Mbta (16 Usc 703-712)

§ 701

TITLE 15—COMMERCE AND TRADE

Sec.

713a–14, 713b. Repealed.
713c.
Federal Surplus Commodities Corporation; continuance of existence; purchase and distribution of surplus agricultural commodities.
713c–1.
Annual report to Congress by Federal
Surplus Commodities Corporation.
713c–2.
Purchase and distribution of surplus
fishery products.
713c–3.
Promotion of the free flow of domestically produced fishery products.
713d.
Declaration of purpose.
713d–1.
Critical shortages; recommendations by
President; public hearings.
713d–2.
Food and conservation program; appropriations; administrative expenses.
713d–3.
Authorizations for appropriations.
SUBCHAPTER II—COMMODITY CREDIT
CORPORATION
714.
714a.
714b.
714c.
714d.
714e.
714f.
714g.
714h.
714i.
714j.
714k.
714l.
714m.
714n.
714o.
714p.

Creation and purpose of Corporation.
Location of offices.
General powers of Corporation.
Specific powers of Corporation.
Laws applicable to Corporation.
Capital stock; amount; interest.
Use of funds.
Board of Directors.
Officers and employees; appointment;
duties.
Cooperation with other governmental
agencies.
Utilization of associations and trade facilities.
Records; annual report.
Interest of Members of Congress.
Crimes and offenses.
Transfer of assets of Commodity Credit
Corporation, a Delaware corporation.
Dissolution of Delaware corporation.
Release of innocent purchasers of converted goods.

SUBCHAPTER I—GENERALLY
§ 701. Omitted
Editorial Notes
CODIFICATION
Section was section 1 of the National Industrial Recovery Act of June 16, 1933, ch. 90, 48 Stat. 195, as
amended and modified by act June 14, 1935, ch. 246, 49
Stat. 375, which declared a national emergency and laid
down policy objectives for the industrial recovery.
After the act was held unconstitutional in A. L. A.
Schechter Poultry Corporation v. U.S. (N.Y. 1935, 55 S.Ct.
837, 295 U.S. 495, 79 L.Ed. 1570, 97 A.L.R. 947), the National Recovery Administration was terminated and its
functions and agencies transferred by Executive Orders
Nos. 7252 and 7323, set out under sections 703 to 712 of
this title.

§§ 702 to 702f. Repealed. Pub. L. 89–554, § 8(a),
Sept. 6, 1966, 80 Stat. 648
Section 702, act June 16, 1933, ch. 90, § 2, 48 Stat. 195,
and sections 702a to 702f, act June 19, 1934, ch. 677, §§ 1–6,
48 Stat. 1183, provided for establishment of agencies to
administer the National Industrial Recovery Act during period of emergency and for regulation of employer-employee relations.

§§ 703 to 712. Omitted
Editorial Notes
CODIFICATION
Sections 703 to 712 of this title were sections 3 to 10,
303, and 304 of the National Industrial Recovery Act of

Page 1122

June 16, 1933, ch. 90, 48 Stat. 195, as amended and modified by act June 14, 1935, ch. 246, 49 Stat. 375. After the
act was held unconstitutional in A. L. A. Schechter Poultry Corporation v. U.S. (N. Y. 1935, 55 S. Ct. 837, 295 U. S.
495, 79 L. Ed. 1570, 97 A. L. R. 947), the National Recovery Administration was terminated and its functions
and agencies transferred by Executive Order Nos. 7252
and 7323, see below. Subsequently, sections 303 and 304
of the Act, classified to sections 711 and 712 of this
title, were repealed by Pub. L. 107–217, § 6(b), Aug. 21,
2002, 116 Stat. 1304. For history of the Commodity Credit Corporation, the Electric Home and Farm Authority,
and the Export-Import Bank of Washington, see notes
set out under section 712a of this title.
Executive Documents
EX. ORD. NO. 7252. TERMINATING THE NATIONAL RECOVERY ADMINISTRATION AND TRANSFERRING CERTAIN
AGENCIES AND FUNCTIONS THEREOF TO THE DEPARTMENTS OF COMMERCE AND LABOR
Ex. Ord. No. 7252, Dec. 21, 1935, provided:
1. The National Recovery Administration and the office of Administrator thereof are hereby terminated.
2. The Division of Review, the Division of Business
Cooperation, and the Advisory Council, as constituted
by Ex. Ord. No. 7075 of June 15, 1935, together with all
of their officers and employees, files, records, equipment, and property of every kind, are hereby transferred to the Department of Commerce. The Secretary
of Commerce is authorized and directed, under the general direction of the President, to appoint, employ, discharge, and fix the compensation and define the duties
and direct the conduct of all officers and employees engaged in the administration of the agencies transferred
by this Order to the Department of Commerce, to exercise and perform in connection with the said agencies
the functions and duties now exercised and performed,
or authorized to be exercised and performed, by the National Recovery Administration, to report to the President on all matters relating thereto, and to terminate
the functions and duties of the said agencies not later
than April 1, 1936.
3. The Consumers’ Division, established within the
National Recovery Administration by Executive Order
No. 7120 of July 30, 1935, together with all of its officers
and employees, files, records, equipment, and property
of every kind, are hereby transferred to the Department of Labor. The Secretary of Labor is authorized
and directed, under the general direction of the President, to appoint, employ, discharge, and fix the compensation and define the duties and direct the conduct
of all officers and employees as may be engaged in the
administration of the said Consumers’ Division, to exercise and perform in connection with said Consumers’
Division the functions and duties now exercised and
performed, or authorized to be exercised and performed,
by the National Recovery Administration, and to report to the President on all matters relating thereto.
4. No person transferred by this Order shall by such
transfer acquire a civil service status. Any new appointments under this Order may be made without regard to the Civil Service Rules and Regulations.
5. All Orders and Regulations heretofore issued concerning the administration of Title I of the National
Industrial Recovery Act, as amended, are hereby modified to the extent necessary to make this Order fully effective.
6. This Order shall become effective on January 1,
1936.
EXECUTIVE ORDER NO. 7323
Ex. Ord. No. 7323, Mar. 26, 1936, 1 F.R. 69, created the
Committee of Industrial Analysis to complete the summary of the results and accomplishments of the National Industrial Recovery Administration and report
thereon, which report was transmitted to the President
on February 17, 1937.

Page 1123

TITLE 15—COMMERCE AND TRADE
NATIONAL EMERGENCY COUNCIL

National Emergency Council abolished and functions
transferred to Executive Office of President and to Office of Education in Federal Security Agency by Reorg.
Plan No. II of 1939, §§ 201(a), 301, eff. July 1, 1939, 4 F.R.
2732, 53 Stat. 1434, 1435, set out in the Appendix to Title
5, Government Organization and Employees. See also
sections 401 to 404 of Reorg. Plan No. II of 1939, for provisions relating to transfer of functions, records, property, personnel, and funds.
NATIONAL RESOURCES COMMITTEE
National Resources Committee abolished and functions and personnel transferred to National Resources
Planning Board in Executive Office of President, which
Board was also directed to wind up affairs of the Committee, by Reorg. Plan No. I of 1939, §§ 4, 5, eff. July 1,
1939, 4 F.R. 2727, 2728, 53 Stat. 1423, 1424, set out in the
Appendix to Title 5, Government Organization and Employees. See, also, sections 7 to 9 of 1939 Reorg. Plan for
provisions relating to transfer of records, property,
funds, and personnel.

§ 712a. Limitation of obligations for administrative expenses of certain agencies; limitation
on life of certain agencies
(a) Notwithstanding any other provision of
law, none of the establishments or agencies
named in subsection (b) of this section shall,
after June 30, 1937, incur any obligations for administrative expenses, except pursuant to an annual appropriation specifically therefor, nor
shall any such establishment or agency continue
to function after said date unless established by
or pursuant to law: Provided, That nothing contained in this section shall be construed to extend the period during which any such establishment or agency heretofore has been authorized
by law to function.
(b) [1., 2. Repealed] 3. Federal Housing Administration; 4. Federal Surplus Commodities Corporation; 5. Export-Import Bank of the United
States; 6. Second Export-Import Bank of Washington, District of Columbia; 7. Reconstruction
Finance Corporation; 8. Electric Home and Farm
Authority; 9. Commodity Credit Corporation; 10.
Federal Emergency Administration of Public
Works; [11. Repealed] 12. Reconstruction Finance Mortgage Company.
(June 22, 1936, ch. 689, § 7, 49 Stat. 1647; Pub. L.
87–353, § 3(l), Oct. 4, 1961, 75 Stat. 774; Pub. L.
90–267, § 1(a), Mar. 13, 1968, 82 Stat. 47; Pub. L.
101–73, title VII, § 741, Aug. 9, 1989, 103 Stat. 436.)
Editorial Notes
AMENDMENTS
1989—Subsec. (b). Pub. L. 101–73 struck out ‘‘1. Federal Home Loan Bank Board; 2. Home Owners’ Loan
Corporation;’’ and ‘‘11. Federal Savings and Loan Insurance Corporation;’’.
1961—Subsec. (b). Pub. L. 87–353 struck out item 4.
Federal Farm Mortgage Corporation and redesignated
former items 5 to 13 as 4 to 12, respectively.
Statutory Notes and Related Subsidiaries
APPLICABILITY TO NATIONAL HOUSING AGENCY;
TRANSFER OF FUNDS; REPORT TO CONGRESS
Act May 3, 1945, ch. 106, title I, § 101, 59 Stat. 122, provided in part: ‘‘Section 7 of the First Deficiency Appropriation Act, 1936 [this section], shall continue to apply
to administrative expenses of and for the constituent

