[Federal Register Volume 62, Number 239 (Friday, December 12, 1997)]
[Notices]
[Pages 65406-65408]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-32544]


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DEPARTMENT OF AGRICULTURE

Commodity Credit Corporation


Bylaws Of Corporation

    The Bylaws of the Commodity Credit Corporation, amended November 3, 
1997, are as follows:

Offices

    1. The principal office of the Corporation shall be in the City of 
Washington, District of Columbia, and the Corporation shall also have 
offices at such other places as it may deem necessary or desirable in 
the conduct of its business.

Seal

    2. There is impressed below the official seal which is hereby 
adopted for the Corporation. The seal may be used by causing it or its 
facsimile to be impressed, affixed, or reproduced.
[GRAPHIC] [TIFF OMITTED] TN12DE97.002

Meetings Of The Board

    3. Meetings of the Board of Directors (Board) shall be held, 
whenever necessary, at the U.S. Department of Agriculture in the City 
of Washington, D.C. All meetings of the Board shall be held in 
accordance with provisions of the Government in the Sunshine Act (5 
U.S.C. 552b). Meetings of the Board may be called at any time by the 
Chairman, the Vice Chairman, or the President. The Executive Vice 
President may call a meeting at the written request of any five 
Members. Notice of meetings shall be given either orally or in writing. 
Any Member may waive in writing any notice of a meeting, whether before 
or after the time of the meeting, and the presence of a Member at any 
meeting shall constitute a waiver of notice of such meeting. Any and 
all business may be transacted at any meeting unless otherwise 
indicated in the notice thereof.
    4. The Secretary of Agriculture shall serve as Chairman of the 
Board. The Deputy Secretary of Agriculture shall serve as Vice Chairman 
of the Board and, in the absence or unavailability of the Chairman, 
shall preside at meetings of the Board. In the absence or 
unavailability of the Chairman and the Vice Chairman, the President of 
the Corporation shall preside at meetings of the Board. In the absence 
or unavailability of the Chairman, the Vice Chairman, and the 
President, the Members present at the meeting shall designate a 
Presiding Officer.
    5. At any meeting of the Board a quorum shall consist of five 
Members. The act of a majority of the Members present at any meeting at 
which there is a quorum shall be the act of the Board.
    6. The General Counsel of the Department of Agriculture, whose 
office shall perform all legal work of the Corporation, and the 
Associate General Counsel for International Affairs, Commodity Programs 
and Food Assistance Programs, shall serve as General Counsel and 
Associate General Counsel of the Corporation, respectively.

Compensation of Board Members

    7. The compensation of each Member shall be prescribed by the 
Secretary of Agriculture. Any Member who holds another office or 
position within the Federal Government shall receive compensation at 
the rate provided for such other office or position in lieu of 
compensation as a Member.

Officers

    8. The officers of the Corporation shall be: a President; an 
Executive Vice President; Vice Presidents; Deputy Vice Presidents; a 
Secretary; a Deputy Secretary; an Assistant Secretary; a Controller; a 
Treasurer; a Chief Accountant; and such additional

[[Page 65407]]

officers as the Secretary of Agriculture may appoint.
    9. The Under Secretary of Agriculture for Farm and Foreign 
Agricultural Services shall be the ex officio President of the 
Corporation.
    10. The following officials of the Farm Service Agency (FSA), the 
Foreign Agricultural Service (FAS), the Food and Consumer Service 
(FCS), the Natural Resources Conservation Service (NRCS), and the 
Agricultural Marketing Service (AMS) shall be ex officio officers of 
the Corporation:

                                                                        
                                                                        
                                                                        
Administrator, FSA........................  Executive Vice President.   
Administrator, AMS........................  Vice President.             
Administrator, FAS........................  Vice President.             
Administrator, FCS........................  Vice President.             
Chief, NRCS...............................  Vice President.             
General Sales Manager, FAS................  Vice President.             
Associate Administrator, FSA..............  Vice President.             
Deputy Administrator, Commodity             Deputy Vice President.      
 Operations, FSA.                                                       
Deputy Administrator, Management, FSA.....  Deputy Vice President.      
Deputy Administrator, Farm Programs, FSA..  Deputy Vice President.      
Director, Economic and Policy Analysis      Deputy Vice Pesident.       
 Staff, FSA.                                                            
Associate Chief, NRCS.....................  Deputy Vice President.      
Deputy Chief, Natural Resources             Deputy Vice President.      
 Conservation Programs, NRCS.                                           
Deputy Chief, Management and Strategic      Deputy Vice President.      
 Planning, NRCS.                                                        
Executive Assistant to the Administrator,   Secretary.                  
 FSA.                                                                   
Office of the Administrator, FSA..........  Deputy Secretary.           
Office of the Administrator, FSA..........  Assistant Secretary.        
Director, Financial Management Division,    Controller.                 
 FSA.                                                                   
Deputy Director, Financial Management       Treasurer.                  
 Division,FSA.                                                          
Chief, Financial Accounting and Reporting   Chief Accountant.           
 Branch, Financial Management Division,                                 
 FSA.                                                                   
                                                                        

