Title 15 — Commerce and Trade
Chapter 15 — Economic Recovery
§ 714e. Capital stock; amount; interest
Statutory text
The Corporation shall have a capital stock of $100,000,000 which shall be subscribed by the United States. Such subscription shall be deemed to be fully paid by the transfer of assets to the Corporation pursuant to section 714n of this title. The Corporation shall pay interest to the United States Treasury on the amount of its capital stock, and on the amount of the obligations of the Corporation purchased by the Secretary of the Treasury pursuant to the Act of (U.S.C., title 15, sec. 713a–4), as amended, at such rates as may be determined by the Secretary of the Treasury to be appropriate in view of the terms for which such amounts are made available to the Corporation.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 80–704 § 7 · 62 Stat. 1070
Enacted · 15 U.S.C. § 714e
(June 29, 1948, ch. 704, § 7, 62 Stat. 1072.)
Source evidence
Code source credit
(June 29, 1948, ch. 704, § 7, 62 Stat. 1072.)Enacted provision · exact public law section
Sec. 7. Capital Stock.— The Corporation shall have a capital stock of $100,000,000 which shall be subscribed by the United States. Such subscription shall be deemed to be fully paid by the transfer of assets to the Post, p. 1075. Interest. Corporation pursuant to section 16 of this Act. The Corporation shall pay interest to the United States Treasury on the amount of its capital stock, and on the amount of the obligations of the Corporation purchased by the Secretary of the Treasury pursuant to the Act of March 8, 1938 (U. S. C., title 15, sec. 713a–4), as amended, at 52 Stat. 108. 15 U. S. C., Supp. I, § 713a–4 note. such rates as may be determined by the Secretary of the Treasury to be appropriate in view of the terms for which such amounts are made available to the Corporation.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
Act of , referred to in text, is act Mar. 8, 1938, ch. 44, §§ 1–5, 52 Stat. 107, which was classified to sections 713a–1 to 713a–5 of this title. Sections 713a–1 and 713a–2 were repealed by Pub. L. 87–155, § 1, , 75 Stat. 391, and section 713a–3 was omitted from the Code.
Executive Documents
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.
Credits
(June 29, 1948, ch. 704, § 7, 62 Stat. 1072.)