§ 395. — Federal reserve banks as depositaries, custodians and fiscal agents for Commodity Credit Corporation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC395]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER XI--DEPOSITARIES AND FISCAL AGENTS
Sec. 395. Federal reserve banks as depositaries, custodians and
fiscal agents for Commodity Credit Corporation
The Federal Reserve banks are authorized to act as depositaries,
custodians, and fiscal agents for the Commodity Credit Corporation.
(July 16, 1943, ch. 241, Sec. 3, 57 Stat. 566.)
Transfer of Functions
Administration of program of Commodity Credit Corporation
transferred to Secretary of Agriculture by Reorg. Plan No. 3 of 1946,
Sec. 501, eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100. See Appendix
to Title 5, Government Organization and Employees.
Exceptions From Transfer of Functions
Functions of Corporations of Department of Agriculture, boards of
directors and officers of such corporations, Advisory Board of Commodity
Credit Corporation, and Farm Credit Administration or any agency,
officer or entity of, under, or subject to supervision of Administration
were 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.
