoned not more than one year, or both.
June 25, 1948, ch. 64562 Stat. 729May 24, 1949, ch. 139, § 1263 Stat. 91Oct. 31, 1951, ch. 655, § 2165 Stat. 718July 26, 1956, ch. 74170 Stat. 667Pub. L. 87–353, § 3(r)75 Stat. 774Pub. L. 101–624, title XXIII, § 2303(e)104 Stat. 3981Pub. L. 103–322, title XXXIII108 Stat. 2141Pub. L. 104–294, title VI, § 606(a)110 Stat. 3511Pub. L. 106–78, title VII, § 767113 Stat. 1174(, ; , ; , ; , title I, § 109, ; , , ; , , ; , §§ 330004(7), 330016(1)(H), (K), , , 2147; , , ; , , .)
Historical and Revision Notes
Act1948
section 1138d(d) of title 12June 16, 1933, ch. 98, § 6448 Stat. 269Jan. 31, 1934, ch. 7, § 1348 Stat. 347July 22, 1937, ch. 51750 Stat. 532Feb. 16, 1938, ch. 3052 Stat. 76Aug. 14, 1946, ch. 964, § 360 Stat. 1064Based on sections 1026(c) and 1514(d) of title 7, U.S.C., 1940 ed., Agriculture, and , U.S.C., 1940 ed., Banks and Banking (, ; , ; , title IV, § 52(c), ; , title V, § 514(d), ; , ).
To avoid reference to another section the words “the Farm Credit Administration, any Federal intermediate credit bank, the Federal Farm Mortgage Corporation, Federal Crop Insurance Corporation, Farmers’ Home Corporation, or any production credit corporation or corporation in which a production credit corporation holds stock, any regional agricultural credit corporation, or any bank for cooperatives” were substituted for the words “or any corporation referred to in subsection (a) of this section.”
section 1026(c) of title 7section 1514(d) of title 7section 1138(d) of title 12The punishment provision was completely rewritten. The $2,000 fine of , U.S.C., 1940 ed., and the 2-year penalty of that section, , U.S.C., 1940 ed., and , U.S.C., 1940 ed., were incongruous in juxtaposition with other sections of this chapter and were therefore increased to $5,000 and 5 years. (See sections 656 and 657 of this title.)
The smaller punishment for an offense involving $100 or less was added. (See reviser’s notes under sections 641 and 645 of this title.)
Minor changes were made in phraseology.
Act1949
section 658 of title 18section 657 of title 18[Section 12] conforms U.S.C., to administrative practice which in turn was modified to comply with congressional policy. (See note to sec. 11 [of 1949 Act, set out in Legislative History note under ]).
Editorial Notes
References in Text
Section 1131 of Title 12Pub. L. 89–554, § 8(a)80 Stat. 648, included within the reference to sections 1131 to 1134m of Title 12, was repealed by , , .
Pub. L. 92–181, title V, § 585 Stat. 624Sections 1131a, 1131c to 1131g, 1131g–2 to 1131i, 1134 to 1134m of Title 12, included within the reference to sections 1131 to 1134m of Title 12, were repealed by .26(a), , .
Section 1131a–1 of Title 12section 1131g–2 of Title 12Pub. L. 92–181, title V, § 585 Stat. 624Sections 1131a–1 and 1131j of Title 12, included within the reference to sections 1131 to 1134m of Title 12, are omitted from the Code. , was from the Department of Agriculture and Farm Credit Administration Appropriation Act, 1957, and was not repeated in subsequent appropriation acts. Section 1131j was covered by former , prior to its repeal by .26(a), , .
act July 26, 1956, ch. 74170 Stat. 665Sections 1131b and 1131g–1 of Title 12, included within the reference to sections 1131 to 1134m of Title 12, were repealed by , title 1, § 105(c), (q), , 666.
Amendments
Pub. L. 106–781999— inserted “or successor agency” after “Farmers Home Administration” and after “Rural Development Administration”.
Pub. L. 104–2941996— substituted “$1,000” for “$100”.
Pub. L. 103–322, § 330016(1)(H)1994—, (K), substituted “fined under this title” for “fined not more than $5,000” after “cooperatives, shall be” and for “fined not more than $1,000” after “he shall be”.
Pub. L. 103–322, § 330004(7), struck out “Farmers’ Home Corporation,” after “Crop Insurance Corporation,”.
Pub. L. 101–6241990— substituted “Farmers Home Administration, the Rural Development Administration” for “Farmers’ Home Administration”.
Pub. L. 87–3531961— struck out reference to the Federal Farm Mortgage Corporation.
1956—Act , struck out property of any production credit association in which a Production Credit Corporation holds stock.
1951—Act , covered all production credit associations instead of only those in which a Production Credit Corporation holds stock.
1949—Act , made section applicable to the Secretary of Agriculture acting through the Farmers’ Home Administration.
Statutory Notes and Related Subsidiaries
Effective Date of 1956 Amendment
Amendment by act , effective , see section 202(a) of act .
Executive Documents
Exceptions From Transfer of Functions
67 Stat. 633Functions of Corporations of Department of Agriculture; boards of directors and officers of such corporations; Advisory Board of Commodity Credit Corporation; and Farm Credit Administration or any agency, officer, or entity of, under, or subject to supervision of said Administration excepted from functions of officers, agencies, and employees transferred to Secretary of Agriculture by Reorg. Plan No. 2 of 1953, § 1, eff. , 18 F.R. 3219, , set out in the Appendix to Title 5, Government Organization and Employees.
Farm Credit Administration
section 2241 of Title 12Establishment of Farm Credit Administration as independent agency, and other changes in status, functions, etc., see Ex. Ord. No. 6084 set out preceding , Banks and Banking. See also section 2001 et seq. of Title 12.