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CITE

    18 USC Sec. 658                                             01/05/2009

EXPCITE

    TITLE 18 - CRIMES AND CRIMINAL PROCEDURE
    PART I - CRIMES
    CHAPTER 31 - EMBEZZLEMENT AND THEFT

HEAD

    Sec. 658. Property mortgaged or pledged to farm credit agencies

STATUTE

      Whoever, with intent to defraud, knowingly conceals, removes,
    disposes of, or converts to his own use or to that of another, any
    property mortgaged or pledged to, or held by, the Farm Credit
    Administration, any Federal intermediate credit bank, or the
    Federal Crop Insurance Corporation, the Secretary of Agriculture
    acting through the Farmers Home Administration or successor agency,
    the Rural Development Administration or successor agency, any
    production credit association organized under sections 1131-1134m
    of Title 12, any regional agricultural credit corporation, or any
    bank for cooperatives, shall be fined under this title or
    imprisoned not more than five years, or both; but if the value of
    such property does not exceed $1,000, he shall be fined under this
    title or imprisoned not more than one year, or both.

SOURCE

    (June 25, 1948, ch. 645, 62 Stat. 729; May 24, 1949, ch. 139, Sec.
    12, 63 Stat. 91; Oct. 31, 1951, ch. 655, Sec. 21, 65 Stat. 718;
    July 26, 1956, ch. 741, title I, Sec. 109, 70 Stat. 667; Pub. L. 87-
    353, Sec. 3(r), Oct. 4, 1961, 75 Stat. 774; Pub. L. 101-624, title
    XXIII, Sec. 2303(e), Nov. 28, 1990, 104 Stat. 3981; Pub. L. 103-
    322, title XXXIII, Secs. 330004(7), 330016(1)(H), (K), Sept. 13,
    1994, 108 Stat. 2141, 2147; Pub. L. 104-294, title VI, Sec. 606(a),
    Oct. 11, 1996, 110 Stat. 3511; Pub. L. 106-78, title VII, Sec. 767,
    Oct. 22, 1999, 113 Stat. 1174.)

HISTORICAL AND REVISION NOTES

                                 1948 ACT
      Based on sections 1026(c) and 1514(d) of title 7, U.S.C., 1940
    ed., Agriculture, and section 1138d(d) of title 12, U.S.C., 1940
    ed., Banks and Banking (June 16, 1933, ch. 98, Sec. 64, 48 Stat.
    269; Jan. 31, 1934, ch. 7, Sec. 13, 48 Stat. 347; July 22, 1937,
    ch. 517, title IV, Sec. 52(c), 50 Stat. 532; Feb. 16, 1938, ch. 30,
    title V, Sec. 514(d), 52 Stat. 76; Aug. 14, 1946, ch. 964, Sec. 3,
    60 Stat. 1064).
      To avoid reference to another section the words "the Farm Credit
    Administration, any Federal intermediate credit bank, the Federal
    Farm Mortgage Corporation, Federal Crop Insurance Corporation,
    Farmers' Home Corporation, or any production credit corporation or
    corporation in which a production credit corporation holds stock,
    any regional agricultural credit corporation, or any bank for
    cooperatives" were substituted for the words "or any corporation
    referred to in subsection (a) of this section."
      The punishment provision was completely rewritten. The $2,000
    fine of section 1026(c) of title 7, U.S.C., 1940 ed., and the 2-
    year penalty of that section, section 1514(d) of title 7, U.S.C.,
    1940 ed., and section 1138(d) of title 12, U.S.C., 1940 ed., were
    incongruous in juxtaposition with other sections of this chapter
    and were therefore increased to $5,000 and 5 years. (See sections
    656 and 657 of this title.)
      The smaller punishment for an offense involving $100 or less was
    added. (See reviser's notes under sections 641 and 645 of this
    title.)
      Minor changes were made in phraseology.
                                 1949 ACT
      [Section 12] conforms section 658 of title 18 U.S.C., to
    administrative practice which in turn was modified to comply with
    congressional policy. (See note to sec. 11 [of 1949 Act, set out in
    Legislative History note under section 657 of title 18]).