§ 712a

units of the National Housing Agency mentioned in
said section 7 [this section] and shall also apply to such
expenses of said National Housing Agency in connection with the functions and purposes of said constituent units, and none of the funds made available by
this Act [act May 3, 1945, ch. 106, title I, § 101, 59 Stat.
106] for such administrative expenses shall be obligated
or expended unless and until an appropriate appropriation account shall have been established therefor pursuant to an appropriation warrant or a covering warrant, and all such expenditures shall be accounted for
and audited in accordance with the Budget and Accounting Act, as amended [see chapters 11 and 35 of
Title 31, Money and Finance]: Provided further, That the
Administrator may, with the approval of the President
of the United States, transfer to this authorization or
to an authorization of a constituent unit from funds
available for administrative expenses of the constituent units or the Office of the Administrator such
additional sums as represent a consolidation in the Office of the Administrator or in a constituent unit of
any of the administrative functions of the National
Housing Agency; but no such transfer of funds shall be
made unless the consolidation will result in a reduction
in manpower and a savings in administrative expenses,
which savings shall not be used for administrative expenses but instead shall be returned to or remain in the
funds from which administrative expenses are drawn
under this authorization: Provided further, That a report of such transfers and the savings effected thereby
shall be submitted to Congress in the annual budget.’’
Similar provisions were contained in acts June 26,
1943, ch. 145, title I, § 101, 57 Stat. 184; June 27, 1944, ch.
286, title I, § 101, 58 Stat. 375.
Executive Documents
TRANSFERS OF FUNCTIONS AND CHANGES IN NAMES
Federal Housing Administration consolidated into
National Housing Agency during World War II by Ex.
Ord. No. 9070, Feb. 24, 1942. Federal Housing Administration subsequently consolidated into Housing and
Home Finance Agency by Reorg. Plan No. 3 of 1947, eff.
July 27, 1947, 12 F.R. 4981, 61 Stat. 954. Functions, powers, and duties of the Federal Housing Administration
thereafter transferred to Secretary of Housing and
Urban Development. See section 3534(a) of Title 42, The
Public Health and Welfare.
Federal Surplus Commodities Corporation, which was
included in Surplus Marketing Administration by
Reorg. Plan No. III of 1940, § 5, eff. June 30, 1940, 5 F.R.
2108, 54 Stat. 1232, consolidated into Agricultural Marketing Administration by Ex. Ord. No. 9069, Feb. 23,
1942. Agricultural Marketing Administration consolidated into Food Distribution Administration of Department of Agriculture by Ex. Ord. No. 9280, Dec. 5, 1942.
Food Distribution Administration consolidated into
War Food Administration in Department of Agriculture
by Ex. Ord. No. 9322, Mar. 26, 1943, 8 F.R. 3807, as amended by Ex. Ord. No. 9334, Apr. 19, 1943, 8 F.R. 5423. War
Food Administration terminated and functions transferred to Secretary of Agriculture by Ex. Ord. No. 9577,
June 29, 1945, 10 F.R. 8087. Functions of Surplus Marketing Administration transferred to Secretary of Agriculture by Reorg. Plan No. 3 of 1946, § 501, eff. July 16,
1946, 11 F.R. 7875, 60 Stat. 1097.
Export-Import Bank of Washington was set out as
one of several agencies for which Federal Loan Administrator should supervise administration and be responsible for coordination of functions and activities by
Reorg. Plan No. I of 1939, § 402, eff. July 1, 1939, 4 F.R.
2730, 53 Stat. 1429, set out in the Appendix to Title 5,
Government Organization and Employees. Bank terminated by act July 31, 1945, ch. 341, § 10, 59 Stat. 529, and
a new Export-Import Bank of Washington was created
by such act, which is set out as chapter 6A (§ 635 et seq.)
of Title 12, Banks and Banking. ‘‘Export-Import Bank
of Washington’’ changed to ‘‘Export-Import Bank of the
United States’’ to conform to such change in name in

§ 713

TITLE 15—COMMERCE AND TRADE

Act July 31, 1945, provided for in section 1(a) of Pub. L.
90–267, Mar. 13, 1968, 82 Stat. 47.
Second Export-Import Bank of Washington, D.C. was
established under Ex. Ord. No. 6638, Mar. 9, 1934. Its
commitments were transferred to Export-Import Bank
of Washington (see above) and it was abolished by Ex.
Ord. No. 7365, May 7, 1936, 1 F.R. 372.
Federal Loan Agency’s and Federal Loan Administrator’s functions and duties relating to Reconstruction
Finance Corporation, Reconstruction Finance Mortgage Company, Electric Home and Farm Authority and
Export-Import Bank of Washington, and other agencies, transferred to Department of Commerce, during
World War II, see Ex. Ord. No. 9071, Feb. 24, 1942, 7 F.R.
1531. By act Feb. 24, 1945, ch. 4, 59 Stat. 5, former sections 1801 to 1805 of Title 12, Federal Loan Agency was
reconstituted an independent establishment of Federal
Government, and was abolished and its property and
functions transferred to Reconstruction Finance Corporation by act June 30, 1947, ch. 166, title II, § 204, 61
Stat. 208. Section 6(a) of 1957 Reorg. Plan No. 1, eff.
June 30, 1957, 22 F.R. 4633, 71 Stat. 647, set out as a note
under section 601 of this title, abolished Reconstruction
Finance Corporation.
Electric Home and Farm Authority was set out as
one of several agencies for which Federal Loan Administrator should supervise administration and be responsible for coordination of functions and activities, by
Reorg. Plan No. I of 1939, § 402, eff. July 1, 1939, 4 F.R.
2730, 53 Stat. 1429, set out in the Appendix to Title 5,
Government Organization and Employees.
Electric Home and Farm Authority, Inc., was authorized by Ex. Ord. No. 6514, Dec. 19, 1933. Existence continued until February 1, 1937, by act Mar. 31, 1936, ch.
163, § 1, 49 Stat. 1186; extended to ‘‘close of business on
June 30, 1939’’ by act Jan. 26, 1937, ch. 6, § 2, 50 Stat. 5;
to ‘‘June 30, 1941’’ by act Mar. 4, 1939, ch. 4, 53 Stat. 510
and to Jan. 22, 1947, by act June 10, 1941, ch. 190, § 2, 55
Stat. 248. Said Authority dissolved on Oct. 13, 1942, by
Ex. Ord. No. 9256, Oct. 13, 1942, 7 F.R. 8334, and for purposes of liquidation and payment of liabilities all assets, funds, records, contracts, personnel, and property
were transferred to former Reconstruction Finance
Corporation.
Commodity Credit Corporation, Federal Farm Mortgage Corporation, and Farm Credit Administration,
and their functions and activities, together with their
respective personnel, records, and property transferred
to Department of Agriculture by Reorg. Plan No. I of
1939, § 401, eff. July 1, 1939, 4 F.R. 2730, 53 Stat. 1429, set
out in the Appendix to Title 5, Government Organization and Employees. Administration of program of
Commodity Credit Corporation and functions of Federal Surplus Commodities Corporation transferred to
Secretary of Agriculture by Reorg. Plan No. 3 of 1946,
§ 501, eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100. See
also notes under section 713 of this title.
Federal Emergency Administration of Public Works,
created by act June 16, 1933, ch. 90, title II, § 201, 48
Stat. 200, transferred to Federal Works Agency to be
administered as Public Works Administration by
Reorg. Plan No. I of 1939, §§ 301 and 305, eff. July 1, 1939,
4 F.R. 2729, 2730, 53 Stat. 1426, 1428. Federal Emergency
Administration of Public Works further continued to
June 30, 1940, by Res. of June 21, 1938, ch. 554, title II,
§ 202, 52 Stat. 817. The act of June 16, 1933, ch. 90, title
II, terminated June 30, 1943, by provisions of act June
27, 1942, ch. 450, § 1, 56 Stat. 410. Ex. Ord. No. 9357, June
30, 1943, 8 F.R. 9041, transferred functions of Public
Works Administration to office of Federal Works Administrator.
For changes affecting other agencies enumerated in
subsection (b) of this section, see Reorg. Plan No. I of
1939, §§ 301, 305, 401, 402, eff. July 1, 1939, 4 F.R. 2729, 2730,
53 Stat. 1426, 1428, 1429, and Reorg. Plan No. III of 1940,
§ 5, eff. June 30, 1940, 5 F.R. 2108, 54 Stat. 1232. Reorganization Plans I and III are set out in the Appendix to
Title 5, Government Organization and Employees.

Page 1124

EXCEPTIONS FROM TRANSFER OF FUNCTIONS
Functions 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 the supervision of the Administration excepted from functions of
officers, agencies and employees transferred to Secretary of Agriculture by Reorg. Plan No. 2 of 1953, § 1,
eff. June 4, 1953, 18 F.R. 3219, 67 Stat. 633, set out in the
Appendix to Title 5, Government Organization and Employees.

§ 713. Omitted
Editorial Notes
CODIFICATION
Section, acts Jan. 31, 1935, ch. 2, § 7, 49 Stat. 4; Jan. 26,
1937, ch. 6, § 2(a), 50 Stat. 5; Mar. 4, 1939, ch. 5, § 1(a), 53
Stat. 510; Dec. 23, 1943, ch. 383, 57 Stat. 643, was omitted
as terminated by its own terms on June 30, 1948. It related to the Commodity Credit Corporation, which was
recreated as a Federal corporation by section 714 of this
title.
Subsec. (a), continuing the Commodity Credit Corporation, a Delaware corporation, until the close of
business on June 30, 1948, 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), (l), and 714f of this title.
Initial 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 section 714b(k) of
this title.
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 [31 U.S.C. 9101(3),
9105 and 9106].
Statutory Notes and Related Subsidiaries
REPEALS
Act July 1, 1941, ch. 270, § 1, 55 Stat. 498, formerly classified to this section, was repealed by Pub. L. 89–554,
§ 8(a), Sept. 6, 1966, 80 Stat. 651.
Acts July 16, 1943, ch. 241, § 1, 57 Stat. 556; Feb. 28,
1944, ch. 71, § 1, 58 Stat. 105; Apr. 12, 1945, ch. 54, § 5, 59
Stat. 51; June 30, 1947, ch. 164, 61 Stat. 201, formerly
classified to this section, were repealed by Pub. L.
89–554, § 8(a), Sept. 6, 1966, 80 Stat. 652, 654.
DISSOLUTION OF CORPORATION
Secretary of Agriculture authorized to dissolve the
Delaware corporation under authority of section 714o of
this title.
TRANSFER OF ASSETS OF CORPORATION
Assets, funds, liabilities, etc., of Delaware corporation transferred to newly created Commodity Credit
Corporation under authority of section 714n of this
title.
SUBSIDY OPERATIONS
Act July 25, 1946, ch. 671, § 6, 60 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 Cor-

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§ 713a–4

TITLE 15—COMMERCE AND TRADE

poration and the former Reconstruction Finance Corporation for the fiscal year ending June 30, 1947, and
placed limitations on certain subsidy payments made
during such fiscal year June 30, 1947.
INCREASE IN CERTAIN SUBSIDY PAYMENTS
Act July 31, 1945, ch. 332, 59 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, § 15, 60 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 APRIL 1, 1947
Act July 25, 1946, ch. 671, § 16, 60 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 April 1, 1947.

§ 713a. Repealed. June 30, 1947, ch. 166, title II,
§ 206(p), 61 Stat. 208
Section, act Apr. 10, 1936, ch. 168, 49 Stat. 1191, authorized increase of capital stock of the Corporation by
$97,000,000.

§§ 713a–1, 713a–2. Repealed. Pub. L. 87–155, § 1,
Aug. 17, 1961, 75 Stat. 391
Section 713a–1, acts Mar. 8, 1938, ch. 44, § 1, 52 Stat.
107; July 1, 1941, ch. 270, § 2, 55 Stat. 498; Apr. 12, 1945,
ch. 54, § 4, 59 Stat. 51; Mar. 20, 1954, ch. 102, § 1(b), 68
Stat. 30, related to annual appraisal of assets of Commodity Credit Corporation, and to restoration of any
capital impairment. See section 713a–11 of this title for
provisions authorizing appropriations to reimburse the
Commodity Credit Corporation for its net realized
yearly losses.
Section 713a–2, act Mar. 8, 1938, ch. 44, § 2, 52 Stat. 107,
related to deposit in Treasury of any capital excess of
Commodity Credit Corporation. See section 713a–12 of
this title for provisions requiring any net realized gain
for the year by the Commodity Credit Corporation to
be deposited in the Treasury.

§ 713a–3. Omitted
Editorial Notes
CODIFICATION
Section, act Mar. 8, 1938, ch. 44, § 3, 52 Stat. 107, referred to stock of the Delaware corporation.

