15 U.S.C. § 714c — Specific powers of Corporation
submitted 78 years ago by ch. 704 to r/title-15-COMMERCE-AND-TRADE · 313 words · no verdicts yet
The Corporation may use its general powers only for the listed agricultural-commodity, market, conservation, environmental, and other operations that Congress authorizes.
In carrying out its purposes and its annual budget programs approved by Congress under title 31, chapter 91, the Corporation may use its general powers only to:
(a) Support the prices of agricultural commodities other than tobacco through loans, purchases, payments, and other operations.
(b) Provide materials and facilities needed to produce and market agricultural commodities other than tobacco.
(c) Obtain agricultural commodities other than tobacco for sale to government agencies, foreign governments, relief or rehabilitation agencies in the United States or elsewhere, and to meet domestic needs.
(d) Remove, dispose of, or help remove or dispose of surplus agricultural commodities other than tobacco.
(e) Increase domestic use of agricultural commodities other than tobacco by expanding domestic markets, or developing or helping develop new markets, marketing facilities, and uses.
(f) Export, arrange for the export of, or help develop foreign markets for agricultural commodities other than tobacco. This includes fish and fish products, whether or not the fish were harvested through aquaculture.
(g) Carry out conservation or environmental programs authorized by law.
(h) Carry out other operations that Congress specifically authorizes or provides for.
In buying and selling agricultural commodities other than tobacco, except sales to other government agencies, and in warehousing, transporting, processing, or handling those commodities, the Corporation must use the usual channels, facilities, and arrangements of trade and commerce as far as practicable while fulfilling its purposes and conducting business effectively and efficiently. The Corporation may choose to use private-sector entities.
In the fulfillment of its purposes and in carrying out its annual budget programs submitted to and approved by the Congress pursuant to chapter 91 of title 31, the Corporation is authorized to use its general powers only to—
Support the prices of agricultural commodities (other than tobacco) through loans, purchases, payments, and other operations.
Make available materials and facilities required in connection with the production and marketing of agricultural commodities (other than tobacco).
Procure agricultural commodities (other than tobacco) for sale to other Government agencies, foreign governments, and domestic, foreign, or international relief or rehabilitation agencies, and to meet domestic requirements.
Remove and dispose of or aid in the removal or disposition of surplus agricultural commodities (other than tobacco).
Increase the domestic consumption of agricultural commodities (other than tobacco) by expanding or aiding in the expansion of domestic markets or by developing or aiding in the development of new and additional markets, marketing facilities, and uses for such commodities.
Export or cause to be exported, or aid in the development of foreign markets for, agricultural commodities (other than tobacco) (including fish and fish products, without regard to whether such fish are harvested in aquacultural operations).
Carry out conservation or environmental programs authorized by law.
Carry out such other operations as the Congress may specifically authorize or provide for.
In the Corporation’s purchasing and selling operations with respect to agricultural commodities (other than tobacco) (except sales to other Government agencies), and in the warehousing, transporting, processing, or handling of agricultural commodities (other than tobacco), the Corporation shall, to the maximum extent practicable consistent with the fulfillment of the Corporation’s purposes and the effective and efficient conduct of its business, utilize the usual and customary channels, facilities, and arrangements of trade and commerce (including, at the option of the Corporation, the use of private sector entities).
Source credit: (June 29, 1948, ch. 704, § 5, 62 Stat. 1072; Pub. L. 98–623, title IV, § 405(a), Nov. 8, 1984, 98 Stat. 3409; Pub. L. 104–127, title III, § 381(a), Apr. 4, 1996, 110 Stat. 1016; Pub. L. 107–171, title I, § 1609, May 13, 2002, 116 Stat. 218; Pub. L. 108–357, title VI, § 612(d), Oct. 22, 2004, 118 Stat. 1524.)
- 1948Enacted · Act of June 29, 1948, ch. 704 · 62 Stat. 1072
- 1984Amended · Pub. L. 98-623 · 98 Stat. 3409
- 1996Amended · Pub. L. 104-127 · 110 Stat. 1016
- 2002Amended · Pub. L. 107-171 · 116 Stat. 218
- 2004Amended · Pub. L. 108-357 · 118 Stat. 1524
A history note hasn’t been published yet. The record shows enactment by ch. 704 on 1948-06-29.
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