7 U.S.C. § 1383 — Insurance of cotton; reconcentration

Page 695 TITLE 7—AGRICULTURE § 1383a Section 1380j, act Feb. 16, 1938, ch. 30, title III, § 380j, as added May 28, 1956, ch. 327, title V, § 501(3), 70 Stat. 210, related to exemptions from provisions of this part. Section 1380k, act Feb. 16, 1938, ch. 30, title III, § 380k, as added May 28, 1956, ch. 327, title V, § 501(3), 70 Stat. 210, related to rice processing restrictions. Section 1380l, act Feb. 16, 1938, ch. 30, title III, § 380l, as added May 28, 1956, ch. 327, title V, § 501(3), 70 Stat. 211, related to rice import restrictions. Section 1380m, act Feb. 16, 1938, ch. 30, title III, § 380m, as added May 28, 1956, ch. 327, title V, § 501(3), 70 Stat. 211, directed the Secretary to prescribe regula- tions governing the issuance, redemption, acquisition, use, transfer, and disposition of certificates. Section 1380n, act Feb. 16, 1938, ch. 30, title III, § 380n, as added May 28, 1956, ch 327, title V, § 501(3), 70 Stat. 211, related to penalties for violations of import and processing restrictions of this part or regulations pre- scribed by the Secretary for enforcing such provisions. Section 1380o, act Feb. 16, 1938, ch. 30, title III, § 380o, as added May 28, 1956, ch. 327, title V, § 501(3), 70 Stat. 211, related to reports and records. Section 1380p, act Feb. 16, 1938, ch. 30, title III, § 380p, as added May 28, 1956, ch. 327, title V, § 501(3), 70 Stat. 211, defined ‘‘cooperator’’, ‘‘processing of rough rice’’, ‘‘processed rice’’, ‘‘United States’’, ‘‘exporter’’, ‘‘rough rice equivalent’’, and ‘‘import’’, for purposes of this part. PART F—MISCELLANEOUS PROVISIONS AND APPROPRIATIONS Editorial Notes CODIFICATION Pub. L. 87–703, title III, § 324(1), Sept. 27, 1962, 76 Stat. 626, redesignated part E as F. Act May 28, 1956, ch. 327, title V, § 501(2), 70 Stat. 208, redesignated part D as E. SUBPART I—MISCELLANEOUS §§ 1381 to 1382. Omitted Editorial Notes CODIFICATION Section 1381, acts Feb. 16, 1938, ch. 30, title III, § 381, 52 Stat. 66; Apr. 7, 1938, ch. 107, § 12, 52 Stat. 204, related to cotton price adjustment payments with respect to 1937 cotton crop, and to transfer of pledged cotton of 1937 crop to Commodity Credit Corporation. Subsec. (c) of section 1381, which authorized sale of pledged cotton by Commodity Credit Corporation, was repealed by act July 3, 1948, ch. 827, title II, § 202(b), 62 Stat. 1255. Section 1381a, act June 16, 1938, ch. 464, title I, 52 Stat. 745, which was not a part of the Agricultural Ad- justment Act of 1938, related only to payments for 1937 crops. Section 1382, act Feb. 16, 1938, ch. 30, title III, § 382, 52 Stat. 67, required the Commodity Credit Corporation to provide for the extension, from July 31, 1938, to July 31, 1939, of 1937 cotton loan. § 1383. Insurance of cotton; reconcentration (a) The Commodity Credit Corporation shall place all insurance of every nature taken out by it on cotton, and all renewals, extensions, or continuations of existing insurance, with insur- ance agents who are bonafide residents of and doing business in the State where the cotton is warehoused: Provided, That such insurance may be secured at a cost not greater than similar in- surance offered on said cotton elsewhere. (b) Cotton held as security for any loan here- tofore or hereafter made or arranged for by the Commodity Credit Corporation shall not here- after be reconcentrated without the written con- sent of the producer or borrower. (Feb. 16, 1938, ch. 30, title III, § 383, 52 Stat. 67.) Executive Documents TRANSFER OF FUNCTIONS Administration of program of Commodity Credit Cor- poration transferred to Secretary of Agriculture by 1946 Reorg. Plan No. 3, § 501, eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100, set out in the Appendix to Title 5, Govern- ment Organization and Employees. EXCEPTIONS FROM TRANSFER OF FUNCTIONS Functions of Corporations of Department of Agri- culture, boards of directors and officers of such cor- porations; Advisory Board of Commodity Credit Cor- poration; and Farm Credit Administration or any agen- cy, officer, or entity of, under, or subject to supervision of said Administration excepted from functions of offi- cers, agencies, and employees transferred to Secretary of Agriculture by 1953 Reorg. Plan No. 2, § 1, effective June 4, 1953, 18 F.R. 3219, 67 Stat. 633, set out as a note under section 2201 of this title. § 1383a. Written consent for reconcentration of cotton In the administration of section 1383(b) of this title the written consent of the producer or bor- rower to the reconcentration of any cotton held as security for any loan heretofore or hereafter made or arranged for by the Commodity Credit Corporation shall not be deemed to have been given unless such consent shall have been given in an instrument made solely for that purpose. Notwithstanding any provision of any loan agreement heretofore made, no cotton held under any such agreement as security for any such loan shall be moved from one warehouse to another unless the written consent of the pro- ducer or borrower shall have been obtained in a separate instrument given solely for that pur- pose, as required by this section. The giving of written consent for the reconcentration of cot- ton shall not be made a condition upon the mak- ing of any loan hereafter made or arranged for by the Commodity Credit Corporation: Provided, however, That in cases where there is congestion and lack of storage facilities, and the local warehouse certifies such fact and requests the Commodity Credit Corporation to move the cot- ton for reconcentration to some other point, or when the Commodity Credit Corporation deter- mines such loan cotton is improperly warehoused and subject to damage, or if unin- sured, or if any of the terms of the loan agree- ment are violated, or if carrying charges are substantially in excess of the average of car- rying charges available elsewhere, and the local warehouse, after notice, declines to reduce such charges, such written consent as provided in this section need not be obtained; and consent to movement under any of the conditions of this proviso may be required in future loan agree- ments. (June 16, 1938, ch. 480, 52 Stat. 762.) Editorial Notes CODIFICATION Section was not enacted as part of the Agricultural Adjustment Act of 1938 which comprises this chapter.