§ 713a–4. Obligations of Commodity Credit Corporation; issuance; sale; purchase; redemption; etc.
With the approval of the Secretary of the
Treasury, the Commodity Credit Corporation is
authorized to issue and have outstanding at any
one time, bonds, notes, debentures, and other
similar obligations in an aggregate amount not
exceeding $30,000,000,000. Such obligations shall
be in such forms and denominations, shall have
such maturities, shall bear such rates of interest, shall be subject to such terms and conditions, and shall be issued in such manner and
sold at such prices as may be prescribed by the
Commodity Credit Corporation, with the approval of the Secretary of the Treasury. Such

obligations shall be fully and unconditionally
guaranteed both as to interest and principal by
the United States, and such guaranty shall be
expressed on the face thereof, and such obligations shall be lawful investments and may be accepted as security for all fiduciary, trust, and
public funds the investment or deposit of which
shall be under the authority or control of the
United States or any officer or officers thereof.
In the event that the Commodity Credit Corporation shall be unable to pay upon demand,
when due, the principal of, or interest on, such
obligations, the Secretary of the Treasury shall
pay to the holder the amount thereof which is
authorized to be appropriated, out of any money
in the Treasury not otherwise appropriated, and
thereupon to the extent of the amount so paid
the Secretary of the Treasury shall succeed to
all the rights of the holders of such obligations.
The Secretary of the Treasury, in his discretion,
is authorized to purchase any obligations of the
Commodity Credit Corporation issued hereunder, and for such purpose the Secretary of the
Treasury is authorized to use as a public-debt
transaction the proceeds from the sale of any securities hereafter issued under chapter 31 of
title 31 and the purposes for which securities
may be issued under such chapter are extended
to include any purchases of the Commodity
Credit Corporation’s obligations hereunder. The
Secretary of the Treasury may at any time sell
any of the obligations of the Commodity Credit
Corporation acquired by him under this section.
All redemptions, purchases, and sales by the
Secretary of the Treasury of the obligations of
the Commodity Credit Corporation shall be
treated as public-debt transactions of the United
States. No such obligations shall be issued in excess of the assets of the Commodity Credit Corporation, including the assets to be obtained
from the proceeds of such obligations, but a failure to comply with this provision shall not invalidate the obligations or the guaranty of the
same: Provided, That this sentence shall not
limit the authority of the Corporation to issue
obligations for the purpose of carrying out its
annual budget programs submitted to and approved by the Congress pursuant to chapter 91 of
title 31. The Commodity Credit Corporation
shall have power to purchase such obligations in
the open market at any time and at any price.
(Mar. 8, 1938, ch. 44, § 4, 52 Stat. 108; Mar. 4, 1939,
ch. 5, § 1(d), 53 Stat. 511; Aug. 9, 1940, ch. 649, 54
Stat. 782; July 1, 1941, ch. 270, § 3, 55 Stat. 498;
July 16, 1943, ch. 241, § 2, 57 Stat. 566; Apr. 12,
1945, ch. 54, § 1, 59 Stat. 50; Oct. 31, 1949, ch. 792,
title IV, § 410, 63 Stat. 1057; June 28, 1950, ch. 381,
§ 1, 64 Stat. 261; Mar. 20, 1954, ch. 102, § 1(a), 68
Stat. 30; Aug. 31, 1954, ch. 1172, § 1, 68 Stat. 1047;
Aug. 11, 1955, ch. 782, § 1, 69 Stat. 634; Aug. 1, 1956,
ch. 815, § 1(b), 70 Stat. 783; Pub. L. 95–279, title
III, § 301(b), May 15, 1978, 92 Stat. 242; Pub. L.
100–202, § 101(k) [title I, § 101], Dec. 22, 1987, 101
Stat. 1329–322, 1329–336.)
Editorial Notes
CODIFICATION
‘‘Chapter 31 of title 31’’ and ‘‘such chapter’’ substituted in text for ‘‘the Second Liberty Bond Act, as
amended’’ and ‘‘such Act, as amended,’’, and ‘‘chapter

§ 713a–5

TITLE 15—COMMERCE AND TRADE

91 of title 31’’ substituted for ‘‘the Government Corporation Control Act (31 U.S.C., 1946 edition, sec. 841)’’
on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96
Stat. 1067, the first section of which enacted Title 31,
Money and Finance.
AMENDMENTS
1987—Pub. L. 100–202 substituted ‘‘$30,000,000,000’’ for
‘‘$25,000,000,000’’.
1978—Pub. L. 95–279 substituted ‘‘$25,000,000,000’’ for
‘‘$14,500,000,000’’.
1956—Act Aug. 1, 1956, substituted ‘‘$14,500,000,000’’ for
‘‘$12,000,000,000’’.
1955—Act Aug. 11, 1955, substituted ‘‘$12,000,000,000 for
‘‘$10,000,000,000’’.
1954—Act Aug. 31, 1954, substituted ‘‘$10,000,000,000’’
for ‘‘$8,500,000,000’’.
Act Mar. 20, 1954, substituted ‘‘$8,500,000,000’’ for
‘‘$6,750,000,000’’.
1950—Act June 28, 1950, substituted ‘‘$6,750,000,000’’ for
‘‘$4,750,000,000’’.
1949—Act Oct. 31, 1949, inserted proviso in next to last
sentence.
1945—Act Apr. 12, 1945, substituted ‘‘$4,750,000,000’’ for
‘‘$3,000,000,000’’.
1943—Act July 16, 1943, substituted ‘‘$3,000,000,000’’ for
‘‘$2,650,000,000’’.
1941—Act July 1, 1941, substituted ‘‘$2,650,000,000’’ for
‘‘$1,400,000,000’’.
1940—Act Aug. 9, 1940, substituted ‘‘$1,400,000,000 for
‘‘$900,000,000’’.
1939—Act Mar. 4, 1939, substituted $900,000,000’’ for
‘‘$500,000,000’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1978 AMENDMENT
Pub. L. 95–279, title III, § 301(d), May 15, 1978, 92 Stat.
242, provided that: ‘‘The provisions of this section
[amending this section and section 714b of this title and
enacting provision set out as a note under section 714b
of this title] shall become effective October 1, 1978.’’
DISCHARGE OF INDEBTEDNESS
Act May 26, 1947, ch. 82, title I, § 101, 61 Stat. 109, provided in part that on the date of enactment of that Act
[May 26, 1947] the Secretary of the Treasury was authorized and directed to discharge $641,832,080.64 of the
indebtedness of the Commodity Credit Corporation to
the Secretary of the Treasury by canceling notes in
such amount issued by the Corporation to the Secretary of the Treasury pursuant to section 4 of the Act
of March 8, 1938, as amended [this section].
Executive Documents
EXCEPTIONS FROM TRANSFER OF FUNCTIONS
For 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 section 712a of this title.

§ 713a–5. Exemption of Commodity Credit Corporation and its obligations from taxation
Bonds, notes, debentures, and other similar
obligations issued by the Commodity Credit Corporation under the provisions of sections 713a–1
to 713a–5 of this title shall be deemed and held
to be instrumentalities of the Government of
the United States, and as such they and the income derived therefrom shall be exempt from
Federal, State, municipal, and local taxation
(except surtaxes, estate, inheritance, and gift
taxes). The Commodity Credit Corporation, including its franchise, its capital, reserves, and

Page 1126

surplus, and its income shall be exempt from all
taxation imposed by the United States, by any
Territory, dependency, or possession thereof, or
by any State, county, municipality, or local taxing authority; except that any real property of
the Commodity Credit Corporation shall be subject to State, Territorial, county, municipal, or
local taxation to the same extent according to
its value as other real property is taxed.
(Mar. 8, 1938, ch. 44, § 5, 52 Stat. 108.)
Editorial Notes
REFERENCES IN TEXT
Sections 713a–1 to 713a–5, referred to in text, was in
the original ‘‘this Act’’. Section 1 and 2 of that act, set
out as sections 713a–1 and 713a–2 of this title, have been
repealed and section 3 of that act, set out as section
713a–3 of this title, has been omitted.
Executive Documents
EXCEPTIONS FROM TRANSFER OF FUNCTIONS
For 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 section 712a of this title.

§ 713a–6. Sale of surplus agricultural commodities to foreign governments
Notwithstanding any other provision of law,
the Commodity Credit Corporation, with the approval of the President, is authorized to sell surplus agricultural commodities, acquired by such
Corporation through its loan operations, to foreign governments on the condition that, except
for rotation to prevent deterioration, such commodities shall be held in reserve by such governments for a period of not less than five years
from the date of acquisition, and shall not be
disposed of unless a war or war emergency results in a serious interruption of normal supplies of such commodities: Provided, That under
this section no concession below the prevailing
world market price for the unrestricted use of
such commodities, as determined by the Secretary of Agriculture, shall be granted, in consideration of the obligation assumed by such
governments to hold such commodities in reserve as required hereinbefore, in excess of a
maximum amount equal to the average carrying
charges, as estimated by the Secretary of Agriculture, that would be incurred if such commodities should be held for an additional eighteen
months’ period by the Commodity Credit Corporation. In determining specific cotton to be
sold under this section, the determination shall
be made by sampling and selection at the place
where the cotton is stored on the date of signing
any sales agreement or contract under this section, and no cotton shall be sold under any such
sales agreement or contract which, after such
date, is transported to any other place and there
sampled and selected: Provided further, That in
case of a sale, settlement must be made within
sixty days after delivery and not more than five
hundred thousand bales of cotton shall be sold
upon the terms and conditions provided in this
section.
(Aug. 11, 1939, ch. 701, 53 Stat. 1418.)

Page 1127

§ 713a–8

TITLE 15—COMMERCE AND TRADE
Executive Documents

EXCEPTIONS FROM TRANSFER OF FUNCTIONS
For 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 section 712a of this title.

