Page:United States Statutes at Large Volume 46 Part 1.djvu/61

 SE VENT Y-FI RST CONGRESS. SEss. I. CH. 24. 1929 . 17 opinion of the board is representative of the commodity. Clearing Utilization of Depart- me nt faci lities, etc. hous e associa tions sh all util ize the market n ews servi ce and other me nt faci lities, etc. fac ilities of the De partment of Agri culture as far as possibl e. PRICE INSURANCE Price insurance. SEC. 11 . T he board is autho rized, u pon appl ication o f cooper ative theBoa a entts for,by associations, to enter into agreements, subjec t to the conditions here- t iono fco ope rat ive as so- ciations, against price inaf ter speci fied, fo r the in surance of the c ooperativ e associations decline in commodity against loss through price decline in the agricultural commodity produced by members. handled by the associations and produced by the members thereof. Such agreements shall be entered into only if, in the judgment of Cond itions. the board, (1) coverage is not available from private agencies at reasonable rates, (2) the insurance will be in furtherance of the policy declared in section 1, (3) the agricultural commodity is regu- larly bought and sold in the markets in sufficient volume to establish a recognized basic price for the market grades of the commodity, and (4) there is available with respect to the commodity such mar- ket information as will afford an accurate record of prevailing prices for the commodity covering a period of years of sufficient length to serve as a basis to calculate the risk and fix the premium for the insurance. The agreements shall require payment of premiums so Payment of premi- fix ed and s hall incl ude such other t erms as, in the j udgment of the nms' etc ., required. bo ard, are neces sary. The board may make advan ces from the Advances from re- revolving fund to meet obligations under any insurance agreement, volvmg fund. but such advances together with the interest thereon shall, as soon as practicable, be repaid from the proceeds of insurance premiums. Repayment. ADMINISTRA'riVE APPROPRIATION Admtion. ti cs ap- propriation Amount authorized SEC. 12. For expenditures iii executing the functions vested in the fo rexecuti on of Ac t, by board by this Act (including salaries and expenses of mem bers, the Board . Post, an d emp loye es of the boar d and per diem comp ensat ion and ex pense s of the commo dity comm ittee s), incur red p rior to J uly 1, 1930, there is hereby authorized to be a ppropria ted the sum of $1,500,000. No part of th e moneys appropriated in purs uance of Not availab le for r e- this authori zation shall be available for expe nditures, including loans vo lving fu nd, etc. and advances, for the payment of which the revolving fund or insurance moneys are authorized to be used. Avoidance ofduplica- AVOIDANCE OF' DUPLICATION tion. SEc. 13 . (a) The board shall, in cooperation with any governmental mental Coopera wi th ~ yg executive eststablis h- establishment in the Executive branch of the Government, including ments. any field service thereof at home or abroad, avail itself of the services and facilities thereof in order to , avo id preven table ex pense or dupli- cation of effort. Information and data (b) The President may by Executive order direct any such govern- to be furnished b y. mental establishment to furnish the board such information and data as such gov ernmental establi shment m ay have pertainin g to the func- ti ons of the bo ard ; except that the President shall not direct that the excepted . board be furnished with any information or data supplied by any person in confidence to any governmental establishment in pursuance of any provision of law or of any agreement with a governmental establishment. (c) The board may co operate with any State or Terr itory, or Cooperation wi th department, agency, or political subdivision thereof, or with any state, etc., agencies, person. Research work by the (d) The board shall, through the Secretary of Agriculture, indi- Agriculture Dep art- cate to the appropriate bureau or division of the Department of meat • Agriculture any special problem on which a research is needed to aid in carrying out the provisions of this Act. 57894°-31-2

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