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Emergency Crop and Feed Loan Section of the Farm Credit Administration are made available to any regional agricultural credit corporation or branch thereof for the purpose of closing, inspecting, collecting and/or servicing, within the territory of such office, loans made or to be made by, or carried on the books of, such corporation or branch thereof, when such services are performed in accordance with an agreement or plan of procedure approved by the director or assistant director of the Emergency Crop and Feed Loan Section and the director or acting director of the Regional Agricultural Credit Division.

The officers and employees of the regional offices of the Emergency Crop and Feed Loan Section are authorized and instructed to perform any and all of the services required of them in accordance with any such agreement or plan of procedure. (E.O. 6084, Mar. 27, 1933, 6 CFR 1.1 (m). Sec. 5 (b), 50 Stat. 6; 12 U.S.C., Sup., 1020m (b)) [FCA Order 130, Apr. 10, 1936]

3.84 Authority to subordinate in certain instances liens acquired as security for unpaid drought feed loans. The Governor of the Farm Credit Administration (hereafter referred to as Governor) made drought feed loans to farmers pursuant to the Emergency Appropriation Act, fiscal year 1935 (48 Stat. 1055) and Executive Order 6747, dated June 23, 1934 (6 CFR 1.3); and many of such borrowers who have been unable to fully repay their drought feed loans have voluntarily given, and others will give, to the Governor chattel mortgages on their livestock as security for their loans, subject to the condition that the Governor, under certain circumstances, will subordinate his interest in such livestock; and some of such borrowers who have so given chattel mortgages on their livestock have requested that such subordination agreements be executed. If any such drought feed loan borrower has obtained or hereafter obtains an advance or advances from any person or persons (including corporations) for the preservation of livestock on which such borrower theretofore has voluntarily given to the Governor a chattel mortgage as security for such drought feed loan, or as security for the purchase of additional livestock (such additions likewise having been made subject to the lien of the Governor's mortgage), the manager of the regional office of the Emergency Crop and Feed Loan Section in which such drought feed loan is held may, upon the request in writing of such borrower, execute for the Governor and in his name and stead an agreement in the form prescribed by the Director of the Emergency Crop and Feed Loan Section subordinating in favor of the person or persons (including corporations) so making such advance or advances the lien of the Governor's mortgage to the extent of the sum or sums so advanced. (E.O. 6747, June 23, 1934, 6 CFR 1.3, 48 Stat. 1055) [FCA Order 219, Mar. 19, 1938]

3.85 Authority to execute Parts II and III of Agricultural Adjustment Administration Form ACP-69. Each field supervisor, collector, and bonded employee (on_temporary duty in the field) of the Emergency Crop and Feed Loan Section is authorized to execute, as agent of the Governor of the Farm Credit Administration, Part II of Form ACP-69 (Agricultural Adjustment Adminis

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tration Assignment Form-for assignment of payments under section 8 of the Soil Conservation and Domestic Allotment Act, 49 Stat. 1149; 16 U.S.C., Sup., 590h, as amended).

Each regional manager and each credit and collection manager of an emergency crop and feed loan office is authorized, severally and not jointly, to execute, as agent of the Governor of the Farm Credit Administration, Part III of said Form ACP-69. (E.O. 6084, Mar. 27, 1933, 6 CFR 1.1 (m). Sec. 5 (a), 50 Stat. 6; 12 U.S.C., Sup., 1020m (a)) [FCA Order 225, May 16, 1938]

Sec.

PART 4-DISCLOSURE OR USE OF OFFICIAL

INFORMATION

Sec.

4.1 Officers and employees of Farm 4.3 Loan files, confidential information. Credit Administration and of cor- 4.4 Prohibiting divulgence of informaporations functioning thereunder. tion.

4.2 Granting of information to outside

persons or agencies.

Section 4.1 Officers and employees of Farm Credit Administration and of corporations functioning thereunder. (a) Except as specifically authorized by law or rules and regulations promulgated thereunder, no officer, employee, or agent of the Farm Credit Administration or of any corporation under its supervision and control:

(1) Shall, in any manner directly or indirectly, participate in the deliberation upon, or the determination of, any question affecting his personal interest, those of any person related to him by blood or marriage, or those of any partnership, association, or any corporation in which he is directly or indirectly interested;

(2) Shall divulge to another person, except in the performance of his official duties, or utilize for his personal benefit or that of another, any fact or information acquired by such officer, employee, or agent, directly or indirectly, by virtue of his employment;

(3) Shall speculate, directly or indirectly, in any agricultural commodity or product thereof, or in contracts relating thereto, or in the stock or membership interests of any association or corporation engaged in handling, processing or disposing of any such commodity or product;

(4) Shall, by any agreement or arrangement whatever, divide or share, directly or indirectly, with another person any compensation or other emolument received by such officer, employee, or agent for or on account of services rendered in the performance of his official duties;

(5) Shall accept or receive any salary, fee, commission, honorarium, or substantial gift, or other benefit for any purpose or in any way, directly or indirectly, from any borrower from or debtor to the Farm Credit Administration or any such corporation, or from any loan applicant or representative thereof.

