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from any unobligated balance of the appropriation for any other year. (Feb. 16, 1938, 3 p. m., ch. 30, title III, § 391, 52 Stat. 69; July 2, 1940, ch. 521, § 8, 54 Stat. 728.)

§ 1392. Administrative expenses; posting names and compen. sation of local employees.-(a) The Secretary is authorized and directed to make such expenditures as he deems necessary to carry out the provisions of this chapter and sections 590g, 590h, 590i, 590j-590q of Title 16, including personal services and rents in the District of Columbia and elsewhere; traveling expenses; supplies and equipment; lawbooks, books of reference, directors, periodicals, and newspapers; and the preparation and display of exhibits, including such displays at community, county, State, interstate, and international fairs within the United States. The Secretary of the Treasury is authorized and directed upon the request of the Secretary to establish one or more separate appropriation accounts into which there shall be transferred from the respective funds available for the

for the purposes of this chapter and sections 590g, 590h, 590i, 590j-590q of Title 16, in connection with which personnel or other facilities of the Agricultural Adjustment Administration are utilized, proportionate amounts estimated by the Secretary to be required by the Agricultural Adjustment Administration for administrative expenses in carrying out or cooperating in carrying out any of the provisions of this chapter and sections 590g, 590h, 590i, 590j590q of Title 16.

(b) In the administration of sections 1301-1393 of this title and sections 590g, 590h, 590i, 590j-590q of Title 16, the aggregate amount expended in any fiscal year, beginning with the fiscal year ending June 30, 1942, for administrative expenses in the District of Columbia, including regional offices, and in the several States (not including the expenses of county and local committees) shall not exceed 3 per centum of the total amount available for such fiscal year for carrying out the purposes of sections 1301-1393 of this title and sections 590a-590h, 590i, 590j590q of Title 16. In the administration of section 612c of this title, and sections 601, 602, 608a-608e, 610, 612, 614, 624, 671-674 of this title, the aggregate amount expended in any fiscal year, beginning with the fiscal year ending June 30, 1942, for administrative expenses in the District of Columbia, including regional offices, and in the several States (not including the expenses of county and local committees) shall not exceed 4 per centum of the total amount available for such fiscal year for carrying out the purposes of said sections. In the event any administrative expenses of any county or local committee are deducted in any fiscal year, beginning with the fiscal year ending June 30, 1939, from Soil Conservation Act payments, parity payments, or loans, each farmer receiving benefits under such provisions shall be apprised of the amount or percentage deducted from such benefit payment or loan on account of such administrative expenses. The names and addresses of the members and employees of any county or local committee, and the amount of such compensation received by each of them, shall be posted annually in a conspicuous place in the area within which they are employed. (Feb. 16, 1938, 3

p. m., ch. 30, title III, § 392, 52 Stat. 69; Jan. 31, 1942, ch. 32, 56 Stat. 41.)

AMENDMENTS 1942—Act Jan. 31, 1942, cited to text, amended section generally.

EFFECTIVE DATE Amendment of subsecs. (a) and (b) of this section by act Jan. 31, 1942, cited to text, was made "effective for the fiscal year 1942 and subsequent fiscal years" by said act.

REFERENCES IN TEXT Words "Soil Conservation Act” set out in subsec. (b)- mean Soil Conservation and Domestic Allotment Act, set out as sections 590a-590h, 590i, 590j-5907 of Title 16, Conservation.

§ 1393. Allotment of appropriations.—All funds for carrying out the provisions of this chapter shall be available for allotment to bureaus and offices of the Department, and for transfer to such other agencies of the Federal Government, and to such State agencies, as the Secretary may request to cooperate or assist in carrying out the provisions of this chapter. (Feb. 16, 1938, 3 p. m., ch. 30, title III, § 393, 52 Stat. 70.)

SUBCHAPTER III.-COTTON POOL PARTICIPATION TRUST

CERTIFICATES

§ 1401. Appropriation. There is hereby authorized to be appropriated, from any moneys in the Treasury of the United States not otherwise appropriated, the sum of $1,800,000, or so much thereof as may be required by the Secretary to accomplish the purposes hereinafter declared and authorized. The Secretary of the Treasury is hereby authorized and directed to pay to, or upon the order of, the Secretary, such a part or all of the sum hereby authorized to be appropriated at the request of the Secretary. (Feb. 16, 1938, 3 p. m., ch. 30, title IV, S 401, 52 Stat. 70.)

