§ 713a-6. — Sale of surplus agricultural commodities to foreign governments.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC713a-6]
TITLE 15--COMMERCE AND TRADE
CHAPTER 15--ECONOMIC RECOVERY
SUBCHAPTER I--GENERALLY
Sec. 713a-6. Sale of surplus agricultural commodities to foreign
governments
Notwithstanding any other provision of law, the Commodity Credit
Corporation, with the approval of the President, is authorized to sell
surplus agricultural commodities, acquired by such Corporation through
its loan operations, to foreign governments on the condition that,
except for rotation to prevent deterioration, such commodities shall be
held in reserve by such governments for a period of not less than five
years from the date of acquisition, and shall not be disposed of unless
a war or war emergency results in a serious interruption of normal
supplies of such commodities: Provided, That under this section no
concession below the prevailing world market price for the unrestricted
use of such commodities, as determined by the Secretary of Agriculture,
shall be granted, in consideration of the obligation assumed by such
governments to hold such commodities in reserve as required
hereinbefore, in excess of a maximum amount equal to the average
carrying charges, as estimated by the Secretary of Agriculture, that
would be incurred if such commodities should be held for an additional
eighteen months' period by the Commodity Credit Corporation. In
determining specific cotton to be sold under this section, the
determination shall be made by sampling and selection at the place where
the cotton is stored on the date of signing any sales agreement or
contract under this section, and no cotton shall be sold under any such
sales agreement or contract which, after such date, is transported to
any other place and there sampled and selected: Provided further, That
in case of a sale, settlement must be made within sixty days after
delivery and not more than five hundred thousand bales of cotton shall
be sold upon the terms and conditions provided in this section.
(Aug. 11, 1939, ch. 701, 53 Stat. 1418.)
Exceptions From Transfer of Functions
For exception of functions of corporations of Department of
Agriculture from transfer of functions to Secretary of Agriculture by
Reorg. Plan No. 2 of 1953, see Exceptions From Transfer of Functions
note set out under section 712a of this title.
