15 USC § 714 - Creation and purpose of Corporation

---
identifier: "/us/usc/t15/s714"
source: "usc"
legal_status: "official_prima_facie"
title: "15 USC § 714 - Creation and purpose of Corporation"
title_number: 15
title_name: "COMMERCE AND TRADE"
section_number: "714"
section_name: "Creation and purpose of Corporation"
chapter_number: 15
chapter_name: "ECONOMIC RECOVERY"
subchapter_number: "II"
subchapter_name: "COMMODITY CREDIT CORPORATION"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(June 29, 1948, ch. 704, § 2, 62 Stat. 1070; June 7, 1949, ch. 175, § 1, 63 Stat. 154.)"
---


# § 714. Creation and purpose of Corporation

For the purpose of stabilizing, supporting, and protecting farm income and prices, of assisting in the maintenance of balanced and adequate supplies of agricultural commodities, products thereof, foods, feeds, and fibers (hereinafter collectively referred to as “agricultural commodities”), and of facilitating the orderly distribution of agricultural commodities, there is created a body corporate to be known as Commodity Credit Corporation (hereinafter referred to as the “Corporation”), which shall be an agency and instrumentality of the United States, within the Department of Agriculture, subject to the general supervision and direction of the Secretary of Agriculture (hereinafter referred to as the “Secretary”).

---

**Source Credit**: (June 29, 1948, ch. 704, § 2, 62 Stat. 1070; June 7, 1949, ch. 175, § 1, 63 Stat. 154.)

## Editorial Notes

### Amendments

1949—Act , placed the general supervision and direction of the Commodity Credit Corporation in the Secretary of Agriculture.

## Statutory Notes and Related Subsidiaries

### Effective Date

Section 18 of act , provided that sections 714 to 714 of this title shall take effect as of midnight .

### Short Title

Congress in enacting sections 714 to 714p of this title provided by section 1 of act , that they should be popularly known as the “Commodity Credit Corporation Charter Act”.

### Establishing Quality as Goal for Commodity Credit Corporation Programs

> “In carrying out its activities the Commodity Credit Corporation shall, to the extent practicable, provide for program provisions that promote quality in the production and marketing of crops and livestock in the United States.”

, formerly § 2518, , , as renumbered by , , , provided that:

[, , , which directed the repeal of section 2517 of the Food, Agriculture, Conservation, and Trade Act of 1990, , relating to a study of transportation of fertilizer and agricultural chemicals to farmers, was not executed to provisions set out above, to reflect the probable intent of Congress and the amendment by , , , which repealed  relating to such study, and renumbered , set out above, as .]

## 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 .