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§ 1141. —  Declaration of policy; effective merchandising of agricultural commodities; speculation; cooperative marketing; surpluses; administration of chapter.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC1141]

 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER 7A--AGRICULTURAL MARKETING
 
Sec. 1141. Declaration of policy; effective merchandising of 
        agricultural commodities; speculation; cooperative marketing; 
        surpluses; administration of chapter
        
    (a) It is declared to be the policy of Congress to promote the 
effective merchandising of agricultural commodities in interstate and 
foreign commerce so that the industry of agriculture will be placed on a 
basis of economic equality with other industries, and to that end to 
protect, control, and stabilize the currents of interstate and foreign 
commerce in the marketing of agricultural commodities and their food 
products--
        (1) by minimizing speculation.
        (2) by preventing inefficient and wasteful methods of 
    distribution.
        (3) by encouraging the organization of producers into effective 
    associations or corporations under their own control for greater 
    unity of effort in marketing and by promoting the establishment and 
    financing of a farm marketing system of producer-owned and producer-
    controlled cooperative associations and other agencies.
        (4) by aiding in preventing and controlling surpluses in any 
    agricultural commodity, through orderly production and distribution, 
    so as to maintain advantageous domestic markets and prevent such 
    surpluses from causing undue and excessive fluctuations or 
    depressions in prices for the commodity.

    (b) There shall be considered as a surplus for the purposes of this 
chapter any seasonal or year's total surplus, produced in the United 
States and either local or national in extent, that is in excess of the 
requirements for the orderly distribution of the agricultural commodity 
or is in excess of the domestic requirements for such commodity.
    (c) The Farm Credit Administration shall execute the powers vested 
in it by this chapter only in such manner as will, in the judgment of 
the administration, aid to the fullest practicable extent in carrying 
out the policy above declared.

(June 15, 1929, ch. 24, Sec. 1, 46 Stat. 11; Ex. Ord. No. 6084, Mar. 27, 
1933.)

                          Codification

    Section was formerly classified to section 521 of Title 7, 
Agriculture.

                         Change of Name

    ``Farm Credit Administration'' and ``administration'' substituted in 
text for ``Federal Farm Loan Board'' and ``board'', respectively, 
pursuant to Ex. Ord. No. 6084, set out preceding section 2241 of this 
title.


                               Short Title

    For short title of this chapter as the Agricultural Marketing Act, 
see section 1141j(f) of this title.

                          Transfer of Functions

    Establishment of Farm Credit Administration as an independent 
agency, composition of Farm Credit Administration, appointment of 
Governor of Farm Credit Administration and duties thereof, including 
duty to perform functions, etc., of Farm Credit Administration, see 
section 2241 et seq. of this title.

                  Exceptions From Transfer of Functions

    Functions of Farm Credit Administration or any agency, officer, or 
entity of, under, or subject to supervision of said Administration 
excepted from functions of officers, agencies, and employees transferred 
to Secretary of Agriculture by Reorg. Plan No. 2 of 1953, Sec. 1, eff. 
June 4, 1953, 18 F.R. 3219, 67 Stat. 633, set out in the Appendix to 
Title 5, Government Organization and Employees.

                  Section Referred to in Other Sections

    This section is referred to in sections 1141b, 1141e of this title.



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