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U.S. Code/Title 7/§ 1504

Title 7

7

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7 U.S.C. § 1504.Chapter 36

§ 1504

Capital stock of Corporation

Title 7
2 min read
Subchapter: FEDERAL CROP INSURANCE

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((a)) ** Subscription by United States** The Corporation shall have a capital stock of $500,000,000 subscribed by the United States of America, payment for which shall, with the approval of the Secretary, be subject to call in whole or in part by the Board.

((b)) ** Appropriations** There is authorized to be appropriated such sums as are necessary for the purpose of subscribing to the capital stock of the Corporation.

((c)) ** Issuance of stock to Secretary of the Treasury** Receipts for payments by the United States of America for or on account of such stock shall be issued by the Corporation to the Secretary of the Treasury and shall be evidence of the stock ownership by the United States of America.

((d)) ** Cancellation of receipts; nonliability of Corporation** Within thirty days after , the Secretary of the Treasury shall cancel, without consideration, receipts for payments for or on account of the stock of the Corporation outstanding on , and such receipts shall cease to be liabilities of the Corporation.September 26, 19801980-09-26September 26, 19801980-09-26

§ 1503

Release: pl-119-103 (2026-09-02)

§ 1504a

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