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§ 1404. —  Authorization of appropriations; 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: 12USC1404]

 
                       TITLE 12--BANKS AND BANKING
 
   CHAPTER 10--LOCAL AGRICULTURAL-CREDIT CORPORATIONS, LIVESTOCK-LOAN 
    COMPANIES AND LIKE ORGANIZATIONS; LOANS TO INDIVIDUALS TO AID IN 
                 FORMATION OR TO INCREASE CAPITAL STOCK
 
Sec. 1404. Authorization of appropriations; revolving fund

    To carry out the provisions of this chapter, including all expenses 
incurred thereunder, there are authorized to be appropriated, out of the 
unexpended balances of appropriations made to carry out the provisions 
of Public Resolution Numbered 112, Seventy-first Congress (46 Stat. 
1032), as amended by the Interior Department Appropriation Act for the 
fiscal year ending June 30, 1932, and as amended by Public Resolution 
Numbered 120 (46 Stat. 1167), and out of the collections from loans made 
under Public Resolution Numbered 112, as so amended, a sum not exceeding 
$10,000,000, which sum shall be paid into a revolving fund. Not to 
exceed 2 per centum of such fund may be used for expenses of 
administration. All moneys received from time to time upon the repayment 
of any advance or loan made pursuant to this chapter, together with the 
interest, shall be paid into the revolving fund and shall thereafter be 
available for the purposes and in the manner hereinbefore provided.

(Mar. 3, 1932, ch. 70, Sec. 4, 47 Stat. 60.)



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