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15 U.S.C. § 714nTransfer of assets of Commodity Credit Corporation, a Delaware corporation

submitted 78 years ago by ch. 704 to r/title-15-COMMERCE-AND-TRADE · 113 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about Transfer of assets of Commodity Credit Corporation, a Delaware corporation. It states the duties, powers, limits, or definitions described in the section.

The assets, funds, property, and records of Commodity Credit Corporation, a Delaware corporation, are transferred to the Corporation. The rights, privileges, and powers, and the duties and liabilities of Commodity Credit Corporation, a Delaware corporation, in respect to any contract, agreement, loan, account, or other obligation must become the rights, privileges, and powers, and the duties and liabilities, respectively, of the Corporation. The enforceable claims of or against Commodity Credit Corporation, a Delaware corporation, must become the claims of or against, and may be enforced by or against, the Corporation: However , That nothing in this subchapter must limit or extend any period of limitation otherwise applicable to such claims against the Corporation.
the actual law source: uscode.house.gov ↗public domain

The assets, funds, property, and records of Commodity Credit Corporation, a Delaware corporation, are transferred to the Corporation. The rights, privileges, and powers, and the duties and liabilities of Commodity Credit Corporation, a Delaware corporation, in respect to any contract, agreement, loan, account, or other obligation shall become the rights, privileges, and powers, and the duties and liabilities, respectively, of the Corporation. The enforceable claims of or against Commodity Credit Corporation, a Delaware corporation, shall become the claims of or against, and may be enforced by or against, the Corporation: Provided, That nothing in this subchapter shall limit or extend any period of limitation otherwise applicable to such claims against the Corporation.

Source credit: (June 29, 1948, ch. 704, § 16, 62 Stat. 1075.)

history & why it existsrecord from the source credit
  • 1948Enacted · Act of June 29, 1948, ch. 704 · 62 Stat. 1075

A history note hasn’t been published yet. The record shows enactment by ch. 704 on 1948-06-29.

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