7 U.S.C. § 1506
General powers
The Corporation shall have succession in its corporate name.
The Corporation may adopt, alter, and use a corporate seal, which shall be judicially noticed.
The Corporation may purchase or lease and hold such real and personal property as it deems necessary or convenient in the transaction of its business, and may dispose of such property held by it upon such terms as it deems appropriate.
Subject to section 1508(j)(2)(A) of this title, the Corporation, subject to the provisions of section 1508(j) of this title,1
The Corporation may adopt, amend, and repeal bylaws, rules, and regulations governing the manner in which its business may be conducted and the powers granted to it by law may be exercised and enjoyed.
The Corporation shall be entitled to the use of the United States mails in the same manner as the other executive agencies of the Government.
The Corporation, with the consent of any board, commission, independent establishment, or executive department of the Government, including any field service thereof, may avail itself of the use of information, services, facilities, officials, and employees thereof in carrying out the provisions of this subchapter.
The Corporation may conduct surveys and investigations relating to crop insurance, agriculture-related risks and losses, and other issues related to carrying out this subchapter.
The Corporation shall assemble data for the purpose of establishing sound actuarial bases for insurance on agricultural commodities.
Notwithstanding section 1502(c) of this title, records submitted in accordance with this subchapter and section 7333 of this title shall be available to agencies and local offices of the Department, appropriate State and Federal agencies and divisions, applicants who have received payment under section 1522(b)(2)(E) of this title, and approved insurance providers for use in carrying out this subchapter, such section 7333 of this title, and other agricultural programs.
The Corporation shall determine the character and necessity for its expenditures under this subchapter and the manner in which they shall be incurred, allowed, and paid, without regard to the provisions of any other laws governing the expenditure of public funds and such determinations shall be final and conclusive upon all other officers of the Government.
The Corporation shall have the authority to make final and conclusive settlement and adjustment of any claim by or against the Corporation or a fiscal officer of the Corporation.
The Corporation shall have such powers as may be necessary or appropriate for the exercise of the powers herein specifically conferred upon the Corporation and all such incidental powers as are customary in corporations generally.
The Corporation may enter into and carry out contracts or agreements, and issue regulations, necessary in the conduct of its business, as determined by the Board. State and local laws or rules shall not apply to contracts, agreements, or regulations of the Corporation or the parties thereto to the extent that such contracts, agreements, or regulations provide that such laws or rules shall not apply, or to the extent that such laws or rules are inconsistent with such contracts, agreements, or regulations.
The Corporation shall require, as a condition of eligibility for participation in the multiple peril crop insurance program, submission of social security account numbers, subject to the requirements of section 405(c)(2)(C)(iii) 2 of title 42, and employer identification numbers, subject to the requirements of section 6109(f) of title 26.
Each policyholder shall notify each individual or other entity that acquires or holds a substantial beneficial interest in such policyholder of the requirements and limitations under this subchapter.
The Manager of the Corporation may require each policyholder to provide to the Manager, at such times and in such manner as prescribed by the Manager, the name of each individual that holds or acquires a substantial beneficial interest in the policyholder.
For purposes of this subsection, the term “substantial beneficial interest” means not less than 5 percent of all beneficial interests in the policyholder.
The Corporation shall take such actions, including the establishment of adequate premiums, as are necessary to improve the actuarial soundness of Federal multiperil crop insurance made available under this subchapter to achieve an overall projected loss ratio of not greater than 1.0.
To the extent that the Corporation uses the nonstandard classification system, the Corporation shall apply the system to all insured producers in a fair and consistent manner.
The Secretary and the Corporation are each authorized to issue such regulations as are necessary to carry out this subchapter.
It is the sense of Congress that, to the greatest extent practicable, all equipment and products purchased by the Corporation using funds made available to the Corporation should be American-made.
In providing financial assistance to, or entering into any contract with, any entity for the purchase of equipment and products to carry out this subchapter, the Corporation, to the greatest extent practicable, shall provide to the entity a notice describing the statement made in paragraph (1).
The Corporation shall establish procedures under which the Corporation will provide a final agency determination in response to an inquiry regarding the interpretation by the Corporation of this subchapter or any regulation issued under this subchapter.
If the Corporation fails to respond to an inquiry in accordance with the procedures established pursuant to this subsection, the person requesting the interpretation of this subchapter or regulation may assume the interpretation is correct for the applicable reinsurance year.
The Confidential Information Protection and Statistical Efficiency Act of 2002, referred to in subsec. (h)(2)(B)(ii)(II), is title V of Pub. L. 107–347,
Section 405(c)(2)(C)(iii) of title 42, referred to in subsec. (m)(1), was redesignated section 405(c)(2)(C)(iv) of title 42 by Pub. L. 103–296, title III, § 321(a)(9)(B),
Pub. L. 110–234 and Pub. L. 110–246 made identical amendments to this section. The amendments by Pub. L. 110–234 were repealed by section 4(a) of Pub. L. 110–246.