SETTLEMENT OF CERTAIN CLAIMS AND ACCOUNTS Act June 5, 1942, ch. 349, SS 2, 3, 56 Stat. 324, authorized Comptroller General to relieve disbursing and certifying officers from liability for payments made under sections 1401-1404, 1405-1407 of this title, upon certificate of Secretary of Agriculture that such payments were made in good faith, and also provided that no action should be taken to recover such excess payments, if the Secretary of Agriculture should further certify that, in view of the good faith of the parties or other circumstances of the case, such attempt to recover them would be inadvisable or inequitable.

$ 1402. Deposit of appropriation to credit of Secretary of Agriculture.--The Secretary is hereby authorized to draw from the Treasury of the United States any part or all of the sum hereby authorized to be appropriated, and to deposit same to his credit with the Treasurer of the United States, under special symbol number, to be available for disbursement for the purposes hereinafter stated. (Feb. 16, 1938, 3 p. m., ch. 30, title IV, $ 402, 52 Stat. 70.)

$ 1403. Allotment of funds to manager of cotton pool for purchase of certificates.-- The Secretary is hereby authorized to make available, from the sum hereby authorized to be appropriated, to the manager of the cotton pool, such sum or sums as may be necessary to enable the manager to purchase, take up, and cancel, subject to the restrictions hereinafter reserved, pool participation trust certificates, form C-5-I, where such certificates shall be tendered to the manager, cotton pool, by the person or persons shown by the records of the Department to have been the lawful holder and owner thereof on or before May 1, 1938, the purchase price to be paid for the certificates so purchased to be at the rate of $1 per five-hundred-pound bale for every bale or fractional part thereof represented by the certificates C-5-1. The Secretary is further authorized to pay directly, or to advance to, the manager of the cotton pool, to enable him to pay costs and expenses incident to the purchase of certificates as aforesaid, and any balance remaining to the credit of the Secretary, or the manager, cotton pool, not required for the purchase of these certificates in accordance with provisions of this chapter, shall, at the expiration of the purchase period, be covered into the Treasury of the United States as miscellaneous receipts. (Feb. 16, 1938, 3 p. m., ch. 30, title IV, § 403, 52 Stat. 70; Apr. 7, 1938, ch. 107, § 13, 52 Stat. 204.)

CROSS REFERENCE Delegation of regulatory functions of Secretary of Agriculture, see section 516a et seq. of Title 5, Executive Departments and Government Officers and Employees.

§ 1404. Purchase of outstanding pool participation certificates; time limit; rules and regulations. The authority of the manager, cotton pool, to purchase and pay for certificates hereunder shall extend to and include the 31st day of July 1938: Provided, That after expiration of the said limit, the purchase may be consummated of any certificates tendered to the manager, cotton pool, on or before July 31, 1938, but where for any reason the purchase price shall not have been paid by the manager, cotton pool. The Secretary is authorized to promulgate such rules, regulations, and requirements as in his discretion are proper to effectuate the general purposes of sections 1401-1407 of this title, which purpose is here stated to be specifically to authorize the purchase of outstanding pool participation trust certificates, form C-5-1, for a purchase price to be determined at the rate of $1 per bale, or twenty one-hundredths cent per pound, for the cotton evidenced by the said certificates, provided such certificates be tendered by holders thereof in accordance with regulations prescribed by the Secretary not later than the 31st day of July 1938, and provided such certificates may not be purchased from persons other than those shown by the records of the Department to have been holders thereof on or before the 1st day of May 1938. (Feb. 16, 1938, 3 p. m., ch. 30, title IV, § 404, 52 Stat. 71; Apr. 7, 1938, ch. 107, $ 14, 52 Stat. 204.)

§ 1404a. Same; extension of time limit.— The authority of the manager, cotton pool, to purchase and pay for participation trust certificates, Form C-5-I, shall extend to and include the 30th day of September 1939, but after the expiration of said limit the purchase may be consummated of any such certificates tendered to the manager, cotton pool, on or before September 30, 1939, but where for any reason the purchase price shall not have

been paid by the manager, cotton pool: Provided, That the date May 1, 1938, appearing in sections 1401-1407 of this title as amended, shall not be applicable. (June 16, 1938, ch. 464, title I, 52 Stat. 747; Apr. 5, 1939, ch. 44, 53 Stat. 572.)

CODIFICATION This section is not a part of the Agricultural Adjustment Act of 1938. § 1404b. Same; death, incompetence, or disappearance of payee. - In case any person who is entitled to payment on a participation trust certificate, Form C-5-1, dies, becomes incompetent, or disappears before receiving such payment or before application for such payment is executed, the Secretary of Agriculture shall provide by regulations, without regard to any other provisions of law, for such payment to such person as he may determine to be fairly and reasonably entitled thereto. (June 16, 1938, ch. 464, title I, 52 Stat. 747.)

This section is not a part of the Agricultural Adjustment Act of 1938.

