18 U.S.C. § 433 — Exemptions with respect to certain contracts

This section carves out exceptions to sections 431 and 432 of this title (which restrict certain government contracting). Three groups of contracts don't have to follow those two sections. First, contracts made or accepted by an incorporated company for its own general benefit are exempt. Second, the exemption covers buying or selling "bills of exchange" or other property when the property is ready for delivery and payment happens right when the deal is made. Third, sections 431 and 432 do not apply to advances, loans, discounts, purchase or repurchase agreements, extensions, or renewals of these, or to releasing or replacing security for them, when they are made under a specific list of laws: the Reconstruction Finance Corporation Act, the Agricultural Adjustment Act, the Federal Farm Loan Act, the Emergency Farm Mortgage Act of 1933, the Farm Credit Act of 1933, the Home Owners Loan Act of 1933, the Farmers' Home Administration Act of 1946, and the Bankhead-Jones Farm Tenant Act. Crop insurance agreements, and other contracts the Secretary of Agriculture may make with farmers, are exempt too. Finally, whenever someone uses one of these exemptions, that fact must be made "a matter of public record" - it cannot be kept secret.