15 U.S.C. § 714e

Capital stock; amount; interest

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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 March 8, 1938 (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.

Notes of Decisions

Cited in 7 cases, 1957–1990 · leading case: Gibson v. United States, 11 Cl. Ct. 6 (Ct. Cl. 1986).

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Gibson v. United States, 11 Cl. Ct. 6 (Ct. Cl. 1986). “See 15 U.S.C. § 714e (1982). It was created, inter alia, to stabilize, support, and protect farm income and prices and to assist in the maintenance of a balanced supply of agricultural commodities.”

United States v. Bisson, 646 F. Supp. 701 (D.S.D. 1986). “15 U.S.C. § 714e. It was created by Congress “for the purpose of stabilizing, supporting and protecting farm income and prices____” Id.”

Alimenta (USA), Inc. v. Block, 636 F. Supp. 850 (N.D. Ga. 1986). “The Court notes that all capital stock of the CCC is held by the United States, 15 U.S.C. § 714e; any net loss incurred by the corporation is reimbursed from the federal treasury, id.”

United States v. Anasae Int'l Corp., 197 F. Supp. 926 (S.D.N.Y. 1961). “03, and now seeks to recover said amount, which defendant has failed and refused to pay.”

United States v. Rainwater, 244 F.2d 27 (8th Cir. 1957). “15 U.S.C.A. § 714e. The Secretary of the Treasury must make an annual appraisal of the net worth of Commodity Credit Corporation and if the net worth is less than $100,000,000.”

Gulf Coast Rice Producers Ass'n v. Block, 617 F. Supp. 229 (S.D. Tex. 1985). “Although Section 714b(c) vests the federal district courts with exclusive jurisdiction of all suits brought by or against Commodity, regardless of the amount in controversy, this broad grant is circumscribed where suit is brought by or against the United States as the real party…”

Auth. of the Fed. Fin. Bank to Provide Loans to the Resolution Trust Corp. (OLC 1990). “§ 635b (1970) ($1,000,000,000 for Export-Import Bank); 15 U.S.C. § 714e (1970) ($100,000,000 for Commodity Credit Corporation), and at least three received direct appropriations.”

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