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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 09:52:37 -04:00

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LegalText 7 U.S.C. § 1383 Insurance of cotton; reconcentration us united_states_code code_section 7 AGRICULTURE 35 AGRICULTURAL ADJUSTMENT ACT OF 1938 1383 7 U.S.C. § 1383 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc07@119-100.zip /us/usc/t7/s1383 data/legal/raw/us/code/title-07/usc07.xml e74c236a5772487cb6a213de465aa5eccb237a1514820efc229189eceb449e22 50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984 d8c787ac52ba034bf6a0762e63c5afe94073ba18e8c197ce2d469b7f2bd03d6c 2026-07-04 official
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7 U.S.C. § 1383 - Insurance of cotton; reconcentration

Text

(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 insurance 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 insurance offered on said cotton elsewhere.

(b) Cotton held as security for any loan heretofore or hereafter made or arranged for by the Commodity Credit Corporation shall not hereafter be reconcentrated without the written consent of the producer or borrower.

(Feb. 16, 1938, ch. 30, title III, § 383, 52 Stat. 67.)

Notes

Executive Documents

Transfer of Functions Administration of program of Commodity Credit Corporation 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, Government Organization and Employees.

Exceptions From Transfer of Functions Functions of Corporations of Department of Agriculture, boards of directors and officers of such corporations; Advisory Board of Commodity Credit Corporation; and Farm Credit Administration or any agency, officer, or entity of, under, or subject to supervision of said Administration excepted from functions of officers, 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.