§ 713a–7. Exchange of surplus agricultural commodities for reserve stocks of strategic materials
Notwithstanding any other provision of law,
whenever the President, by and with the advice
and consent of the Senate, has concluded a treaty involving the exchange of surplus agricultural commodities produced in the United
States which are held under loans made or made
available by the Commodity Credit Corporation
for stocks of strategic and critical materials
produced abroad, the Commodity Credit Corporation is authorized, upon terms and conditions prescribed by the Secretary of Agriculture,
to accept such strategic and critical materials
in exchange for such surplus agricultural commodities; and for the purpose of such exchange
the Secretary of the Army, the Secretary of the
Navy, and the Secretary of the Interior acting
jointly through the agency of the Munitions
Board shall determine which materials are strategic and critical and the quantity and quality
of such materials. In order to carry out the provisions of this section, the Commodity Credit
Corporation is authorized, upon terms and conditions prescribed by the Secretary of Agriculture, to procure, convey, transport, handle,
store, maintain, or rotate such surplus agricultural commodities, and such reserve stocks of
strategic and critical materials, as may be necessary to accomplish the purposes of this section.
The Commodity Credit Corporation is authorized and directed to transfer to warehouses in or
near cotton manufacturing centers in New England not to exceed three hundred thousand bales
of cotton, to which it now has title or may hereafter acquire title, having regard for the grades
and staples customarily required by manufacturers in that area: Provided, That all necessary
costs in connection with such transfer will not
result in additional net cost to the Corporation.
In determining specific cotton to be exchanged
under this section, the determination shall be
made by sampling and selection at the place
where the cotton is stored on the date of ratification of a treaty providing for such exchange,
and no cotton shall be exchanged under such
treaty which, after such date, is transported to
another place and there sampled and selected.
Such reserve stocks of strategic and critical materials shall be stored on military or naval reservations or in other locations approved by the
Secretary of the Army and the Secretary of the
Navy. The Commodity Credit Corporation is authorized to transfer such reserve stocks of strategic and critical materials, upon such terms
and conditions as the Secretary of Agriculture
shall approve, to any other governmental agency. Such reserve stocks or strategic and critical
materials shall be made available or disposed of
by the Commodity Credit Corporation or other

governmental agency only upon order of the
President in accordance with the terms of the
applicable treaty; when necessary to prevent deterioration, the Commodity Credit Corporation
or other governmental agency is authorized to
replace those quantities of the reserve stocks of
such strategic and critical materials subject to
deterioration with equivalent quantities of the
same materials. The funds now or hereafter
made available to the Commodity Credit Corporation are made available to carry out the
purposes of this section. There is authorized to
be appropriated such additional sums as may be
required to carry out the provisions of this section. All funds for carrying out the provisions of
this section shall be available for allotment to
bureaus and offices of the Department of Agriculture, and for transfer to such other agencies
of the Federal Government as the Secretary of
Agriculture may request to cooperate or assist
in carrying out the provisions of this section.
(Aug. 11, 1939, ch. 690, 53 Stat. 1407; July 26, 1947,
ch. 343, title II, § 205(a), 61 Stat. 501.)
Editorial Notes
CODIFICATION
The Department of War was designated the Department of the Army and the title of the Secretary of War
was changed to Secretary of the Army by section 205(a)
of act July 26, 1947, ch. 343, title II, 61 Stat. 501. Section
205(a) of act July 26, 1947, was repealed by section 53 of
act Aug. 10, 1956, ch. 1041, 70A Stat. 641. Section 1 of act
Aug. 10, 1956, enacted ‘‘Title 10, Armed Forces’’ which
in sections 3011 to 3013 continued the military Department of the Army under the administrative supervision
of a Secretary of the Army.
Statutory Notes and Related Subsidiaries
TRANSFER OF FUNCTIONS
Army and Navy Munitions Board ceased to exist
when Chairman of Board of Munitions took office and
records and personnel of Army and Navy Munitions
Board were transferred to Munitions Board by act July
26, 1947, ch. 343, title II, § 213, 61 Stat. 505.
Executive Documents
TRANSFER OF FUNCTIONS
Munitions Board abolished by section 2 of Reorg.
Plan No. 6 of 1953, 18 F.R. 3743, 67 Stat. 638, set out in
the Appendix to Title 5, Government Organization and
Employees, and functions of Munitions Board transferred to Secretary of Defense by section 1 of Reorg.
Plan No. 6 of 1953.
EXCEPTIONS FROM TRANSFER OF FUNCTIONS
For 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 section 712a of this title.

§ 713a–8. Omitted
Editorial Notes
CODIFICATION
Section, acts July 1, 1941, ch. 270, § 4, 55 Stat. 498; Oct.
2, 1942, ch. 578, § 9(a), 56 Stat. 768; Feb. 28, 1944, ch. 71,
§ 2, 58 Stat. 105; Ex. Ord. No. 9577, June 30, 1945, 10 F.R.
8087, which related to operations to cover the expansion
of production of nonbasic agricultural commodities and

§ 713a–9

TITLE 15—COMMERCE AND TRADE

to fulfillment of commitments to producers during the
existing emergency, was omitted in light of the termination of hostilities declared by Proc. No. 2714 of Dec.
31, 1946 and Joint Res. July 25, 1947, ch. 327, § 3, 61 Stat.
451, providing that July 25, 1947, be deemed the date of
termination of any state of war or national emergency
theretofore declared or proclaimed.

§ 713a–9. Reimbursement of corporation from
funds of Government agencies for services,
losses, operating costs, or commodities purchased
Full reimbursement shall be made to the Commodity Credit Corporation for services performed, losses sustained, operating costs incurred, or commodities purchased or delivered
to or on behalf of the Lend-Lease Administration, the Army or Navy, the Board of Economic
Warfare, the Reconstruction Finance Corporation, or any other Government agency, from the
appropriate funds of these agencies.
(July 16, 1943, ch. 241, § 4, 57 Stat. 566.)
Executive Documents
TRANSFER OF FUNCTIONS
Lend-Lease Administration and Board of Economic
Warfare, referred to in text, consolidated with Foreign
Economic Administration by Ex. Ord. No. 9380, Sept. 25,
1943. Foreign Economic Administration subsequently
terminated and functions of Lend-Lease Administration and Board of Economic Warfare transferred to Department of State pursuant to Ex. Ord. No. 9630, Sept.
27, 1945, 10 F.R. 12245, as amended by Ex. Ord. No. 9730,
May 27, 1946, 11 F.R. 5777.
EXCEPTIONS FROM TRANSFER OF FUNCTIONS
For 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 section 712a of this title.
ABOLITION OF RECONSTRUCTION FINANCE CORPORATION
Section 6(a) of Reorg. Plan No. 1 of 1957, eff. June 30,
1957, 22 F.R. 4633, 71 Stat. 647, set out as a note under
section 601 of this title, abolished Reconstruction Finance Corporation.

§ 713a–10. Omitted
Editorial Notes
CODIFICATION
Section was a composite of provisions contained in
the Agriculture, Rural Development, and Related Agencies Appropriation Act for Fiscal Year 1983 (Pub. L.
97–370, title I, title IV, title VI, § 625, Dec. 18, 1982, 96
Stat. 1797, 1798, 1808, 1812, as amended Pub. L. 99–386,
title II, § 202, Aug. 22, 1986, 100 Stat. 823, and related to
the authority of the Commodity Corporation to make
expenditures and to make contracts and commitments
without regard to fiscal year limitations, with exceptions for the amount of funds to be transferred to support the General Sales Manager and to carry out the
Export Credit Sales direct loan program. For provisions
applicable to subsequent fiscal years, see the appropriate Agriculture, Rural Development, and Related
Agencies Appropriation Act. Similar provisions were
contained in the following prior appropriations acts:
Dec. 23, 1981, Pub. L. 97–103, title I, title IV, 95 Stat.
1476, 1477, 1485.
Aug. 13, 1981, Pub. L. 97–35, title I, § 152, 95 Stat. 370.
Dec. 15, 1980, Pub. L. 96–528, title I, 94 Stat. 3103, 3104.
Nov. 9, 1979, Pub. L. 96–108, title I, 93 Stat. 829.
Oct. 11, 1978, Pub. L. 95–448, title I, 92 Stat. 1081, 1082.

Page 1128

Aug. 12, 1977, Pub. L. 95–97, title I, 91 Stat. 817, 818.
July 12, 1976, Pub. L. 94–351, title I, 90 Stat. 858.
Oct. 21, 1975, Pub. L. 94–122, title I, 89 Stat. 652, 653.
Dec. 31, 1974, Pub. L. 93–563, title I, 88 Stat. 1830.
Oct. 24, 1973, Pub. L. 93–135, title I, 87 Stat. 477.
Aug. 22, 1972, Pub. L. 92–399, title I, 86 Stat. 600.
Aug. 10, 1971, Pub. L. 92–73, title I, 85 Stat. 190.
Dec. 31, 1970, Pub. L. 91–566, title III, 84 Stat. 1494,
1495.
Nov. 26, 1969, Pub. L. 91–127, title III, 83 Stat. 259.
Aug. 8, 1968, Pub. L. 90–463, title III, 82 Stat. 652.
Oct. 14, 1967, Pub. L. 90–113, title III, 81 Stat. 332.
Sept. 7, 1966, Pub. L. 89–556, title III, 80 Stat. 702.
Nov. 2, 1965, Pub. L. 89–316, title III, 79 Stat. 1177, 1178.
Sept. 2, 1964, Pub. L. 88–573, title III, 78 Stat. 874.
Dec. 30, 1963, Pub. L. 88–250, title III, 77 Stat. 831.
Oct. 24, 1962, Pub. L. 87–879, title III, 76 Stat. 1213.
July 26, 1961, Pub. L. 87–112, title III, 75 Stat. 238, 239.
June 29, 1960, Pub. L. 86–532, title II, 74 Stat. 242.
April 13, 1960, Pub. L. 86–424, 74 Stat. 42.
July 8, 1959, Pub. L. 86–80, title II, 73 Stat. 177.
May 20, 1959, Pub. L. 86–30, title I, 73 Stat. 36.
June 13, 1958, Pub. L. 85–459, title II, 72 Stat. 198.
Aug. 2, 1957, Pub. L. 85–118, title II, 71 Stat. 338.
June 4, 1956, ch. 355, title II, 70 Stat. 238.
May 19, 1956, ch. 313, Ch. I, 70 Stat. 162.
May 23, 1955, ch. 43, title II, 69 Stat. 60, 61.
Jan. 25, 1955, ch. 3, Ch. II, 69 Stat. 5.
June 29, 1954, ch. 409, title II, 68 Stat. 317.
July 28, 1953, ch. 251, title II, 67 Stat. 222.
July 5, 1952, ch. 574, title II, 66 Stat. 353.
Aug. 31, 1951, ch. 374, title III, 65 Stat. 244.
Sept. 6, 1950, ch. 896, Ch. VI, title II, 64 Stat. 677.
June 29, 1949, ch. 280, title II, 63 Stat. 346.
July 19, 1948, ch. 543, title II, § 202, 62 Stat. 531.
July 30, 1947, ch. 356, title II, § 202, 61 Stat. 550.

§ 713a–11. Annual appropriations to reimburse
Commodity Credit Corporation for net realized loss
There is authorized to be appropriated annually for each fiscal year by means of a current,
indefinite appropriation, out of any money in
the Treasury not otherwise appropriated, an
amount sufficient to reimburse Commodity
Credit Corporation for its net realized loss incurred during such fiscal year, as reflected in its
accounts and shown in its report of its financial
condition as of the close of such fiscal year. Reimbursement of net realized loss shall be with
appropriated funds, as provided herein, rather
than through the cancellation of notes.
(Pub. L. 87–155, § 2, Aug. 17, 1961, 75 Stat. 391;
Pub. L. 100–203, title I, § 1506(a), Dec. 22, 1987, 101
Stat. 1330–28.)
Editorial Notes
AMENDMENTS
1987—Pub. L. 100–203 substituted ‘‘by means of a current, indefinite appropriation’’ for ‘‘, commencing with
the fiscal year ending June 30, 1961’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1987 AMENDMENT
Pub. L. 100–203, title I, § 1506(c), Dec. 22, 1987, 101 Stat.
1330–29, provided that: ‘‘This section and the amendment made by this section [amending this section and
enacting provisions set out as a note below] shall apply
beginning with fiscal year 1988.’’
OPERATING EXPENSES
Pub. L. 100–203, title I, § 1506(b), Dec. 22, 1987, 101 Stat.
1330–29, provided that: ‘‘No funds may be appropriated

Page 1129

§ 713c

TITLE 15—COMMERCE AND TRADE

for operating expenses of the Commodity Credit Corporation except as authorized under section 2 of Public
Law 87–155 [15 U.S.C. 713a–11] to reimburse the Corporation for net realized losses.’’