    The person occupying, in an acting capacity, any position listed in 
this paragraph shall, during occupancy of such position, act as the 
corresponding officer of the Corporation.
    11. Officers who do not hold office ex officio shall be appointed 
by the Secretary of Agriculture and shall hold office until their 
respective appointments shall have been terminated.

The President

    12. The President shall have general supervision and direction of 
the Corporation, its officers and employees.

The Vice Presidents

    13. (a) The Executive Vice President shall be the chief executive 
officer of the Corporation. Except as provided in paragraphs (b), (c), 
(d), (e), and (f) below, the Executive Vice President shall have 
general supervision and direction of: the preparation of policies and 
programs for submission to the Board; the administration of the 
policies and programs approved by the Board; and the day-to-day conduct 
of the business of the Corporation and its officers and employees.
    (b) The Vice President who is the Administrator, FAS, shall be 
responsible for preparation for submission by the Executive Vice 
President to the Board of those policies and programs of the 
Corporation which are for performance through the facilities and 
personnel of FAS. This Vice President shall have responsibility for the 
administration of those operations of the Corporation, under policies 
and programs approved by the Board, which are carried out through 
facilities and personnel of FAS, and shall perform such special duties 
and exercise such powers as may be prescribed, from time to time, by 
the Secretary of Agriculture, the Board, or the President of the 
Corporation.
    (c) The Vice President who is the Administrator, AMS, shall be 
responsible for the administration of those operations of the 
Corporation, under policies and programs approved by the Board, which 
are carried out through facilities and personnel of AMS.
    This Vice President shall perform such special duties and exercise 
such powers as may be prescribed, from time-to-time, by the Secretary 
of Agriculture, the Board, or the President of the Corporation.
    (d) The Vice President who is the General Sales Manager, FAS, shall 
be responsible for preparation for submission by the Executive Vice 
President to the Board of those policies and programs of the 
Corporation which are for performance through the facilities and 
personnel of FAS. This Vice President shall also have responsibility 
for the administration of those operations of the Corporation, under 
the policies and programs approved by the Board, which are carried out 
through facilities and personnel of FAS, and shall perform such special 
duties and exercise such powers as may be prescribed, from time-to-
time, by the Secretary of Agriculture, the Board, or the President of 
the Corporation.
    (e) The Vice President who is the Administrator, FCS, shall be 
responsible for the administration of those operations of the 
Corporation, under policies and programs approved by the Board, which 
are carried out through facilities and personnel of FCS. This Vice 
President shall perform such special duties and exercise such powers as 
may be prescribed, from time-to-time, by the Secretary of Agriculture, 
the Board, or the President of the Corporation.
    (f) The Vice President who is the Chief, NRCS, shall be responsible 
for preparation for submission by the Executive Vice President to the 
Board of those policies and programs of the Corporation which are for 
performance through the facilities and personnel of NRCS. This Vice 
President shall have responsibility for the administration of those 
operations of the Corporation, under policies and programs approved by 
the Board, which are carried out through facilities and personnel of 
NRCS, and shall perform such special duties and exercise such powers as 
may be prescribed, from time-to-time, by the Secretary of Agriculture, 
the Board, or the President of the Corporation.
    14. The Vice President who is the Associate Administrator, FSA, and 
the Deputy Vice Presidents shall assist the Executive Vice President to 
such extent as the President or the Executive Vice President shall 
prescribe, and shall perform such special duties and exercise such 
powers as may be prescribed, from time-to-time, by the Secretary of 
Agriculture, the Board, the President of the Corporation, or the 
Executive Vice President of the Corporation.

