§ 658. — Property mortgaged or pledged to farm credit agencies.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 18USC658]
TITLE 18--CRIMES AND CRIMINAL PROCEDURE
PART I--CRIMES
CHAPTER 31--EMBEZZLEMENT AND THEFT
Sec. 658. Property mortgaged or pledged to farm credit agencies
Whoever, with intent to defraud, knowingly conceals, removes,
disposes of, or converts to his own use or to that of another, any
property mortgaged or pledged to, or held by, the Farm Credit
Administration, any Federal intermediate credit bank, or the Federal
Crop Insurance Corporation, the Secretary of Agriculture acting through
the Farmers Home Administration or successor agency, the Rural
Development Administration or successor agency, any production credit
association organized under sections 1131-1134m of Title 12, any
regional agricultural credit corporation, or any bank for cooperatives,
shall be fined under this title or imprisoned not more than five years,
or both; but if the value of such property does not exceed $1,000, he
shall be fined under this title or imprisoned not more than one year, or
both.
(June 25, 1948, ch. 645, 62 Stat. 729; May 24, 1949, ch. 139, Sec. 12,
63 Stat. 91; Oct. 31, 1951, ch. 655, Sec. 21, 65 Stat. 718; July 26,
1956, ch. 741, title I, Sec. 109, 70 Stat. 667; Pub. L. 87-353,
Sec. 3(r), Oct. 4, 1961, 75 Stat. 774; Pub. L. 101-624, title XXIII,
Sec. 2303(e), Nov. 28, 1990, 104 Stat. 3981; Pub. L. 103-322, title
XXXIII, Secs. 330004(7), 330016(1)(H), (K), Sept. 13, 1994, 108 Stat.
2141, 2147; Pub. L. 104-294, title VI, Sec. 606(a), Oct. 11, 1996, 110
Stat. 3511; Pub. L. 106-78, title VII, Sec. 767, Oct. 22, 1999, 113
Stat. 1174.)
Historical and Revision Notes
1948 Act
Based on sections 1026(c) and 1514(d) of title 7, U.S.C., 1940 ed.,
Agriculture, and section 1138d(d) of title 12, U.S.C., 1940 ed., Banks
and Banking (June 16, 1933, ch. 98, Sec. 64, 48 Stat. 269; Jan. 31,
1934, ch. 7, Sec. 13, 48 Stat. 347; July 22, 1937, ch. 517, title IV,
Sec. 52(c), 50 Stat. 532; Feb. 16, 1938, ch. 30, title V, Sec. 514(d),
52 Stat. 76; Aug. 14, 1946, ch. 964, Sec. 3, 60 Stat. 1064).
To avoid reference to another section the words ``the Farm Credit
Administration, any Federal intermediate credit bank, the Federal Farm
Mortgage Corporation, Federal Crop Insurance Corporation, Farmers' Home
Corporation, or any production credit corporation or corporation in
which a production credit corporation holds stock, any regional
agricultural credit corporation, or any bank for cooperatives'' were
substituted for the words ``or any corporation referred to in subsection
(a) of this section.''
The punishment provision was completely rewritten. The $2,000 fine
of section 1026(c) of title 7, U.S.C., 1940 ed., and the 2-year penalty
of that section, section 1514(d) of title 7, U.S.C., 1940 ed., and
section 1138(d) of title 12, U.S.C., 1940 ed., were incongruous in
juxtaposition with other sections of this chapter and were therefore
increased to $5,000 and 5 years. (See sections 656 and 657 of this
title.)
The smaller punishment for an offense involving $100 or less was
added. (See reviser's notes under sections 641 and 645 of this title.)
Minor changes were made in phraseology.
1949 Act
[Section 12] conforms section 658 of title 18 U.S.C., to
administrative practice which in turn was modified to comply with
congressional policy. (See note to sec. 11 [of 1949 Act, set out in
Legislative History note under section 657 of title 18]).
References in Text
Section 1131 of Title 12, included within the reference to sections
1131 to 1134m of Title 12, was repealed by Pub. L. 89-554, Sec. 8(a),
Sept. 6, 1966, 80 Stat. 648.
Sections 1131a, 1131c to 1131g, 1131g-2 to 1131i, 1134 to 1134m of
Title 12, included within the reference to sections 1131 to 1134m of
Title 12, were repealed by Pub. L. 92-181, title V, Sec. 5.26(a), Dec.
10, 1971, 85 Stat. 624.
Sections 1131a-1 and 1131j of Title 12, included within the
reference to sections 1131 to 1134m of Title 12, are omitted from the
Code. Section 1131a-1 of Title 12, was from the Department of
Agriculture and Farm Credit Administration Appropriation Act, 1957, and
was not repeated in subsequent appropriation acts. Section 1131j was
covered by former section 1131g-2 of Title 12, prior to its repeal by
Pub. L. 92-181, title V, Sec. 5.26(a), Dec. 10, 1971, 85 Stat. 624.
Sections 1131b and 1131g-1 of Title 12, included within the
reference to sections 1131 to 1134m of Title 12, were repealed by act
July 26, 1956, ch. 741, title 1, Sec. 105(c), (q), 70 Stat. 665, 666.
Amendments
1999--Pub. L. 106-78 inserted ``or successor agency'' after
``Farmers Home Administration'' and after ``Rural Development
Administration''.
1996--Pub. L. 104-294 substituted ``$1,000'' for ``$100''.
1994--Pub. L. 103-322, Sec. 330016(1)(H), (K), substituted ``fined
under this title'' for ``fined not more than $5,000'' after
``cooperatives, shall be'' and for ``fined not more than $1,000'' after
``he shall be''.
Pub. L. 103-322, Sec. 330004(7), struck out ``Farmers' Home
Corporation,'' after ``Crop Insurance Corporation,''.
1990--Pub. L. 101-624 substituted ``Farmers Home Administration, the
Rural Development Administration'' for ``Farmers' Home Administration''.
1961--Pub. L. 87-353 struck out reference to the Federal Farm
Mortgage Corporation.
1956--Act July 26, 1956, struck out property of any production
credit association in which a Production Credit Corporation holds stock.
1951--Act Oct. 31, 1951, covered all production credit associations
instead of only those in which a Production Credit Corporation holds
stock.
1949--Act May 24, 1949, made section applicable to the Secretary of
Agriculture acting through the Farmers' Home Administration.
Effective Date of 1956 Amendment
Amendment by act July 26, 1956, effective January 1, 1957, see
section 202(a) of act July 26, 1956.
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 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.
Farm Credit Administration
Establishment of Farm Credit Administration as independent agency,
and other changes in status, functions, etc., see Ex. Ord. No. 6084 set
out preceding section 2241 of Title 12, Banks and Banking. See also
section 2001 et seq. of Title 12.
Section Referred to in Other Sections
This section is referred to in section 1956 of this title.