§ 713a–11a. Interest prohibited when reimbursing
Corporation for net realized losses
After September 30, 1964, the portion of borrowings from Treasury equal to the unreimbursed realized losses recorded on the books of
the Commodity Credit Corporation after September 30 of the fiscal year in which such losses
are realized, shall not bear interest and interest
shall not be accrued or paid thereon.
(Pub. L. 89–316, title III, § 301, Nov. 2, 1965, 79
Stat. 1178; Pub. L. 94–273, § 2(6), Apr. 21, 1976, 90
Stat. 375.)
Editorial Notes
AMENDMENTS
1976—Pub. L. 94–273 substituted ‘‘September’’ for
‘‘June’’.

§ 713a–12. Deposit of net realized gain of Commodity Credit Corporation in Treasury
In the event the accounts of the Commodity
Credit Corporation reflect a net realized gain for
any such fiscal year, the amount of such net realized gain shall be deposited in the Treasury by
the Commodity Credit Corporation and shall be
credited to miscellaneous receipts.
(Pub. L. 87–155, § 3, Aug. 17, 1961, 75 Stat. 391.)
§ 713a–13. Policies and procedures for minimum
acquisition of stocks by Commodity Credit
Corporation, encouragement of marketing
through private trade channels and procurement of maximum returns in marketplace for
producers and Corporation
Congress hereby reconfirms its long-standing
policy of favoring the use by governmental
agencies of the usual and customary channels,
facilities, and arrangements of trade and commerce, and directs the Secretary of Agriculture
and the Commodity Credit Corporation to the
maximum extent practicable to adopt policies
and procedures designed to minimize the acquisition of stocks by the Commodity Credit Corporation, to encourage orderly marketing of
farm commodities through private competitive
trade channels, both cooperative and noncooperative, and to obtain maximum returns in
the marketplace for producers and for the Commodity Credit Corporation.
(Pub. L. 87–703, title IV, § 402, Sept. 27, 1962, 76
Stat. 632.)
§ 713a–14. Repealed. Pub. L. 113–79, title I,
§ 1423(a), Feb. 7, 2014, 128 Stat. 695
Section, Pub. L. 99–198, title I, § 153, Dec. 23, 1985, 99
Stat. 1377; Pub. L. 100–418, title IV, § 4308, Aug. 23, 1988,
102 Stat. 1399; Pub. L. 100–435, title I, § 106, Sept. 19, 1988,
102 Stat. 1651; Pub. L. 101–624, title I, § 114, Nov. 28, 1990,
104 Stat. 3380; Pub. L. 103–465, title IV, § 411(b), Dec. 8,
1994, 108 Stat. 4963; Pub. L. 104–127, title I, § 148, Apr. 4,
1996, 110 Stat. 920; Pub. L. 107–171, title I, § 1503(a), May
13, 2002, 116 Stat. 207; Pub. L. 110–234, title I, § 1503, May
22, 2008, 122 Stat. 992; Pub. L. 110–246, § 4(a), title I, § 1503,
June 18, 2008, 122 Stat. 1664, 1721, related to the dairy
export incentive program.

§ 713b. Repealed. July 31, 1945, ch. 341, § 10, 59
Stat. 529
Section, acts Jan. 31, 1935, ch. 2, § 9, 49 Stat. 4; Jan. 26,
1937, ch. 6, § 2(a), 50 Stat. 5; Mar. 4, 1939, ch. 5, § 1(b), (c),
53 Stat. 510; Mar. 2, 1940, ch. 34, 54 Stat. 38; Sept. 26,
1940, ch. 734, § 3, 54 Stat. 962, related to the Export-Import Bank of Washington, its continuation of existence,
and its powers. See chapter 6A (§ 635 et seq.) of Title 12,
Banks and Banking.
Section was also repealed by act June 30, 1947, ch. 166,
title II, § 206(m), 61 Stat. 208.
Section 10 of act July 31, 1945, which repealed this
section, was repealed by Pub. L. 102–429, title I,
§ 121(c)(1), Oct. 21, 1992, 106 Stat. 2199.
Executive Documents
DISSOLUTION OF SECOND EXPORT-IMPORT BANK OF
WASHINGTON, D.C.
Ex. Ord. No. 7365, May 7, 1936, 1 F.R. 372, dissolved
said Bank on June 30, 1936, and provided that all remaining funds be covered into United States Treasury
as miscellaneous receipts and all records transferred to
Export-Import Bank of Washington.

§ 713c. Federal Surplus Commodities Corporation; continuance of existence; purchase and
distribution of surplus agricultural commodities
In carrying out the provisions of clause (2) of
section 612c of title 7, the Secretary of Agriculture may transfer to the Federal Surplus
Commodities Corporation, which Corporation is
continued, until June 30, 1945, as an agency of
the United States under the direction of the
Secretary of Agriculture, such funds, appropriated by said section, as may be necessary for
the purpose of effectuating clause (2) of said section: Provided, That such transferred funds, together with other funds of the Corporation, may
be used for purchasing, exchanging, processing,
distributing, disposing, transporting, storing,
and handling of agricultural commodities and
products thereof and inspection costs, commissions, and other incidental costs and expenses,
without regard to the provisions of existing law
governing the expenditure of public funds and
for administrative expenses, including rent,
printing and binding, and the employment of
persons and means, in the District of Columbia
and elsewhere, such employment of persons to
be in accordance with the provisions of law applicable to the employment of persons by the
Agricultural Adjustment Administration. In
carrying out clause (2) of said section, the funds
appropriated by said section may be used for the
purchase, without regard to the provisions of existing law governing the expenditure of public
funds, of agricultural commodities and products
thereof, and such commodities, as well as agricultural commodities and products thereof purchased under the preceding paragraph of this
section, may be donated for relief purposes and
for use in nonprofit summer camps for children.
(June 28, 1937, ch. 385, 50 Stat. 323; Feb. 16, 1938,
ch. 30, title II, § 204, 52 Stat. 38; June 27, 1942, ch.
454, 56 Stat. 461; Pub. L. 85–483, § 2, July 2, 1958,
72 Stat. 287.)
Editorial Notes
AMENDMENTS
1958—Pub. L. 85–483 permitted donation of commodities for use in nonprofit summer camps for children.

§ 713c–1

TITLE 15—COMMERCE AND TRADE

1942—Act June 27, 1942, provided for the continuance
of the Corporation from June 30, 1942, to June 30, 1945.
It read as follows: ‘‘The Federal Surplus Commodities
Corporation is hereby continued as an agency of the
United States, under the direction of the Secretary of
Agriculture, until June 30, 1945.’’
1938—Act Feb. 16, 1938, substituted ‘‘until June 30,
1942’’ for ‘‘until June 30, 1939’’.

Page 1130

transferred by the Secretary of Agriculture to the Federal Surplus Commodities Corporation created under
and to carry out the provisions of section 612c of title
7 may also be used by such Corporation’’, etc., and the
reference in the proviso to the Secretary of Agriculture
originally read: ‘‘Federal Surplus Commodities Corporation’’. See Transfer of Functions note below.
Statutory Notes and Related Subsidiaries

Executive Documents
TRANSFER OF FUNCTIONS
For transfer of functions of Federal Surplus Commodities Corporation, see Transfer of Functions note set
out under section 712a of this title.

§ 713c–1. Annual report to Congress by Federal
Surplus Commodities Corporation
The Federal Surplus Commodities Corporation
shall submit to Congress on the first day of each
regular session an annual report setting forth a
statement of the activities, receipts, and expenditures of the Corporation during the previous year.
(Feb. 16, 1938, ch. 30, title II, § 204, 52 Stat. 38.)
Editorial Notes
CODIFICATION
Section was previously classified to section 1293 of
Title 7, Agriculture.
Executive Documents
TRANSFER OF FUNCTIONS
For transfer of functions of Federal Surplus Commodities Corporation, see Transfer of Functions note set
out under section 712a of this title.

§ 713c–2. Purchase and distribution of surplus
fishery products
Any part of the funds not to exceed $1,500,000
per year, created under and to carry out the provisions of section 612c of title 7, may also be
used by the Secretary of Agriculture for the purpose of diverting surplus fishery products (including fish, shellfish, mollusks, and crustacea)
from the normal channels of trade and commerce by acquiring them and providing for their
distribution through Federal, State, and private
relief channels: Provided, That none of the funds
made available to the Secretary of Agriculture
under this section and section 713c–3 of this title
shall be used to purchase any of the commodities designated in this section and section
713c–3 of this title which may have been produced in any foreign country. The provisions of
law relating to the acquisition of materials or
supplies for the United States shall not apply to
the acquisition of commodities under this section and section 713c–3 of this title.
(Aug. 11, 1939, ch. 696, § 1, 53 Stat. 1411; 1940
Reorg. Plan No. III, § 5, eff. June 30, 1940, 5 F.R.
2108, 54 Stat. 1232; 1946 Reorg. Plan No. 3, § 501,
eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100.)
Editorial Notes
CODIFICATION
The first part of this section originally read: ‘‘Any
part of the funds not to exceed $1,500,000 per year,

SIMILAR PROVISIONS
Earlier provisions on this subject were contained in
act Mar. 5, 1937, ch. 29, 50 Stat. 27, and in Joint Res.
Apr. 12, 1937, ch. 73, 50 Stat. 61. The former forbade acquisition of commodities thereunder after 90 days after
its enactment, but permitted distribution of commodities after such period. The latter made funds available
to be used in accordance with the provisions of the
former.
Joint Res. Apr. 12, 1937, ch. 73, 50 Stat. 61, provided as
follows: ‘‘That not to exceed $1,000,000 of the funds
available to the Federal Surplus Commodities Corporation may be used by such Corporation for the purpose
of diverting surplus fish (including shellfish) and the
products thereof from the normal channels of trade and
commerce by the acquisition and distribution thereof
in accordance with the provisions of the Act entitled
‘An Act to authorize the purchase and distribution of
products of the fishing industry’, approved March 5,
1937.’’
Act Mar. 5, 1937, ch. 29, 50 Stat. 27, provided as follows: ‘‘That there is authorized to be appropriated, out
of any money in the Treasury not otherwise appropriated, the sum of $2,000,000 for the purpose of enabling
the Federal Surplus Commodities Corporation to divert
surplus fish (including shellfish) and the products
thereof from the normal channels of trade and commerce by acquiring them and providing for their distribution through Federal, State, and private relief
agencies. No commodities shall be acquired under this
Act after ninety days after the date of its enactment:
Provided, however, That distribution thereof may extend beyond said period. The provisions of law relating
to the acquisition of materials or supplies for the
United States shall not apply to the acquisition of commodities under this Act.’’
Executive Documents
TRANSFER OF FUNCTIONS
Functions of all officers, agencies, and employees of
Department of Agriculture transferred, with certain exceptions, to Secretary of Agriculture by Reorg. Plan
No. 2 of 1953, § 1, eff. June 4, 1953, 18 F.R. 3219, 67 Stat.
633, set out in the Appendix to Title 5, Government Organization and Employees.
For transfer of functions of Federal Surplus Commodities Corporation, see Transfer of Functions note set
out under section 712a of this title.

