§ 1401 to 1407. — Omitted.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC1401]
TITLE 7--AGRICULTURE
CHAPTER 35--AGRICULTURAL ADJUSTMENT ACT OF 1938
SUBCHAPTER III--COTTON POOL PARTICIPATION TRUST CERTIFICATES
Secs. 1401 to 1407. Omitted
Codification
Section 1401, act Feb. 16, 1938, ch. 30, title IV, Sec. 401, 52
Stat. 70, authorized an appropriation of $1,800,000 to accomplish the
purposes declared in former provisions of this subchapter and provided
for payments by Secretary of Treasury upon order of Secretary of
Agriculture.
Section 1402, act Feb. 16, 1938, ch. 30, title IV, Sec. 402, 52
Stat. 70, provided for deposit of appropriation to credit of the
Secretary of Agriculture for disbursement for purposes stated in former
provisions of this subchapter.
Section 1403, acts Feb. 16, 1938, ch. 30, title IV, Sec. 403, 52
Stat. 70; Apr. 7, 1938, ch. 107, Sec. 13, 52 Stat. 204, provided
allotment of funds to manager of cotton pool for purchase of pool
participation trust certificates, to be tendered by lawful holder and
owner thereof on or before May 1, 1938, at rate of $1 per five-hundred-
pound bale, payment of costs and expenses incident to such purchases and
covering into the Treasury as miscellaneous receipts balance remaining
at expiration of purchase period.
Section 1404, acts Feb. 16, 1938, ch. 30, title IV, Sec. 404, 52
Stat. 71; Apr. 7, 1938, ch. 107, Sec. 14, 52 Stat. 204, extended the
time limit for purchase of outstanding pool participation certificates
to and including July 31, 1938, authorized issuance of rules and
regulations and prohibited purchases from other than record holders on
or before May 1, 1938.
Section 1404a, acts June 16, 1938, ch. 464, title I, 52 Stat. 747;
Apr. 5, 1939, ch. 44, 53 Stat. 572, extended the time limit for purchase
of certificates to and including Sept. 30, 1939 and made the date of May
1, 1938 inapplicable.
Section 1404b, act June 16, 1938, ch. 464, title I, 52 Stat. 747,
provided for issuance of regulations for payments on participation trust
certificates in case of death, incompetence or disappearance of payee.
Section 1405, act Feb. 16, 1938, ch. 30, title IV, Sec. 405, 52
Stat. 71, authorized continuance of 1933 cotton producers pool as long
as necessary to effectuate purposes of former provisions of this
subchapter and use of funds for payment of expenses.
Section 1406, act Feb. 16, 1938, ch. 30, title IV, Sec. 406, 52
Stat. 71, prohibited purchase of certificates after expiration of time
limit.
Section 1407, acts Feb. 16, 1938, ch. 30, title IV, Sec. 407, 52
Stat. 71; Apr. 7, 1938, ch. 107, Sec. 15, 52 Stat. 204, provided for
payment by assignee of certificate transferred subsequent to May 1,
1937, limited to the purchase price paid by the assignee, with interest
at rate of four per centum from date of purchase, not exceeding an
amount of $1 per bale, payment to be based upon affidavit of assignee.
Inapplicability of Subchapter
Subchapter, with the exception of former sections 1404a and 1404b,
inapplicable to 2002 through 2007 crops of covered commodities, peanuts,
and sugar and inapplicable to milk during period beginning May 13, 2002,
through Dec. 31, 2007, see section 7992(a)(4) of this title.
Subchapter, with the exception of former sections 1404a and 1404b,
inapplicable to 1996 through 2001 crops of loan commodities, peanuts,
and sugar and inapplicable to milk during period beginning Apr. 4, 1996,
and ending Dec. 31, 2002, see section 7301(a)(1)(I) of this title.
Settlement of Certain Claims and Accounts
Act June 5, 1942, ch. 349, Secs. 2, 3, 56 Stat. 324, authorized
Comptroller General to relieve disbursing and certifying officers from
liability for payments made under former provisions of this subchapter
upon certificate of Secretary of Agriculture that such payments were
made in good faith, and also provided that no action should be taken to
recover such excess payments, if the Secretary of Agriculture should
further certify that, in view of the good faith of the parties or other
circumstances of the case, such attempt to recover them would be
inadvisable or inequitable.
