66
STAT.]
353
PUBLIC LAW 4 5 1 - J U L Y 5, 1952
TITLE II—CORPORATIONS The following corporations and agencies are hereby authorized to make such expenditures, within the limits of funds and borrowing authority available to each such corporation or agency and in accord with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act, as amended, as may be necessary in carrying out the programs set forth in the budget for the fiscal year 1953 for such corporation or agency, except as hereinafter provided: Federal Crop Insurance Corporation. Commodity Credit Corporation: Nothing in this Act shall be so construed as to prevent the Commodity Credit Corporation from carrying out any activity or any program authorized by law: Provided, That not to exceed $16,500,000 shall be available for administrative expenses of the Corporation: Provided further, That all necessary expenses (including legal and special services performed on a contract or fee basis, but not including other personal services) in connection with the acquisition, operation, maintenance, improvement, or disposition of any real or personal propery belonging to the Corporation or in which it has an interest, including expenses of collections of pledged collateral, shall be considered as nonadministrative expenses for the purposes hereof. Federal F a r m Mortgage Corporation: Not to exceed $950,000 (to be computed on an accrual basis) of the funds of the Corporation shall be available for administrative expenses, including employment on a contract or fee basis of persons, firms, and corporations for the performance of special services, including legal services, and the use of the services and facilities of Federal land banks, national farm loan associations. Federal Reserve banks, and agencies of the Government as authorized by the Act of January 31, 1934 (12 U.S.C. 10201020h); and said total sum shall be exclusive of services and facilities furnished and examinations made by the F a r m Credit Administration central office, interest expense, and expenses in connection with the acquisition, operation, maintenance, improvement, protection, or disposition of real or personal property belonging to the Corporation or in which it has an interest: Provided, That promptly after June 30 of each fiscal year all cash funds in excess of the estimated operating requirements for the current fiscal year shall be declared as dividends and paid into the general fund of the Treasury: Provided further, That the aggregate amount of bonds the Corporation may issue and have outstanding at any one time shall not exceed $500,000,000. Federal intermediate credit banks: Not to exceed $1,690,000 (to be computed on an accrual basis) of the funds of the banks shall be available for administrative expenses and services performed for the banks by other Government agencies (except services and facilities furnished and examinations made by the Farm Credit Administration central office, and services performed by any Federal Reserve bank and by the United States Treasury in connection with the financial transactions of the banks); and said total sum shall be exclusive of interest expense, legal and special services performed on a contract or fee basis, and expenses in connection with the acquisition, operation, maintenance, improvement, protection, or disposition of real or personal property belonging to the banks or in which they have an interest. Production credit corporations: Not to exceed $1,465,000 (to be computed on an accrual basis) of the funds of the corporations shall be available for administrative expenses and services performed for the corporations by other Government agencies (except services and facilities furnished and examinations made by the Farm Credit
59 Stat. 598. 31 USC 849.
48 Stat. 334.
Dividends.
Bonds.
Administrative expenses.
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