§ 713c–3. Promotion of the free flow of domestically produced fishery products
(a) Definitions
As used in this section—
(1) The term ‘‘person’’ means—
(A) any individual who is a citizen or national of the United States or a citizen of
the Northern Mariana Islands;
(B) any fishery development foundation or
other private nonprofit corporation located
in Alaska; and
(C) any corporation, partnership, association, or other entity (including, but not limited to, any fishery development foundation
or other private nonprofit corporation not
located in Alaska), nonprofit or otherwise, if

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TITLE 15—COMMERCE AND TRADE

such entity is a citizen of the United States
within the meaning of section 50501 of title
46 and for purposes of applying such section
50501 with respect to this section—
(i) the term ‘‘State’’ as used therein includes any State referred to in paragraph
(3),
(ii) citizens of the United States must
own not less than 75 percent of the interest
in the entity or, in the case of a nonprofit
entity, exercise control in the entity that
is determined by the Secretary to be the
equivalent of such ownership, and
(iii) nationals of the United States and
citizens of the Northern Mariana Islands
shall be treated as citizens of the United
States in meeting the ownership and control requirements referred to in clause (ii).
(2) The term ‘‘Secretary’’ means the Secretary of Commerce.
(3) The term ‘‘State’’ means any State, the
District of Columbia, the Commonwealth of
Puerto Rico, American Samoa, the Virgin Islands of the United States, Guam, the Northern Mariana Islands, and any other Commonwealth, territory, or possession of the United
States.
(4) The term ‘‘United States fishery’’ means
any fishery, including any tuna fishery, that
is, or may be, engaged in by citizens or nationals of the United States or citizens of the
Northern Mariana Islands.
(5) The term ‘‘citizen of the Northern Mariana Islands’’ means—
(A) an individual who qualifies as such
under section 8 of the Schedule on Transitional Matters attached to the Constitution
of the Northern Mariana Islands; or
(B) a corporation, partnership, association,
or other entity organized or existing under
the laws of the Northern Mariana Islands,
not less than 75 percent of the interest in
which is owned by individuals referred to in
subparagraph (A) or citizens or nationals of
the United States, in cases in which
‘‘owned’’ is used in the same sense as in section 50501 of title 46.
(b) Transfer of funds
(1) The Secretary of Agriculture shall transfer
to the Secretary each fiscal year, beginning
with the fiscal year commencing July 1, 1954,
and ending on June 30, 1957, from moneys made
available to carry out the provisions of section
612c of title 7, an amount equal to 30 per centum
of the gross receipts from duties collected under
the customs laws on fishery products (including
fish, shellfish, mollusks, crustacea, aquatic
plants and animals, and any products thereof,
including processed and manufactured products), which shall be maintained in a separate
fund only for—
(A) use by the Secretary—
(i) to provide financial assistance for the
purpose of carrying out fisheries research
and development projects approved under
subsection (c),1
(ii) to implement the national fisheries research and development program provided
for under subsection (d);
1 So

in original. The comma probably should be a semicolon.

§ 713c–3

(iii) to implement the Northwest Atlantic
Ocean Fisheries Reinvestment Program established under section 1863 of title 16; and
(iv) to fund the Federal share of a fishing
capacity reduction program established
under section 1861a of title 16; and
(B) the provision of moneys, subject to paragraph (2), to carry out the purposes of the
Fisheries Promotion Fund established under
section 208(a) 2 of the Fish and Seafood Promotion Act of 1986 [16 U.S.C. 4008(a)].
(2) There are transferred from the fund established under paragraph (1) to the Fisheries Promotion Fund referred to in paragraph (1)(B)
$750,000 in fiscal year 1987, $3,000,000 in each of
fiscal years 1988 and 1989, and $2,000,000 in each
of fiscal years 1990 and 1991.
(c) Fisheries research and development projects
(1) The Secretary shall make grants from the
fund established under subsection (b) to assist
persons in carrying out research and development projects addressed to any aspect of United
States fisheries, including, but not limited to,
harvesting, processing, marketing, and associated infrastructures.
(2) The Secretary shall—
(A) at least once each fiscal year, receive,
during a 60-day period specified by him, applications for grants under this subsection;
(B) prescribe the form and manner in which
applications for grants under this subsection
must be made, including, but not limited to,
the specification of the information which
must accompany applications to ensure that
the proposed projects comply with Federal law
and can be evaluated in accordance with paragraph (3)(B); and
(C) approve or disapprove each such application before the close of the 120th day after the
last day of the 60-day period (specified under
subparagraph (a)) in which the application was
received.
(3) No application for a grant under this subsection may be approved unless the Secretary—
(A) is satisfied that the applicant has the
requisite technical and financial capability to
carry out the project; and
(B) evaluates the proposed project as to—
(i) soundness of design,
(ii) the possibilities of securing productive
results,
(iii) minimization of duplication with
other fisheries research and development
projects,
(iv) the organization and management of
the project,
(v) methods proposed for monitoring and
evaluating the success or failure of the project, and
(vi) such other criteria as the Secretary
may require.
(4) Each grant made under this subsection
shall be subject to such terms and conditions as
the Secretary may require to protect the interests of the United States, including, but not limited to, the following:
2 So

in original. Probably should be section ‘‘209(a)’’.

§ 713c–3

TITLE 15—COMMERCE AND TRADE

(A) The recipient of the grant must keep
such records as the Secretary shall require as
being necessary or appropriate for disclosing
the use made of grant funds and shall allow
the Secretary and the Comptroller General of
the United States, or any of their authorized
representatives, access to such records for purposes of audit and examination.
(B) The amount of a grant may not be less
than 50 percent of the estimated cost of the
project.
(C) The recipient of the grant must submit
to the Secretary periodic project status reports.
(5)(A) If the cost of a project will be shared by
the grant recipient, the Secretary shall accept,
as a part or all of that share, the value of inkind contributions made by the recipient, or
made available to, and applied by, the recipient,
with respect to the project.
(B) For purposes of subparagraph (A), in-kind
contributions may be in the form of, but are not
limited to, personal services rendered in carrying out functions related to, and permission to
use real or personal property owned by others
(for which consideration is not required) in carrying out the project. The Secretary shall establish (i) the training, experience, and other qualifications which shall be required in order for
services to be considered as in-kind contributions; and (ii) the standards under which the
Secretary will determine the value of in-kind
contributions for purposes of subparagraph (A).
(C) Any valuation determination made by the
Secretary for purposes of this paragraph shall be
conclusive.
(d) National fisheries research and development
program
(1) The Secretary shall carry out a national
program of research and development addressed
to such aspects of United States fisheries (including, but not limited to, harvesting, processing, marketing, and associated infrastructures) if not adequately covered by proj- ects assisted under subsection (c), as the Secretary
deems appropriate.
(2) The Secretary shall, after consultation
with appropriate representatives of the fishing
industry, submit to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Merchant Marine and
Fisheries of the House of Representatives, an
annual report, that must be submitted not later
than 60 days before the close of each fiscal year,
containing—
(A) the fisheries development goals and
funding priorities under paragraph (1) for the
next fiscal year;
(B) a description of all pending projects assisted under subsection (c) or carried out
under paragraph (1), in addition to—
(i) a list of those applications approved
and those disapproved under subsection (c),
and the total amount of grants made, for the
current fiscal year, and
(ii) a statement of the extent to which
available funds were not obligated or expended by the Secretary for grants under
subsection (c) during the current fiscal year;
and

Page 1132

(C) an assessment of each project assisted
under subsection (c) or carried out under paragraph (1) that was completed in the preceding
fiscal year regarding the extent to which (i)
the objectives of the project were attained,
and (ii) the project contributed to fishery development.
(e) Allocation of fund moneys
(1) Notwithstanding any other provision of
law, all moneys in the fund shall be used exclusively for the purpose of promoting United
States fisheries in accordance with the provisions of this section, and no such moneys shall
be transferred from the fund for any other purpose. With respect to any fiscal year, all moneys
in the fund, including the sum of all unexpended
moneys carried over into that fiscal year and all
moneys transferred to the fund under subsection
(b) or any other provision of law with respect to
that fiscal year, shall be allocated as follows:
(A) the Secretary shall use no less than 60
per centum of such moneys to make direct industry assistance grants to develop the United
States fisheries and to expand domestic and
foreign markets for United States fishery
products pursuant to subsection (c) of this section; and
(B) the Secretary shall use the balance of
the moneys in the fund to finance those activities of the National Marine Fisheries Service
which are directly related to development of
the United States fisheries pursuant to subsection (d) of this section.
(2) The Secretary shall, consistent with the
number of meritorious applications received
with respect to any fiscal year, obligate or expend all of the moneys in the fund described in
paragraph (1). Any such moneys which are not
expended in a given fiscal year shall remain
available for expenditure in accordance with
this section without fiscal year limitation, except that the Secretary shall not obligate such
moneys at a rate less than that necessary to
prevent the balance of moneys in the fund from
exceeding $3,000,000 at the end of any fiscal year.
(Aug. 11, 1939, ch. 696, § 2, 53 Stat. 1412; July 1,
1954, ch. 447, 68 Stat. 376; Aug. 8, 1956, ch. 1036,
§ 12(b), 70 Stat. 1124; Pub. L. 96–561, title II, § 210,
Dec. 22, 1980, 94 Stat. 3287; Pub. L. 97–424, title
IV, § 423(a), Jan. 6, 1983, 96 Stat. 2164; Pub. L.
99–659, title II, § 209(e), Nov. 14, 1986, 100 Stat.
3721; Pub. L. 101–627, title VII, § 703, Nov. 28, 1990,
104 Stat. 4463; Pub. L. 102–567, title IX, § 902(c),
Oct. 29, 1992, 106 Stat. 4319; Pub. L. 104–208, div.
A, title I, § 101(a) [title II, § 211(b)], Sept. 30, 1996,
110 Stat. 3009, 3009–41; Pub. L. 104–297, title I,
§ 116(c), Oct. 11, 1996, 110 Stat. 3603.)
Editorial Notes
CODIFICATION
‘‘Section 50501 of title 46’’ substituted for ‘‘section 2
of the Shipping Act, 1916 (46 U.S.C. 802)’’ in subsec.
(a)(1)(C) and (5)(B) and ‘‘such section 50501’’ substituted
for ‘‘such section 2’’ in subsec. (a)(1)(C) on authority of
Pub. L. 109–304, § 18(c), Oct. 6, 2006, 120 Stat. 1709, section
8(b) of which enacted parts A and B of subtitle V of
Title 46, Shipping.
Section is comprised of section 2 of act Aug. 11, 1939.
Subsec. (f) of section 2 of act Aug. 11, 1939, was omitted