(b) In this connection, particular attention is directed to the following provisions of law containing the Federal penal provisions which relate particularly to officers, employees, and agents of the Farm Credit Administration and the corporations under its supervision and control: section 31 of the Federal Farm Loan Act (39 Stat. 382; 12

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U.S.C. 981 and Sup.) as amended; paragraphs (a) to (e), inclusive, of section 211 of the Agricultural Credits Act of 1923 (42 Stat. 1459; 12 U.S.C. 1121-1125) as amended; paragraphs (b), (c), and (d) of section 15 of the Agricultural Marketing Act (46 Stat. 18; 12 U.S.C. 1141j and Sup.); section 3 (b) of the Act of February 3, 1933 (47 Stat. 795); section 10 (g) of the Act of May 12, 1933 (Agricultural Adjustment Act) (48 Stat. 37; 7 U.S.C. 610 and Sup.); and paragraphs (a), (c), (e), and (f) of section 64 of the Farm Credit Act of 1933 (48 Stat. 267; 12 U.S.C. 1138d). (Sec. 6, 47 Stat. 14, sec. 17, 39 Stat. 375, sec. 2, 42 Stat. 1459, secs. 1-43, 60-66, 48 Stat. 257 ff. as amended, sec. 4, 46 Stat. 13, sec. 201 (e), 47 Stat. 713, sec. 16, 48 Stat. 1221, sec. 6, 44 Stat. 803; 12 U.S.C. 665, 831, 1101, 1131-1138f, 1141b, 1148, 1766 and Sup., 7 U.S.C. 456) [FCA Order 18, Oct. 18, 1933]

4.2 Granting of information to outside persons or agencies. (a) No lists of employees of the Farm Credit Administration or of any of the institutions under its control shall be given out unless with the approval of the Governor, one of the Deputy Governors, or the Executive Officer, except that:

(b) The Land Bank Commissioner may authorize the giving out of lists of

(1) Officers and employees of Federal land banks and joint stock land banks;

(2) Appraisers;

(3) Officers of national farm loan associations; and

(4) National farm loan associations, together with the names of the towns and states in which they have their legal headquarters.

(c) The Intermediate Credit Commissioner may authorize the giving out of lists of officers and employees of the Federal intermediate credit banks;

(d) The Production Credit Commissioner may authorize the giving out of lists of officers and employees of the production credit corporations and production credit associations; and

(e) The Cooperative Bank Commissioner may authorize the giving out of lists of officers and employees of the banks for cooperatives. (Sec. 6, 47 Stat. 14, sec. 17, 39 Stat. 375, sec. 2, 42 Stat. 1459, secs. 1-43, 48 Stat. 257 ff., as amended, sec. 4, 46 Stat. 13, sec. 201 (e), 47 Stat. 713, sec. 16, 48 Stat. 1221, sec. 6, 44 Stat. 803; 12 U.S.C. 665, 831, 1101, 1131–1138f, 1141b, 1148, 1766 and Sup., 7 U.S.C. 456) [FCA Order 48, Apr. 20, 1934, FCA Order 77, Nov. 26, 1934]

4.3 Loan files, confidential information. All information obtained by officers, agents, and employees of the Farm Credit Administration, and/or by corporations operating under its supervision, in connection with applicants for loans and their property, shall be received and held in strict confidence; and except with the specific approval of the Governor of the Farm Credit Administration access to and/or copies of the following listed documents shall be denied any person, firm, or corporation other than the Farm Credit Administration (its duly accredited officers, agents, or employees) and corporations operating under the supervision of the Farm Credit Administration: loan applications, supplementary statements by applicants, reports of appraisers and/or inspectors, letters and/or statements rel

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ative to the character and credit standing of applicants, recommendations of loan committees or other groups authorized to consider and/or act upon loan applications, etc.

