§ 1510. — Deposit and investment of funds; Federal Reserve banks as fiscal agents.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC1510]
TITLE 7--AGRICULTURE
CHAPTER 36--CROP INSURANCE
Sec. 1510. Deposit and investment of funds; Federal Reserve
banks as fiscal agents
All money of the Corporation not otherwise employed may be deposited
with the Treasurer of the United States or in any bank approved by the
Secretary of the Treasury, subject to withdrawal by the Corporation at
any time, or with the approval of the Secretary of the Treasury may be
invested in obligations of the United States or in obligations
guaranteed as to principal and interest by the United States. Subject to
the approval of the Secretary of the Treasury, the Federal Reserve banks
are hereby authorized and directed to act as depositories, custodians,
and fiscal agents for the Corporation in the performance of its powers
conferred by this chapter.
(Feb. 16, 1938, ch. 30, title V, Sec. 510, 52 Stat. 75.)
Transfer of Functions
Administration of program of Federal Crop Insurance Corporation
transferred to Secretary of Agriculture by 1946 Reorg. Plan No. 3,
Sec. 501, eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100. See note set
out under section 1503 of this title.
Wartime consolidation of Federal Crop Insurance Corporation into
Agricultural Conservation and Adjustment Administration, see note set
out under section 1503 of this title.
