§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accurate books of account and to determine the procedures to be followed in the transaction of corporate business, was superseded by sections 714, 714b(a), (d), (l), and 714f of this title.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settlement and adjustment of any claims by or against the Corporation or the accounts of its fiscal officers" was superseded by section 714b(k) of this title.

Remainder of section, relating to audit of financial transactions of the Corporation, was superseded by sections 841 to 870 of former Title 31 [see chapter 91 of Title 31, Money and Finance].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Act July 1, 1941, ch. 270, §1, 55 Stat. 498 , formerly classified to this section, was repealed by Pub.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12, 1945, ch. 54, §5, 59 Stat. 51 ; June 30, 1947, ch. 164, 61 Stat. 201 , formerly classified to this section, were repealed by Pub.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 Corporation 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.