Title 7 — AgricultureRelease 119-73
§1510 Deposit and investment of funds; Federal Reserve banks as fiscal agents
Title 7 › Chapter CHAPTER 36— - CROP INSURANCE › Subchapter SUBCHAPTER I— - FEDERAL CROP INSURANCE › § 1510
Summary
Unused Corporation money must be kept by the U.S. Treasurer or in banks the Secretary of the Treasury approves, or with that Secretary’s OK invested in U.S. government‑backed bonds. With Treasury approval, Federal Reserve banks may hold, safeguard, and handle the Corporation’s money.
Full Legal Text
Title 7, §1510
Agriculture — Source: USLM XML via OLRC
All money of the Corporation not otherwise employed may be deposited with the Treasurer of the United States or in any bank approved by the Secretary of the Treasury, subject to withdrawal by the Corporation at any time, or with the approval of the Secretary of the Treasury may be invested in obligations of the United States or in obligations guaranteed as to principal and interest by the United States. Subject to the approval of the Secretary of the Treasury, the Federal Reserve banks are hereby authorized and directed to act as depositories, custodians, and fiscal agents for the Corporation in the performance of its powers conferred by this subchapter.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification 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 L. 110–234 were repealed by section 4(a) of Pub.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.
Amendments
2008—Pub. L. 110–246, § 12033(c)(2)(B), substituted “this subchapter” for “this chapter”.
Statutory Notes and Related Subsidiaries
Effective Date
of 2008 AmendmentAmendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as an
Effective Date
note under section 8701 of this title.
Executive Documents
Transfer of Functions
Administration of program of Federal Crop Insurance Corporation transferred to Secretary of Agriculture by 1946 Reorg. Plan No. 3, § 501, eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100. See note set out under section 1503 of this title. Wartime consolidation of Federal Crop Insurance Corporation into Agricultural Conservation and Adjustment Administration, see note set out under section 1503 of this title.
Reference
Citations & Metadata
Citation
7 U.S.C. § 1510
Title 7 — Agriculture
Last Updated
Apr 6, 2026
Release point: 119-73