All money of the Corporation not otherwise employed may be deposited with the Treasurer of the United States or in any bank approved by the Secretary of the Treasury, subject to withdrawal by the Corporation at any time, or with the approval of the Secretary of the Treasury may be invested in obligations of the United States or in obligations guaranteed as to principal and interest by the United States. Subject to the approval of the Secretary of the Treasury, the Federal Reserve banks are hereby authorized and directed to act as depositories, custodians, and fiscal agents for the Corporation in the performance of its powers conferred by this subchapter.
Feb. 16, 1938, ch. 3052 Stat. 75Pub. L. 110–234, title XII, § 12033(c)(2)(B)122 Stat. 1405Pub. L. 110–246, § 4(a)122 Stat. 1664(, title V, § 510, ; , , ; , title XII, § 12033(c)(2)(B), , , 2167.)
Editorial Notes
Codification
Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4(a) of Pub. L. 110–246 and made identical amendments to this section. The amendments by were repealed by .
Amendments
Pub. L. 110–246, § 12033(c)(2)(B)2008—, substituted “this subchapter” for “this chapter”.
Statutory Notes and Related Subsidiaries
Effective Date of 2008 Amendment
Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4 of Pub. L. 110–246section 8701 of this titleAmendment of this section and repeal of by effective , the date of enactment of , see , set out as an Effective Date note under .
Executive Documents
Transfer of Functions
60 Stat. 1100section 1503 of this titleAdministration of program of Federal Crop Insurance Corporation transferred to Secretary of Agriculture by 1946 Reorg. Plan No. 3, § 501, eff. , 11 F.R. 7877, . See note set out under .
section 1503 of this titleWartime consolidation of Federal Crop Insurance Corporation into Agricultural Conservation and Adjustment Administration, see note set out under .