Page:United States Statutes at Large Volume 58 Part 1.djvu/856

 PUBLIC LAWS-CH. 623-DEC. 20, 1944 [CHAPTER 623] ANT A(?T' December 2, 1944 . [8. 1688] To authorize the Secretary of Agriculture to compromise, adjust, or cancel certain [Public Law 518] indebtedness, and for other purposes. Farmers. Cancelation, etc., of certain indebtedness. Conditions. Indebtedness less than $10, or debtor de- ceased, etc. 30 Stat. 544 . 11U..0.. 1d seg.; Supp. mI, § 404 et seq. Ante, p. 113. Indebtedness aris- ing from loans, etc., under designated Acts. 48 Stat. 31 . 48 Stat. 698. A8 Stat. 528. 48 Stat. 1066 . 48 Stat. 1275. 49 Stat. 1163 . 49 Stat. 774. 49 Stat. 1109. 49 Stat. 1148 -1151. 50 Stat. 903. 52 Stat. 45, 66 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of Agriculture, hereinafter referred to as the Secretary, is hereby authorized and directed to compromise, adjust, or cancel indebtedness arising from loans and payments made or credit extended to farmers under the provisions of the several Acts of Congress or programs enumerated in section 2: Provided, That the Secretary finds, after such investigation as he deems sufficient to establish the facts, that (1) said indebtedness has been due and payable for five years or more; (2) the debtor is unable to pay said indebtedness in full and has no reasonable prospect of being able to do so; (3) the debtor has acted in good faith in an effort to meet his obligation; and (4) the principal amount of said indebtedness is not in excess of $1,000. The Secretary is hereby further authorized at his discretion to cancel and discharge indebtedness arising under said Acts of Congress or programs when the amount of said indebtedness is less than $10, or the debtor is deceased and there is no reasonable prospect of recovering from his estate, or his whereabouts has remained unknown for two years and there is no reasonable prospect of obtain- ing collection, or he has been discharged of the indebtedness in any proceeding under the Act entitled "An Act to establish a uniform system of bankruptcy throughout the United States". The com- promises, adjustments, or cancelations authorized by this section shall be effected through such agencies, upon such terms and condi- tions, and subject to such regulations, as the Secretary may prescribe and the Secretary may delegate the exercise of any such powers and functions to such officers or employees of the Department of Agriculture as he may designate. SEC. 2. The provisions of this Act shall apply to any indebtedness of farmers arising from loans or payments made or credit extended to them under any of the following Acts or programs: (a) July 1, 1918 (40 Stat. 635); March 3, 1921 (41 Stat. 1347); March 20, 1922 (42 Stat. 467; April 26, 1924 (43 Stat. 110); February 25 1927 (44 Stat. 1245); February 28, 1927 (44 Stat., part II, 1251); February 25, 1929 (45 Stat. 1306), as amended May 17, 1929 (46 Stat. 3); March 3, 1930 (46 Stat. 78-79), as amended April 24, 1930 (46 Stat. 254); December 20, 1930 (46 Stat. 1032), as amended February 14, 1931 (46 Stat. 1160); February 23, 1931 (46 Stat. 1276); January 22, 1932 (47 Stat. 5); March 3, 1932 (47 Stat. 60); February 4, 1933 (47 Stat. 795); February 23, 1934 (48 Stat. 354) ; June 19,1934 (48 Stat. 1056); February 20, 1935 (49 Stat. 28); March 21, 1935 (49 Stat. 50); April 8, 1935 (49 Stat. 115); (Executive Order Numbered 7305); January 29, 1937 (50 Stat. 5); and February 4, 1938 (52 Stat. 27); (b) Agri- cultural Adjustment Act (of 1933); Bankhead Cotton Act of April 21, 1934, on account of the several cotton tax-exemption certificate pools; Jones-Oonnally Cattle Act of April 7, 1934; Emergency Appropriation Act, fiscal year 1935, approved June 19, 1934; Kerr Tobacco Act of June 28, 1934, and Public Resolution Numbered 76, approved March 14, 1936; section 32 of the Act of August 24, 1935, and related legislation; Supplemental Appropriation Act, fiscal year 1936; sections 7 to 17 of the Soil Conservation and Domestic Allot- ment Act; Sugar Act of 1937; sections 303 and 381 (a) of the Agri- cultural Adjustment Act of 1938 and related or subsequent legislation authorizing parity or price adjustment payments; title IV and title [58 STAT.

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