Page 1133

§ 713c–3

TITLE 15—COMMERCE AND TRADE

in view of the repeal of the reporting requirements contained in that subsection by section 1(13) of Pub. L.
89–348. See Termination of Reporting Requirements
note below.
AMENDMENTS
1996—Subsec. (b)(1)(A)(iii). Pub. L. 104–208 made technical amendment to reference in original act which appears in text as reference to section 1863 of title 16.
Subsec. (b)(1)(A)(iv). Pub. L. 104–297 added cl. (iv).
Pub. L. 104–208 made technical amendment to reference in original act which appears in text as reference to section 1861a of title 16.
1992—Subsec. (b)(1)(A). Pub. L. 102–567 struck out
‘‘and’’ at end of cl. (i) and added cl. (iii).
1990—Subsec. (b)(2). Pub. L. 101–627 substituted ‘‘each
of fiscal years 1990 and 1991’’ for ‘‘fiscal year 1990’’.
1986—Subsec. (b). Pub. L. 99–659 designated existing
provisions as introductory provisions and subpar. (A) of
par. (1) and added pars. (1)(B) and (2).
1983—Subsec. (e). Pub. L. 97–424 amended subsec. (e)
generally, which formerly had provided:
‘‘(1) With respect to any fiscal year, not less than 50
percent of—
‘‘(A) the moneys transferred to the fund under subsection (b) of this section or any other provision of
law with respect to that fiscal year; and
‘‘(B) such existing fund moneys carried over into
that fiscal year;
shall be used by the Secretary during that fiscal year
to provide financial assistance for projects under subsection (c) of this section; and the remainder of such
moneys in the fund shall be used to implement the national fisheries research and development program established under subsection (d) of this section during
that fiscal year.
‘‘(2) Moneys accruing to the fund established under
subsection (b) of this section for any fiscal year and not
expended with respect to that year shall remain available for expenditure under this section without fiscal
year limitation.’’
1980—Subsec. (a). Pub. L. 96–561, § 210(2), (3), added
subsec. (a) and redesignated former subsec. (a) as (b).
Subsec. (b). Pub. L. 96–561, § 210(1), (2), (4), redesignated subsec. (a) as (b), substituted ‘‘transfer to the
Secretary’’ for ‘‘transfer to the Secretary of Commerce’’, ‘‘only for use by the Secretary’’ for ‘‘and used
by the Secretary of Commerce’’, and provision directing that the fund be used to provide financial assistance for carrying out fisheries research and development projects and to implement the national fisheries
research and development program for provision directing that the fund be used to promote free flow of domestically produced fisheries products by conducting a
fishery educational service and fishery technological,
biological, and related research programs, to acquire,
construct, or maintain vessels and other facilities necessary for conducting research, to develop and increase
markets for fishery products of domestic origin, and to
conduct any biological, technological, or other research pertaining to American fisheries, and struck out
former subsec. (b) which authorized any agency or
wholly owned government corporation of the United
States to transfer to the Secretary of Commerce any
vessels or equipment excess to its needs.
Subsec. (c). Pub. L. 96–561, § 210(1), (5), added subsec.
(c) and struck out former subsec. (c) which directed the
Secretary of Commerce to cooperate with other Federal, State, and local agencies for promotion of free
flow of domestically produced fishery products and provided for the appointment of an advisory committee of
the American fisheries industry to advise the Secretary
in formulation of policy, rules, and regulations.
Subsec. (d). Pub. L. 96–561, § 210(1), (5), added subsec.
(d) and struck out former subsec. (d) which authorized
the Secretary of Commerce to retransfer any funds
available under this section, not to exceed $1,500,000, to
the Secretary of Agriculture to be used for the purposes
specified in section 713c–2 of this title.
Subsec. (e). Pub. L. 96–561, § 210(1), (5), added subsec.
(e) and struck out former subsec. (e) which provided

that the special fund created for use of the Secretary of
Commerce under subsec. (a) of this section and the annual accruals thereto be available for each year until
expended by the Secretary.
1956—Subsec. (e). Act Aug. 8, 1956, struck out provisions which limited expenditures to not more than
$3,000,000 in any fiscal year, restricted the balance of
the fund to not more than $5,000,000 at the end of any
fiscal year, and required the Secretary of the Interior
to retransfer funds in excess of the $5,000,000 to the Secretary of Agriculture.
1954—Act July 1, 1954, amended section generally, to
encourage the distribution of fishery products.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1996 AMENDMENT
Section 101(a) [title II, § 211(b)] of div. A of Pub. L.
104–208 provided that the amendment made by that section is effective 15 days after Oct. 11, 1996.
EFFECTIVE DATE OF 1983 AMENDMENT
Pub. L. 97–424, title IV, § 423(b), Jan. 6, 1983, 96 Stat.
2165, provided that: ‘‘The amendment made by subsection (a) of this section [amending this section] shall
take effect on October 1, 1983.’’
SHORT TITLE
Section 2 of act Aug. 11, 1939, which enacted this section, is popularly known as the ‘‘Saltonstall-Kennedy
Act’’.
TERMINATION OF REPORTING REQUIREMENTS
For termination, effective May 15, 2000, of provisions
in subsec. (d)(2) of this section relating to submitting
annual report to Congress, see section 3003 of Pub. L.
104–66, as amended, set out as a note under section 1113
of Title 31, Money and Finance, and page 50 of House
Document No. 103–7.
Pub. L. 89–348, § 1(13), Nov. 8, 1965, 79 Stat. 1311, repealed the following reporting requirement: ‘‘The annual report to the appropriate committees of Congress
on the use of the separate fund created for the promotion of the free flow of domestically produced fishery products (68 Stat. 376; 15 U.S.C. 713c–3(f)).’’
ABOLITION OF HOUSE COMMITTEE ON MERCHANT MARINE
AND FISHERIES
Committee on Merchant Marine and Fisheries of
House of Representatives abolished and its jurisdiction
transferred by House Resolution No. 6, One Hundred
Fourth Congress, Jan. 4, 1995. Committee on Merchant
Marine and Fisheries of House of Representatives treated as referring to Committee on Resources of House of
Representatives in case of provisions relating to fisheries, wildlife, international fishing agreements, marine affairs (including coastal zone management) except for measures relating to oil and other pollution of
navigable waters, or oceanography by section 1(b)(3) of
Pub. L. 104–14, set out as a note preceding section 21 of
Title 2, The Congress. Committee on Resources of
House of Representatives changed to Committee on
Natural Resources of House of Representatives by
House Resolution No. 6, One Hundred Tenth Congress,
Jan. 5, 2007.
CONTINUATION OF AUTHORIZATION FOR TRANSFER OF
FUNDS
Act Aug. 8, 1956, ch. 1036, § 12(a), 70 Stat. 1124, provided
that: ‘‘The authorization for the transfer of certain
funds from the Secretary of Agriculture to the Secretary of the Interior and their maintenance in a separate fund as contained in section 2(a) of the Act of August 11, 1939, as amended July 1, 1954 (68 Stat. 376), [now
subsec. (b) of this section], shall be continued for the
year ending June 30, 1957, and each year thereafter.’’
TERMINATION OF ADVISORY COMMITTEES
Advisory committees in existence on Jan. 5, 1973, to
terminate not later than the expiration of the 2-year

§ 713d

TITLE 15—COMMERCE AND TRADE

period following Jan. 5, 1973, unless, in the case of a
committee established by the President or an officer of
the Federal Government, such committee is renewed by
appropriate action prior to the expiration of such 2year period, or in the case of a committee established
by the Congress, its duration is otherwise provided by
law. See section 14 of Pub. L. 92–463, Oct. 6, 1972, 86
Stat. 776, set out in the Appendix to Title 5, Government Organization and Employees.
Executive Documents
TRANSFER OF FUNCTIONS
Functions of all officers, agencies, and employees of
Department of Agriculture transferred, with certain exceptions, to Secretary of Agriculture by Reorg. Plan
No. 2 of 1953, § 1, eff. June 4, 1953, 18 F.R. 3219, 67 Stat.
633, set out in the Appendix to Title 5, Government Organization and Employees.

§ 713d. Declaration of purpose
The purposes of this joint resolution are to aid
in stabilizing the economy of the United States,
to aid in curbing inflationary tendencies, to promote the orderly and equitable distribution of
goods and facilities, and to aid in preventing
maldistribution of goods and facilities which basically affect the cost of living or industrial production.
(Dec. 30, 1947, ch. 526, § 1, 61 Stat. 945.)
Editorial Notes
REFERENCES IN TEXT
This joint resolution, referred to in text, means act
Dec. 30, 1947, ch. 526, 61 Stat. 945. For complete classification of this Act to the Code, see Tables.
CODIFICATION
Section was formerly classified to section 1911 of the
former Appendix to Title 50, War and National Defense,
prior to editorial reclassification and renumbering as
this section.
Executive Documents
EX. ORD. NO. 9919. DELEGATION OF AUTHORITY AND ESTABLISHMENT OF PROCEDURES UNDER 15 U.S.C. 713d ET
SEQ.
Ex. Ord. No. 9919, Jan. 3, 1948, 13 F.R. 59, provided:
By virtue of the authority vested in me by the joint
resolution approved December 30, 1947 (Public Law 395,
80th Congress) [15 U.S.C. 713d et seq.], and as President
of the United States, it is hereby ordered as follows:
1. The authority to consult with representatives of
industry, business, and agriculture with a view to encouraging the making of voluntary agreements or plans
provided for in section 2 of the said joint resolution of
December 30, 1947 [61 Stat. 945, former 50 App. U.S.C.
1912] (hereinafter referred to as the joint resolution),
and the authority to approve any such agreements or
plans and to make written requests for compliance
with any such agreements or plans is delegated severally to the Secretary of the Interior, the Secretary of
Agriculture, the Secretary of Commerce, and the Director of the Office of Defense Transportation as provided
in paragraphs 2, 3, 4, and 5 hereof: Provided, however,
that no such agreement or plan shall be approved by
any of such officers unless it is first submitted to and
approved by the Attorney General. The consultation
above referred to may be through advisory committees
approved by the appropriate governmental officer or
agency as representative of the various segments of the
industry involved. Prior to submitting any such proposed agreement or plan to the Attorney General the
appropriate governmental officer or agency shall give