2018—Subsec. (h)(2). Pub. L. 115–334, § 11102, designated existing provisions as subpar. (A), inserted heading, and added subpars. (B) and (C).
Subsec. (h)(3). Pub. L. 115–334, § 11103, inserted “applicants who have received payment under section 1522(b)(2)(E) of this title,” after “divisions,”.
2008—Subsec. (d). Pub. L. 110–246, § 12002(a)(1), substituted “Subject to section 1508(j)(2)(A) of this title, the Corporation” for “The Corporation” in first sentence.
Subsecs. (g) to (i), (m). Pub. L. 110–246, § 12033(c)(2)(B), substituted “this subchapter” for “this chapter” wherever appearing.
Subsec. (n). Pub. L. 110–246, § 12002(b)(1), redesignated subsec. (o) as (n).
Pub. L. 110–246, § 12002(a)(2), struck out subsec. (n) which related to penalty for willful and intentional provision of false or inaccurate information to the Corporation or any insurer.
Subsec. (n)(1). Pub. L. 110–246, § 12033(c)(2)(B), substituted “this subchapter” for “this chapter” in introductory provisions.
Subsec. (n)(2). Pub. L. 110–246, § 12033(c)(2)(B), substituted “this subchapter” for “this chapter”.
Pub. L. 110–246, § 12003(a), in heading, struck out “as of
Subsecs. (o), (p). Pub. L. 110–246, § 12033(c)(2)(B), substituted “this subchapter” for “this chapter”.
Pub. L. 110–246, § 12002(b)(1), redesignated subsecs. (p) and (q) as (o) and (p), respectively. Former subsec. (o) redesignated (n).
Subsec. (q). Pub. L. 110–246, § 12002(b)(1), redesignated subsec. (q) as (p).
Subsec. (r). Pub. L. 110–246, § 12033(c)(2)(B), substituted “this subchapter” for “this chapter” wherever appearing.
2000—Subsec. (h). Pub. L. 106–224, § 124(b), added subsec. (h) and struck out heading and text of former subsec. (h). Text read as follows: “The Corporation shall assemble data for the purpose of establishing sound actuarial bases for insurance on agricultural commodities.”
Subsecs. (q) to (s). Pub. L. 106–224, § 121(b), redesignated subsecs. (r) and (s) as (q) and (r), respectively, and struck out former subsec. (q), which related to program compliance by insurance providers and required notice to any provider of any error, omission, or failure to follow Corporation regulations or procedures for which provider may be responsible and which may result in a debt owed the Corporation.
1998—Subsec. (s). Pub. L. 105–185 added subsec. (s).
1994—Subsec. (d). Pub. L. 103–354, § 119(f)(1), substituted “1508(j)” for “1508(f)” in first sentence.
Subsec. (j). Pub. L. 103–354, § 104(2), added subsec. (j). Former subsec. (j) redesignated (k).
Subsec. (k). Pub. L. 103–354, § 104(1), redesignated subsec. (j) as (k). Former subsec. (k) redesignated (l).
Subsec. (l). Pub. L. 103–354, § 104(1), (3), redesignated subsec. (k) as (l), in first sentence inserted “, and issue regulations,” after “agreements”, and in second sentence substituted “contracts, agreements, or regulations” for “contracts or agreements” wherever appearing. Former subsec. (l) redesignated (m).
Subsec. (m). Pub. L. 103–354, § 104(1), redesignated subsec. (l) as (m). Former subsec. (m) redesignated (n).
Subsec. (n). Pub. L. 103–354, § 104(1), redesignated subsec. (m) as (n). Former subsec. (n) redesignated (o).
Subsec. (n)(1)(B). Pub. L. 103–354, § 104(4), added subpar. (B) and struck out former subpar. (B) which read as follows: “disqualify the person from receiving any benefit under this chapter for a period of not to exceed 10 years.”
Subsec. (o). Pub. L. 103–354, § 104(1), (5)(B), redesignated subsec. (n) as (o) and reenacted heading without change.
Subsec. (o)(1). Pub. L. 103–354, § 104(5)(B), designated existing provisions as par. (1) and inserted heading. Former par. (1) redesignated subpar. (A).
Subsec. (o)(1)(A). Pub. L. 103–354, § 104(5)(A), (C), redesignated former par. (1) as subpar. (A) and substituted “(as defined by the Secretary) from obtaining Federal crop insurance” for “from obtaining adequate Federal crop insurance, as determined by the Corporation”.
Subsec. (o)(1)(B). Pub. L. 103–354, § 104(5)(A), redesignated former par. (2) as subpar. (B).
