Editorial Notes
Amendments
1994—Subsec. (a). Pub. L. 103–354, § 102(b)(2)(A), (4)(C), struck out “of Agriculture” after “Secretary” and “of Directors of the Corporation” after “Board”.
Subsec. (d). Pub. L. 103–354, § 102(b)(2)(B), struck out “Federal Crop Insurance” before “Corporation outstanding”.
1980—Subsec. (a). Pub. L. 96–365, § 101(a), substituted “$500,000,000” for “$200,000,000”.
Subsec. (d). Pub. L. 96–365, § 101(b), added subsec. (d).
1977—Subsec. (a). Pub. L. 95–181 substituted “$200,000,000” for “$150,000,000”.
Pub. L. 95–47 substituted “$150,000,000” for “$100,000,000”.
1949—Subsec. (a). Act Aug. 25, 1949, § 4, struck out second sentence relating to restoration of impairment of capital stock.
Subsec. (b). Act Aug. 25, 1949, § 6, authorized appropriations for subscribing to corporation’s capital stock in order to offset losses suffered prior to time program was placed on an experimental basis in 1947.
Statutory Notes and Related Subsidiaries
Effective Date of 1980 Amendment
Pub. L. 96–365, title I, § 112, Sept. 26, 1980, 94 Stat. 1319, provided that:
“Except as otherwise provided in this Act, the provisions of this Act amending the
Federal Crop Insurance Act [amending sections
1504,
1505 to
1507,
1508, and
1518 of this title and repealing
section 1515 of this title] shall become effective on the date of enactment of this Act [
Sept. 26, 1980].”
Pub. L. 96–365, title I, § 101(a), Sept. 26, 1980, 94 Stat. 1312, provided that the amendment made by section 101(a) is effective Oct. 1, 1980.
Cancellation of Outstanding Receipts for Stock in Excess of $27,000,000
Act Aug. 25, 1949, ch. 512, § 5, 63 Stat. 665, provided that:
“The
Secretary of the Treasury is authorized and directed to cancel, without consideration, outstanding receipts for payments for or on account of the stock of the
Corporation in excess of $27,000,000.”
Institution of Expanded Program; Payment of Cost for Fiscal Year 1950
Act Aug. 25, 1949, ch. 512, § 11, 63 Stat. 666, provided that:
“The expanded program authorized herein [sections
1504,
1505,
1506,
1507, and
1508 of this title] shall be instituted beginning with the 1950 crop year, the additional cost for fiscal year 1950 to be financed, pending the appropriation of supplemental funds, from any appropriation available for operating and administrative expenses of the
Corporation for such fiscal year.”
Executive Documents