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 Commodity 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”).
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Source location: Title 15, Chapter 15, § 714; chapter-015-economic-recovery.md
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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 Commodity 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”).
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Federal law — U.S. Code and appendices · legal_authorities
§ 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 col-
lectively referred to as ‘‘agricultural commod-
ities’’), and of facilitating the orderly distribu-
tion of agricultural commodities, there is cre-
ated a body corporate to be known as Com-
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 re-
ferred to as the ‘‘Secretary’’).
(June 29, 1948, ch. 704, § 2, 62 Stat. 1070; June 7,
1949, ch. 175, § 1, 63 Stat. 154.)
Editorial Notes
AMENDMENTS
1949—Act June 7, 1949, placed the general supervision
and direction of the Commodity Credit Corporation in
the Secretary of Agriculture.
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 prac