§ 1405. Continuance of 1933 cotton producers pool; funds for payment of expenses.--The Secretary is authorized to continue in existence the 1933 cotton producers pool so long as may be required to effectuate the purposes of sections 1401-1407 of this title. All expense incident to the accomplishment of purposes of sections 1401-1407 of this title may be paid from funds hereby authorized to be appropriated, for which purpose the fund hereby authorized to be appropriated shall be deemed as supplemental to such funds as are now to the credit of the Secretary, reserved for the purpose of defraying operating expenses of the pool. (Feb. 16, 1938, 3 p. m., ch. 30, title IV, § 405, 52 Stat. 71.)

§ 1406. Prohibition of purchase of certificates after expiration of time limit. After expiration of the time limit herein established, the certificates then remaining outstanding and not theretofore tendered to the manager, cotton pool, for purchase, shall not be purchased and no obligation on account thereof shall exist. (Feb. 16, 1938, 3 p. m., ch. 30, title IV, $ 406, 52 Stat. 71.)

CROSS REFERENCE Delegation of regulatory functions of Secretary of Agriculture, see section 516a et seq. of Title 5, Executive Departments and Government Officers and Employees.

§ 1407. Purchase from assignee of certificates; prices.—Nothing in sections 1401-1407 of this title shall be construed to authorize the manager, cotton pool, to pay the assignee or any holder of such cotton pool participation trust certificates, form C-5-1, transferred subsequent to May 1, 1937, as shown by the records of the Department of Agriculture, more than the purchase price paid by the assignee or holder of such certificate or certificates with interest at the rate of 4 per centum per annum from the date of purchase, provided the amount paid such assignee shall not exceed $1 per bale. Before making payment to any assignee, whose certificates were transferred subsequent to May 1, 1937, such assignee shall file with the manager, cotton pool, an affidavit showing the amount paid by him for such certificate and the date of such payment, and the manager, cotton pool, is authorized to make payment to such assignee based upon the facts stated in said affidavit as aforesaid. (Feb. 16, 1938, 3 p. m., ch. 30, title IV, $ 407, 52 Stat. 71; Apr. 7, 1938, ch. 107, § 15, 52 Stat. 204.)

Chapter 36.—CROP INSURANCE § 1501. Short title; application of other laws.—This chapter may be cited as the "Federal Crop Insurance Act". Except as otherwise expressly provided the provisions in sections 590h and 5900 of Title 16, as amended by Act Feb. 16, 1938, ch. 30, $$ 101104, 52 Stat. 31-35, and sections 1291-1407 of this title, inclusive, shall not apply with respect to this chapter, and the term "chapter" wherever it appears in such sections shall not be construed to include this chapter. (Feb. 16, 1938, 3 p. m., ch. 30 title V, 501, 52 Stat. 72.)

§ 1502. Declaration of purpose. It is the purpose of this chapter to promote the national welfare by alleviating the economic distress caused by crop failures due to drought and other causes, by maintaing the purchasing power of farmers, and by providing for stable supplies of agricultural commodities for domestic consumption and the orderly flow thereof in interstate commerce. (Feb. 16, 1938, ch. 30, title V, $ 502, 52 Stat. 72; June 21, 1941, ch. 214, § 1, 55 Stat. 255.)

AMENDMENTS 1941–Act June 21, 1941, cited to text, substituted "crop" for "wheatcrop" and "agricultural commodities” for “wheat".

§ 1503. Federal Crop Insurance Corporation; creation; offices.To carry out the purposes of this chapter, there is hereby created as an agency of and within the Department of Agriculture a body corporate with the name “Federal Crop Insurance Corporation” herein called the Corporation). The principal office of the Corporation shall be located in the District of Columbia, but there may be established agencies or branch offices elsewhere in the United States under rules and regulations prescribed by the Board of Directors. (Feb. 16, 1938, 3 p. m., ch. 30. title V, $ 503, 52 Stat. 72.)

TRANSFER OF FUNCTIONS Federal Crop Insurance Corporation consolidated with other agencies into Agricultural Conservation and Adjustment Administration for duration of war, see Ex. Ord. No. 9069, set out in note under section 601 of Appendix to Title 50, War.

$ 1504. Capital stock of Corporation; subscription by United States; appropriation.—(a) The Corporation shall have a capital stock of $100,000,000 subscribed by the United States of America, payment for which shall, with the approval of the Secretary of Agriculture, be subject to call in whole or in part by the Board of Directors of the Corporation.

Any impairment of the capital stock described in this subsection shall be restored only out of operating profits of the Corporation.

(b) There is hereby authorized to be appropriated not more than $100,000,000 for the purpose of subscribing to said stock.

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