7 U.S.C. § 1037 — Sale of reserved mineral interests; disposition of proceedsreserved

submitted 76 years ago by ch. 897 to r/title-7-AGRICULTURE · 74 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section covers sale of reserved mineral interests; disposition of proceeds. All proceeds from sales made under sections 1033 to 1039 of this title of mineral interests described in section 1033 of this title shall be covered into the Treasury of the United States as miscellaneous receipts, except that the proceeds from sales of mineral interests which were a part of or derived from the assets transferred pursuant to the transfer agreements with State rural rehabilitation corporations shall be credited to the appropriate corporation account.

All proceeds from sales made under sections 1033 to 1039 of this title of mineral interests described in section 1033 of this title must be covered into the Treasury of the United States as miscellaneous receipts, except that the proceeds from sales of mineral interests which were a part of or derived from the assets transferred under the transfer agreements with State rural rehabilitation corporations must be credited to the appropriate corporation account.

the actual law source: uscode.house.gov ↗public domain

All proceeds from sales made under sections 1033 to 1039 of this title of mineral interests described in section 1033 of this title shall be covered into the Treasury of the United States as miscellaneous receipts, except that the proceeds from sales of mineral interests which were a part of or derived from the assets transferred pursuant to the transfer agreements with State rural rehabilitation corporations shall be credited to the appropriate corporation account.

Source credit: (Sept. 6, 1950, ch. 897, § 5, 64 Stat. 770.)

history & why it existsrecord from the source credit

1950Enacted · Act of Sept. 6, 1950, ch. 897 · 64 Stat. 770

A history note hasn’t been published yet. The record shows enactment by ch. 897 on 1950-09-06.

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