§ 1141d. — Revolving fund.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1141d]
TITLE 12--BANKS AND BANKING
CHAPTER 7A--AGRICULTURAL MARKETING
Sec. 1141d. Revolving fund
There is authorized to be appropriated the sum of $500,000,000 which
shall be made available by the Congress as soon as practicable after the
approval of this chapter and shall constitute a revolving fund to be
administered by the administration as provided in this chapter. Any and
all funds derived from the sale, lease, operation, or other disposition
of any property, real or personal, acquired by the United States on
account of or as a result of any loan made pursuant to the provisions of
this chapter, shall be covered into and become a part of said revolving
fund. Effective June 25, 1962, the sum authorized to be appropriated for
the aforesaid revolving fund as reduced from $500,000,000 to
$150,000,000 and any amount in said fund in excess of $150,000,000
(including any amount thereof used to purchase capital stock in the
central and regional banks for cooperatives) shall be credited to
miscellaneous receipts of the Treasury.
(June 15, 1929, ch. 24, Sec. 6, 46 Stat. 14; Ex. Ord. No. 6084, Mar. 27,
1933; June 16, 1933, ch. 98, title III, Secs. 33, 34, title IV,
Secs. 40, 41, 48 Stat. 262, 264; Aug. 19, 1937, ch. 704, Sec. 38, 50
Stat. 718; Pub. L. 87-494, June 25, 1962, 76 Stat. 109.)
Codification
Section was formerly classified to section 526 of Title 7,
Agriculture.
Amendments
1962--Pub. L. 87-494 reduced sum authorized to be appropriated to
$150,000,000.
1937--Act Aug. 19, 1937, inserted second sentence.
1933--Act June 16, 1933, amended provision pertaining to
administration of the fund.
Change of Name
``Administration'' substituted in text for ``board'' pursuant to Ex.
Ord. No. 6084, set out preceding section 2241 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, 1141d-1 of this
title.
