Title 15Commerce and TradeRelease 119-73

§714k Records; annual report

Title 15 › Chapter CHAPTER 15— - ECONOMIC RECOVERY › Subchapter SUBCHAPTER II— - COMMODITY CREDIT CORPORATION › § 714k

Last updated Apr 6, 2026|Official source

Summary

The Corporation must keep complete, accurate financial records and file a yearly report about its business with the Secretary of Agriculture. The Secretary will send a copy to the President so it can be sent to Congress. Each quarter the Corporation must give Congress a detailed list of every expenditure over $10,000 made under sections 714c or 714i, including allotments or fund transfers to other agencies and departments of the Federal Government.

Full Legal Text

Title 15, §714k

Commerce and Trade — Source: USLM XML via OLRC

The Corporation shall at all times maintain complete and accurate books of account and shall file annually with the Secretary of Agriculture a complete report as to the business of the Corporation, a copy of which shall be forwarded by the Secretary of Agriculture to the President for transmission to the Congress. In addition to the annual report, the Corporation shall submit to Congress on a quarterly basis an itemized report of all expenditures over $10,000 made under section 714c or 714i of this title during the period covered by the report, including expenditures in the form of allotments or fund transfers to other agencies and departments of the Federal Government.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1996—Pub. L. 104–127 inserted at end “In addition to the annual report, the Corporation shall submit to Congress on a quarterly basis an itemized report of all expenditures over $10,000 made under section 714c or 714i of this title during the period covered by the report, including expenditures in the form of allotments or fund transfers to other agencies and departments of the Federal Government.”

Statutory Notes and Related Subsidiaries

Termination of Reporting RequirementsFor termination, effective May 15, 2000, of provisions of law requiring submittal to Congress of any annual, semiannual, or other regular periodic report listed in House Document No. 103–7 (in which the requirement, under the 1st sentence of this section, to transmit to Congress a complete annual report as to the business of the Corporation, is listed on page 46), see section 3003 of Pub. L. 104–66, as amended, and section 1(a)(4) [div. A, § 1402] of Pub. L. 106–554, set out as notes under section 1113 of Title 31, Money and Finance.

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. Delegation of Certain Reporting Authority Memorandum of President of the United States, Dec. 8, 2004, 69 F.R. 74941, provided: Memorandum for the Secretary of Agriculture By the authority vested in me as President by the Constitution and the laws of the United States, including section 301 of title 3, United States Code, I hereby delegate to you the functions conferred upon the President by section 13 of Public Law 806, 80th Congress (15 U.S.C. 714k), to provide the specified report to the Congress. You are authorized and directed to publish this memorandum in the Federal Register. George W. Bush.

Reference

Citations & Metadata

Citation

15 U.S.C. § 714k

Title 15Commerce and Trade

Last Updated

Apr 6, 2026

Release point: 119-73