Nothing in this section shall be deemed to prohibit access to information in the possession of the Farm Credit Administration or of a corporation under its supervision, where such access is officially requested by some department or independent office of the Government of the United States, for use in connection with the execution of the official duties of such department or office. (Sec. 6, 47 Stat. 14, sec. 17, 39 Stat. 375, sec. 2, 42 Stat. 1459, secs. 1-43, 48 Stat. 257 ff., as amended, sec. 4, 46 Stat. 13, sec. 201 (e), 47 Stat. 713, sec. 16, 48 Stat. 1221, sec. 6, 44 Stat. 803; 12 U.S.C. 665, 831, 1101, 1131-1138f, 1141b, 1148, 1766 and Sup., 7 U.S.C. 456) [FCA Order 96, May 15, 1935]

4.4 Prohibiting divulgence of information. Except upon prior approval of the Governor of the Farm Credit Administration, all employees of the Farm Credit Administration, acting pursuant to the Acts of Congress approved February 23, 1934 (48 Stat. 354); June 19, 1934 (48 Stat. 1055) and Executive Order 6747, June 23, 1934 (6 CFR 1.3); February 20, 1935 (49 Stat. 28); April 8, 1935 (49 Stat. 115) and Executive Order 7305, February 28, 1936 (6 CFR 1.4); January 29, 1937 (50 Stat. 5; 12 U.S.C., Sup., 10201); and the Joint Resolution of Congress approved February 4, 1938 (52 Stat. 26), in administering emergency crop and feed loans made pursuant thereto, are prohibited from disclosing or furnishing, to any person other than an employee of the Federal Government, any information contained in any report upon or in any application for a loan authorized as aforesaid, or from giving out any copies thereof in court or from appearing as witnesses in any litigation, except on behalf of the United States in connection with a case referred to a United States attorney by the Governor, for the purpose of testifying to any facts or knowledge secured by them through any such applications or reports. Whenever subpenas shall have been served on such employees, except subpenas issued at the request of a United States attorney in connection with a case referred to him by the Governor, they will appear in court in answer thereto and, except with the prior approval aforesaid, will respectfully decline to testify to matters herein referred to as confidential, or to produce records thereof, on the grounds that. the same are confidential, and they are prohibited from so doing. No copy of any application or report shall be furnished to any court of the United States or to any other court except on a rule of that court upon the Governor of the Farm Credit Administration requesting such a copy. Whenever such a rule of court shall have been obtained, employees of the Farm Credit Administration are directed to prepare carefully a copy of the application or report containing the information called for and to send it to the Director of the Emergency Crop and Feed Loan Section at Washington, D. C., whereupon (unless existing circumstances or conditions should make it necessary to decline, in the interests of public service, to furnish such a copy) it will be submitted to the Governor of the Farm Credit Administration with the request that it be authenticated under the seal of the Farm Credit

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Administration and transmitted to the judge of the court requesting it.

Also, no information of the character hereinabove described as confidential shall be released to an employee of the Federal Government, other than employees of the Emergency Crop and Feed Loan Section, except on the prior approval of the Director of the Emergency Crop and Feed Loan Section. (E.O. 6747, June 23, 1934, 6 CFR 1.3. 48 Stat. 354, 48 Stat. 1055) [FCA Order 75, Oct. 29, 1934] (49 Stat. 28) [FCA Order 91, Mar. 22, 1935] (E.O. 7305, Feb. 28, 1936, 6 CFR 1.4. 49 Stat. 115) [FCA Order 122, Mar. 7, 1936] (50 Stat. 5; 12 U.S.C., Sup., 1020i) [FCA Order 174, Feb. 5, 1937] (50 Stat. 5, 52 Stat. 26; 12 U.S.C., Sup., 1020i, 10200 note) [FCA Order 212, Feb. 4, 1938]

Subchapter B-Federal Land Banks, National Farm Loan Associations, Federal Farm Mortgage Corporation and Joint Stock Land Banks

[blocks in formation]

10.19

10.20

10.21

Owners of undivided interests
(including partners).
Husband and wife.

Aliens.

Individuals taking title from a
corporation (bona fide owner-
ship required).

10.22 Corporations.

10.23 Livestock corporations.

Definitions in connection with
loans for certain purposes

10.36 "Equipment" and "Improve

ment" defined.

Use of loan proceeds

10.47 Agreement as to use of loan proceeds.

Basis of appraisal

10.213 Normal agricultural value as basis of appraisal.

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Sec.

Farm unit

10.257 Farm unit; required area and
yield of farm.
Computing maximum

10.321

loanable

amount

Method of computing maximum amount loanable.

Special interest rates

10.330-50 Special interest rates on certain Federal land bank loans.

Insurance regulations

10.331 Buildings on which insurance must be maintained by mortgagor; amount and type of in

surance.

10.332 Additional insurance requirable. 10.333 Insurance to be maintained when full amount cannot be provided. 10.334 Reduced insurance to be maintained under certain other circumstances.

10.335 Acceptable insurers.

10.336 Losses to be made payable to
land bank.

10.337 Mortgagor's option to use loss
proceeds for reconstruction.
10.338 Subsequent owners.
10.339 Exercise of mortgagor's option to
use loss proceeds.

10.340 Reconstruction of improvements
in different form.
10.341 Evidence that mortgagor can
supply additional funds; mean-
ing of term "reconstruction".
10.342 Evidence required for disburse-
ment of loss proceeds.

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