Subsec. (o)(1)(C). Pub. L. 103–354, § 104(5)(A), (D), redesignated former par. (3) as subpar. (C) and inserted “, agents, and loss adjusters” after “participating producers” and after “identify insured producers”.
Subsec. (o)(1)(D). Pub. L. 103–354, § 104(5)(A), redesignated former par. (4) as subpar. (D).
Subsec. (o)(2) to (4). Pub. L. 103–354, § 104(5)(A), (E), added pars. (2) and (3) and redesignated former pars. (2) to (4) as subpars. (B) to (D), respectively, of par. (1) and realigned their margins.
Subsecs. (p) to (r). Pub. L. 103–354, § 104(6), added subsecs. (p) to (r).
1993—Subsec. (n). Pub. L. 103–66 added subsec. (n).
1991—Subsec. (d). Pub. L. 102–237, § 601(1), substituted “section 1508(f)” for “section 1508(c)” and a period for semicolon at end.
Subsec. (m)(1). Pub. L. 102–237, § 601(2), in introductory provisions substituted “willfully” for “wilfully” and in subpar. (A) struck out “to” after “exceed”.
1990—Pub. L. 101–624, § 2202(b)(1), substituted “General powers” for “General powers of Corporation” as section catchline and struck out “The Corporation—” before subsec. (a).
Subsec. (a). Pub. L. 101–624, § 2202(b)(2), (13), inserted heading and “The Corporation” and substituted period for semicolon at end.
Subsec. (b). Pub. L. 101–624, § 2202(b)(3), (13), inserted heading and “The Corporation” and substituted period for semicolon at end.
Subsec. (c). Pub. L. 101–624, § 2202(b)(4), (13), inserted heading and “The Corporation” and substituted period for semicolon at end.
Subsec. (d). Pub. L. 101–624, § 2202(b)(5), inserted heading and “The Corporation,”.
Subsec. (e). Pub. L. 101–624, § 2202(b)(6), (13), inserted heading and “The Corporation” and substituted period for semicolon at end.
Subsec. (f). Pub. L. 101–624, § 2202(b)(7), (13), inserted heading and “The Corporation” and substituted period for semicolon at end.
Subsec. (g). Pub. L. 101–624, § 2202(b)(8), (13), inserted heading and “The Corporation,” and substituted period for semicolon at end.
Subsec. (h). Pub. L. 101–624, § 2202(b)(9), (13), inserted heading and “The Corporation” and substituted period for semicolon at end.
Subsec. (i). Pub. L. 101–624, § 2202(b)(10), (14), inserted heading and “The Corporation” and substituted period for “; and” at end.
Subsec. (j). Pub. L. 101–624, § 2202(b)(11), (14), inserted heading and “The Corporation” and substituted period for “; and” at end.
Subsec. (k). Pub. L. 101–624, § 2202(b)(12), inserted heading and “The Corporation”.
Subsec. (l). Pub. L. 101–624, § 2201(a), added subsec. (l).
Subsec. (m). Pub. L. 101–624, § 2202(a), added subsec. (m).
1980—Subsec. (c). Pub. L. 96–365, § 103(1), substituted “may purchase” for “may make contracts and purchase”. See subsec. (k) of this section.
Subsec. (d). Pub. L. 96–365, § 103(2), substituted provision granting exclusive original jurisdiction to district courts of the United States, including district courts of the District of Columbia and of any territory or possession, for prior grant to any State court of record having general jurisdiction or any United States district court, authorized intervention by the Corporation in proceedings, and required suits against the Corporation to be brought in the District of Columbia or in district wherein plaintiff resides or is engaged in business.
Subsec. (f). Pub. L. 96–365, § 103(3), substituted “use of the United States mails” for “free use of the United States mails”.
Subsec. (h). Pub. L. 96–365, § 107(a), struck out authority for conducting researches, surveys, and investigations relating to crop insurance. See section 1508(i) of this title.
Subsec. (k). Pub. L. 96–365, § 103(4), added subsec. (k).
1949—Subsec. (h). Act
1947—Subsec. (d). Act
1941—Subsec. (h). Act
Amendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective
Pub. L. 105–185, title V, § 537,
Amendment by Pub. L. 103–354 effective
Pub. L. 103–66, title I, § 1403(c)(1),
Amendment by Pub. L. 96–365 effective
Pub. L. 103–66, title I, § 1403(c)(2),
Pub. L. 106–224, title I, § 148,
Pub. L. 105–185, title V, § 536,
Pub. L. 103–354, title I, § 118,
Administration of program of Federal Crop Insurance Corporation transferred to Secretary of Agriculture by 1946 Reorg. Plan No. 3, § 501, eff.
Wartime consolidation of Federal Crop Insurance Corporation into Agricultural Conservation and Adjustment Administration, see note set out under section 1503 of this title.