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7 U.S.C. § 1967Addition to Emergency Credit Revolving Fund of sums from liquidation of loans; authorization of appropriations

submitted 65 years ago by Pub. L. 87-128 to r/title-7-AGRICULTURE · 94 words · no verdicts yet

in plain englishAI-generated · not legal advice

Money recovered from liquidated loans or other assets bought with Emergency Credit Revolving Fund money goes back into that fund. Congress may authorize additional money for the fund.

(a) All money the Secretary receives from liquidating loans made under this subchapter, the amended Act of April 6, 1949, or the Act of August 31, 1954, and from liquidating other assets bought with Emergency Credit Revolving Fund money, must be added to the fund. (b) Congress may authorize whatever additional amounts it later decides are necessary for the fund.
the actual law source: uscode.house.gov ↗public domain
(a)

All sums received by the Secretary from the liquidation of loans made under the provisions of this subchapter or under the Act of April 6, 1949, as amended, or the Act of August 31, 1954, and from the liquidation of any other assets acquired with money from the Emergency Credit Revolving Fund shall be added to and become a part of such fund.

(b)

There are authorized to be appropriated to the Emergency Credit Revolving Fund such additional sums as the Congress shall from time to time determine to be necessary.

Source credit: (Pub. L. 87–128, title III, § 327, Aug. 8, 1961, 75 Stat. 312.)

history & why it existsrecord from the source credit
  • 1961Enacted · Pub. L. 87-128 · 75 Stat. 312

A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-128 on 1961-08-08.

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