United States Code (Last Updated: May 24, 2014) |
Title 7. AGRICULTURE |
Chapter 26. AGRICULTURAL ADJUSTMENT |
SubChapter II. COTTON OPTION CONTRACTS |
§ 607. Sale by Secretary; additional options; validation of assignments; publication of information
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The Secretary shall sell cotton held or acquired by him pursuant to authority of this chapter at his discretion subject only to the conditions and limitations of this chapter: Provided, That the Secretary shall have authority to enter into option contracts with producers of cotton to sell to or for the producers such cotton held and/or acquired by him in such amounts and at such prices and upon such terms and conditions as he, the Secretary, may deem advisable, and such option contracts may be transferred or assigned in such manner as the Secretary of Agriculture may prescribe.
Notwithstanding any provisions contained in option contracts heretofore issued and/or any provision of law, assignments made prior to
January 11, 1934 , of option contracts exercised prior toJanuary 18, 1934 , shall be deemed valid upon determination by the Secretary that such assignment was an assignment in good faith of the full interest in such contract and for full value and is free from evidence of fraud or speculation by the assignee.Notwithstanding any provision of existing law, the Secretary of Agriculture may, in the administration of this chapter, make public such information as he deems necessary in order to effectuate the purposes of this chapter.
Amendments
1935—Act
1933—Act