Page 1134

industry, labor, and the public generally an opportunity to present their views with respect to the agreement or plan. The submission of the proposed agreement or plan to the Attorney General shall be accompanied by the favorable recommendation of the head of
the appropriate department or agency and by a statement of (a) the circumstances which require the proposed agreement or plan, (b) the means by which the
agreement or plan will be carried out, (c) the effect of
the agreement or plan on persons and industries affected, including where appropriate the proposed degree
of curtailment in amount and prospective use of any
material, commodity, or product by any processor or
user thereof, and the formulae for such curtailment, (d)
the criteria used in the establishment of such formulae,
and (e) the factual evidence on which the recommendation for approval is made, showing which information,
if any, is subject to restrictions for reasons of military
security.
2 (a). The authority delegated to the Secretary of the
Interior by paragraph 1 hereof shall be exercised by him
with respect to priority, allocation, and inventory control of fuels.
(b). For the purposes of this order the term ‘‘fuels’’
means coal, coke, petroleum and petroleum products,
and natural and manufactured gas.
3 (a). The authority delegated to the Secretary of Agriculture by paragraph 1 hereof shall be exercised by
him with respect to priority, allocation, and inventory
control of agricultural commodities and with respect
to speculative trading on commodity exchanges.
(b). For the purposes of this order, the term ‘‘agricultural commodities’’ means all commodities and products, simple, mixed, or compound, or complements to
such commodities or products that are or may be eaten
or drunk by human beings or animals, irrespective of
other uses to which such commodities or products may
be put, and at all stages of processing from the raw
commodity to the product thereof in a vendible form
for immediate human or animal consumption, but exclusive of such commodities and products as the Secretary of Agriculture shall determine. For the purposes
of this order, the term ‘‘agricultural commodities’’
shall also include all starches, sugars, fats and oils of
animal, vegetable, or marine origin (including oil seeds
and other oil bearing materials, fatty acids, soap and
soap powder), cotton, tobacco, wool, hemp, flax, fiber,
and alcohol, and also such other commodities and products as the President may designate.
4 (a). The authority delegated to the Director of the
Office of Defense Transportation by paragraph 1 hereof
shall be exercised by him with respect to allocation of
transportation facilities and equipment.
(b). The powers, authority, and discretion conferred
on the President by section 4(a) of the joint resolution
[61 Stat. 946, former 50 App. U.S.C. 1914(a)] with respect
to the use of transportation equipment and facilities by
rail carriers are hereby included within the powers, authority, and discretion delegated to the Director of the
Office of Defense Transportation under Executive Order
No. 8989 of December 18, 1941 (6 F.R. 6725), as amended
by Executive Order No. 9389 of October 18, 1943 (8 F.R.
14183), Executive Order No. 9156 of May 2, 1942 (7 F.R.
3349), Executive Order No. 9214 of August 5, 1942 (7 F.R.
6097), and Executive Order No. 9729 of May 23, 1946 (11
F.R. 5641). The said Executive orders are amended accordingly.
5. The authority delegated to the Secretary of Commerce by paragraph 1 hereof shall be exercised by him
with respect to priority, allocation, and inventory control of scarce commodities which basically affect the
cost of living or industrial production, other than fuels
as provided in paragraph 2, agricultural commodities as
provided in paragraph 3, and transportation facilities
and equipment as provided in paragraph 4.
6. The Secretary of Agriculture is hereby authorized
to carry out a program for the conservation of food and
feed and for that purpose to exercise the authority conferred upon the President by section 8 of the joint resolution [15 U.S.C. 713d–2].

Page 1135

§ 713d–2

TITLE 15—COMMERCE AND TRADE

7. The Secretary of Commerce is hereby authorized to
continue exercising the powers, authority, and discretion conferred upon the President by section 6 of the
act of July 2, 1940, 54 Stat. 714, as amended [former 50
App. U.S.C. 701]. Such powers, authority, and discretion, and the powers, authority, and discretion vested
in the President by section 3 of the joint resolution [61
Stat. 946, former 50 App. U.S.C. 1913] are hereby included within the delegation made to the Secretary of
Commerce by Executive Order No. 9630 of September 27,
1945 (10 F.R. 12245), and the said Executive order is
modified accordingly.
8. Each governmental officer or agency exercising authority delegated under this order shall, in exercising
such authority, consult with other agencies or committees having special information or sources of such information about the supply of or demand for the materials, commodities, or facilities involved and with
other agencies or committees having responsibilities
related to such authority. Each agency shall establish
such committees and other working groups as may be
appropriate to consult with and obtain the advice of
other agencies.
9. Nothing in this order shall be deemed to affect the
powers, authority, or discretion delegated to the Secretary of Agriculture by Executive Order No. 9915 of
December 30, 1947.
HARRY S. TRUMAN.

§ 713d–1. Critical shortages; recommendations by
President; public hearings
(a) Whenever the President shall determine
that there is or threatens to be a critical shortage of any raw material, commodity, or product
which jeopardizes the health or safety of the
people of the United States or its national security or welfare and that there is no prospect
that such critical shortage may soon be remedied by an increase in the available supply
without additional governmental action and
that the situation cannot be solved by voluntary
agreement under the provisions of this Act, he
may prepare proposed measures for conserving
such raw material, commodity, or product
which he shall submit to the Congress in the following form:
(1) A statement of the circumstances which, in
the President’s judgment, require the proposed
conservation measures.
(2) A detailed procedure for the administration
of the proposed measures including the additional budget and additional personnel required
for their enforcement.
(3) The proposed degree of curtailment in current and prospective use of each such raw material, commodity, or product by each processor
and/or user thereof, including the specific formulae proposed for such curtailment with respect to each class or classes of processors or
users and the criteria used in the establishment
of such formulae.
(4) A complete record of the factual evidence
upon which his recommendations are based, including all information provided by any agency
of the Federal Government which may have
been made available to him in the course of his
consideration of the matter.
(b) Within fifteen days after the submission of
such proposed conservation measures, the Joint
Economic Committee shall conduct public hearings thereon and shall make such recommendations to the Congress for legislative action as in
its judgment the recommendations of the President and any additional information disclosed at
the public hearings may require.

(Dec. 30, 1947, ch. 526, § 6, 61 Stat. 947; June 18,
1956, ch. 399, § 2, 70 Stat. 290.)
Editorial Notes
REFERENCES IN TEXT
This Act, referred to in text, means act Dec. 30, 1947,
ch. 526, 61 Stat. 945. For complete classification of this
Act to the Code, see Tables.
CODIFICATION
Section was formerly classified to section 1916 of the
former Appendix to Title 50, War and National Defense,
prior to editorial reclassification and renumbering as
this section.
AMENDMENTS
1956—Subsec. (b). Act June 18, 1956, changed ‘‘Joint
Committee on the Economic Report’’ to ‘‘Joint Economic Committee’’.

§ 713d–2. Food and conservation program; appropriations; administrative expenses
(a) In order to alleviate shortages in foods and
feeds, and to assist in stabilizing prices, the
President shall carry out a program for the conservation of food and feed. In carrying out such
program, the President is authorized, through
the dissemination of information, educational
and other campaigns, the furnishing of assistance, and such other voluntary and cooperative
measures as he deems necessary or appropriate,
to encourage and promote the efficient utilization, care, and preservation of food and feed, the
elimination of practices which waste food and
feed, the control and eradication of insects and
rodents, the consumption of less of these foods
and feeds which are in short supply and more of
those foods and feeds which are in abundant supply, and other conservation practices. The authority herein conferred may be exercised by the
President through such departments, agencies,
independent establishments, and officials of the
Federal Government and such State, local, and
private agencies as he may determine.
(b) There is hereby authorized to be appropriated to the President such sums as may be
necessary to carry out this section. To enable
the President to carry out this section for the
remainder of the fiscal year ending June 30, 1948,
there is made available not to exceed $1,000,000
from any funds made available by the Congress
for carrying out Public Law 84, Eightieth Congress, or from any funds made available by the
Congress for interim foreign aid. Funds made
available for the purpose of this section may be
used for necessary administrative expenses, including personal services in the District of Columbia and elsewhere, purchase or hire of motor
vehicles, temporary or intermittent services of
experts or consultants or organizations thereof,
including stenographic reporting services, by
contract, without regard to the civil service and
classification laws (the compensation of any
such individual not to exceed $50 per day). Funds
made available for the purposes of this section
may be allotted for any of the purposes of this
section to any department, agency, or independent establishment of the Government, or
transferred to any other agency requested to assist in carrying out this section. Funds allotted
to any department, agency, or independent es-

§ 713d–3

TITLE 15—COMMERCE AND TRADE

tablishment of the Government shall be available for obligation and expenditure in accordance with the laws governing obligations and expenditures of the department, agency, or independent establishment, or organizational unit
thereof concerned, and without regard to section
6101 of title 41 and section 3324(a) and (b) of title
31.
(Dec. 30, 1947, ch. 526, § 8, 61 Stat. 947.)
Editorial Notes

Page 1136

modity 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

REFERENCES IN TEXT

AMENDMENTS

Public Law 84, Eightieth Congress, referred to in subsec. (b), is act May 31, 1947, ch. 90, 61 Stat. 125, which
was classified generally to chapter 17 (§ 1411 et seq.) of
Title 22, Foreign Relations and Intercourse, and was repealed by act Aug. 26, 1954, ch. 937, title V, § 542(a)(2), 68
Stat. 861. For complete classification of this Act to the
Code, see Tables.
Section 6101 of title 41, referred to in subsec. (b), was
in the original a reference to section 3709 of the Revised
Statutes, which was classified to section 5 of former
Title 41, Public Contracts, and was repealed and restated in section 6101 of Title 41, Public Contracts, by
Pub. L. 111–350, §§ 3, 7(b), Jan. 4, 2011, 124 Stat. 3677, 3855.
Section 3324(a) and (b) of title 31, referred to in subsec. (b), was in the original a reference to section 3648
of the Revised Statutes, which was classified to section
529 of former Title 31, Money and Finance, and was repealed and restated as section 3324(a) and (b) of Title 31,
Money and Finance, by Pub. L. 97–258, §§ 1, 5(b), Sept.
13, 1982, 96 Stat. 877, 1068.

1949—Act June 7, 1949, placed the general supervision
and direction of the Commodity Credit Corporation in
the Secretary of Agriculture.

CODIFICATION
Section was formerly classified to section 1918 of the
former Appendix to Title 50, War and National Defense,
prior to editorial reclassification and renumbering as
this section.

§ 713d–3. Authorizations for appropriations
There is authorized to be appropriated such
amounts as may be necessary for purposes of
carrying out the provisions of this joint resolution.
(Dec. 30, 1947, ch. 526, § 9, 61 Stat. 948.)
Editorial Notes
REFERENCES IN TEXT
This joint resolution, referred to in text, means act
Dec. 30, 1947, ch. 526, 61 Stat. 945. For complete classification of this Act to the Code, see Tables.

Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section 18 of act June 29, 1948, provided that sections
714 to 714o of this title shall take effect as of midnight
June 30, 1948.
SHORT TITLE
Congress in enacting sections 714 to 714p of this title
provided by section 1 of act June 29, 1948, 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, § 2517, formerly § 2518, Nov.
28, 1990, 104 Stat. 4078, as renumbered by Pub. L. 104–66,
title I, § 1011(h), Dec. 21, 1995, 109 Stat. 710, provided
that: ‘‘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.’’
[Pub. L. 104–127, title VII, § 711, Apr. 4, 1996, 110 Stat.
1112, which directed the repeal of section 2517 of the
Food, Agriculture, Conservation, and Trade Act of 1990,
Pub. L. 101–624, 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
Pub. L. 104–66, title I, § 1011(h), Dec. 21, 1995, 109 Stat.
710, which repealed section 2517 of Pub. L. 101–624 relating to such study, and renumbered section 2518 of Pub.
L. 101–624, set out above, as section 2517 of Pub. L.
101–624.]
Executive Documents

CODIFICATION

EXCEPTIONS FROM TRANSFER OF FUNCTIONS

Section was formerly classified to section 1919 of the
former Appendix to Title 50, War and National Defense,
prior to editorial reclassification and renumbering as
this section.

For 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 section 712a of this title.

SUBCHAPTER II—COMMODITY CREDIT
CORPORATION
§ 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 Com-

§ 714a. Location of offices
The Corporation may establish offices in such
place or places as it may deem necessary or desirable in the conduct of its business.
(June 29, 1948, ch. 704, § 3, 62 Stat. 1070.)
Executive Documents
EXCEPTIONS FROM TRANSFER OF FUNCTIONS
For 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