REFERENCES IN TEXT

      Section 1131 of Title 12, included within the reference to
    sections 1131 to 1134m of Title 12, was repealed by Pub. L. 89-554,
    Sec. 8(a), Sept. 6, 1966, 80 Stat. 648.
      Sections 1131a, 1131c to 1131g, 1131g-2 to 1131i, 1134 to 1134m
    of Title 12, included within the reference to sections 1131 to
    1134m of Title 12, were repealed by Pub. L. 92-181, title V, Sec.
    5.26(a), Dec. 10, 1971, 85 Stat. 624.
      Sections 1131a-1 and 1131j of Title 12, included within the
    reference to sections 1131 to 1134m of Title 12, are omitted from
    the Code. Section 1131a-1 of Title 12, was from the Department of
    Agriculture and Farm Credit Administration Appropriation Act, 1957,
    and was not repeated in subsequent appropriation acts. Section
    1131j was covered by former section 1131g-2 of Title 12, prior to
    its repeal by Pub. L. 92-181, title V, Sec. 5.26(a), Dec. 10, 1971,
    85 Stat. 624.
      Sections 1131b and 1131g-1 of Title 12, included within the
    reference to sections 1131 to 1134m of Title 12, were repealed by
    act July 26, 1956, ch. 741, title 1, Sec. 105(c), (q), 70 Stat.
    665, 666.

AMENDMENTS

      1999 - Pub. L. 106-78 inserted "or successor agency" after
    "Farmers Home Administration" and after "Rural Development
    Administration".
      1996 - Pub. L. 104-294 substituted "$1,000" for "$100".
      1994 - Pub. L. 103-322, Sec. 330016(1)(H), (K), substituted
    "fined under this title" for "fined not more than $5,000" after
    "cooperatives, shall be" and for "fined not more than $1,000" after
    "he shall be".
      Pub. L. 103-322, Sec. 330004(7), struck out "Farmers' Home
    Corporation," after "Crop Insurance Corporation,".
      1990 - Pub. L. 101-624 substituted "Farmers Home Administration,
    the Rural Development Administration" for "Farmers' Home
    Administration".
      1961 - Pub. L. 87-353 struck out reference to the Federal Farm
    Mortgage Corporation.
      1956 - Act July 26, 1956, struck out property of any production
    credit association in which a Production Credit Corporation holds
    stock.
      1951 - Act Oct. 31, 1951, covered all production credit
    associations instead of only those in which a Production Credit
    Corporation holds stock.
      1949 - Act May 24, 1949, made section applicable to the Secretary
    of Agriculture acting through the Farmers' Home Administration.
                     EFFECTIVE DATE OF 1956 AMENDMENT
      Amendment by act July 26, 1956, effective January 1, 1957, see
    section 202(a) of act July 26, 1956.

EXCEPTIONS FROM TRANSFER OF FUNCTIONS

      Functions of Corporations of Department of Agriculture; boards of
    directors and officers of such corporations; Advisory Board of
    Commodity Credit Corporation; and Farm Credit Administration or any
    agency, officer, or entity of, under, or subject to supervision of
    said Administration excepted from functions of officers, agencies,
    and employees transferred to Secretary of Agriculture by Reorg.
    Plan No. 2 of 1953, Sec. 1, eff. June 4, 1953, 18 F.R. 3219, 67
    Stat. 633, set out in the Appendix to Title 5, Government
    Organization and Employees.
                        FARM CREDIT ADMINISTRATION
      Establishment of Farm Credit Administration as independent
    agency, and other changes in status, functions, etc., see Ex. Ord.
    No. 6084 set out preceding section 2241 of Title 12, Banks and
    Banking. See also section 2001 et seq. of Title 12.