The Secretary

    15. The Secretary shall: attend and keep the minutes of all 
meetings of the Board; serve all required notices of meetings of the 
Board; sign all papers and instruments that require the Secretary's 
signature; attest the authenticity of and affix the seal of the 
Corporation upon any instrument requiring such action; and perform such 
other duties and exercise such other powers as are commonly incidental 
to the Office of Secretary as well as such other duties as may be 
prescribed, from time-to-time, by the President or the Executive Vice 
President.

[[Page 65408]]

The Controller

    16. The Controller shall: have charge of all fiscal and accounting 
affairs of the Corporation, including all borrowings and related 
financial arrangements and claims activities, and perform such other 
duties as may be prescribed, from time-to-time, by the President or the 
Executive Vice President.

The Treasurer

    17. (a) The Treasurer shall: assist the Controller in the 
administration of all fiscal and accounting affairs of the Corporation, 
including all borrowings and related financial arrangements and claims 
activities, and perform such other duties relating to the fiscal and 
accounting affairs of the Corporation as may be prescribed, from time-
to-time, by the Controller, the President, or the Executive Vice 
President.
    (b) The Treasurer, under the general supervision and direction of 
the Controller, shall: supervise the receipt and disbursement of all 
funds of the Corporation; designate qualified persons to authorize 
disbursement of corporate funds; be responsible for documents relating 
to the general financing operations of the Corporation; and supervise 
the claims activities of the Corporation.

The Chief Accountant

    18. The Chief Accountant, under the general supervision and 
direction of the Controller, shall: have charge of the general 
accounting books and accounts of the Corporation and the preparation of 
financial statements and reports; be responsible for the issuance of 
policies and practices related to accounting matters and procedures, 
including those dealing with official inventories and records; and 
perform such other duties relating to the fiscal and accounting affairs 
of the Corporation as may be prescribed, from time-to-time, by the 
Controller.

Other Officials

    19. Except as otherwise authorized by the Secretary of Agriculture 
or the Board, the operations of the Corporation shall be carried out 
through the facilities and personnel of FSA, FAS, FCS, AMS, and NRCS in 
accordance with any assignment of functions and responsibilities made 
by the Secretary of Agriculture and, within the respective agency or 
office, by the Administrator of FSA, FAS, FCS, or AMS, the Chief NRCS, 
or the General Sales Manager, FAS.
    20. The Directors of the divisions of FSA and the Directors of the 
Kansas City Commodity Office and the Kansas City Management Office of 
FSA shall be Contracting Officers of the Corporation and executives of 
the Corporation in general charge of the activities of the Corporation 
carried out through their respective divisions or offices in accordance 
with these Bylaws and applicable programs, policies, and procedures.

Contracts of the Corporation

    21. Contracts of the Corporation relating to any of its activities 
may be executed in its name by the Secretary of Agriculture or the 
President. The Vice Presidents, the Deputy Vice Presidents, the 
Controller, the Treasurer, and the Directors of the divisions of FSA 
and the Directors of the Kansas City Commodity Office and the Kansas 
City Management Office of FSA may execute contracts relating to the 
activities of the Corporation for which they are respectively 
responsible.
    22. The Executive Vice President and, subject to the written 
approval by the Executive Vice President of each appointment, the Vice 
Presidents, the Deputy Vice Presidents, the Controller, and the 
Directors of the divisions of FSA and the Directors of the Kansas City 
Commodity Office and the Kansas City Management Office of FSA may 
appoint, by written instrument, such Contracting Officers as they deem 
necessary, who may, to the extent authorized by such instrument, 
execute contracts in the name of the Corporation. A copy of each such 
instrument shall be filed with the Secretary of the Corporation.
    23. Appointments of Contracting Officers may be revoked by written 
instruction or instrument by the Executive Vice President or the 
official who made the appointment. A copy of each instrument shall be 
filed with the Secretary of the Corporation.
    24. Employees of FSA, FAS, FCS, AMS and NRCS may execute contracts 
on behalf of the Corporation as delegated to them in accordance with 
applicable dockets of the Corporation, program regulations, or 
delegations approved by the President or Vice Presidents of the 
Corporation.

Annual report

    25. The Executive Vice President shall be responsible for the 
preparation of an annual report of the activities of the Corporation, 
which shall be filed with the Secretary of Agriculture and with the 
Board.

Amendments

    26. These Bylaws may be altered, amended, or repealed by the 
Secretary of Agriculture or the Board.

Approval Of Board Action

    27. The actions of the Board shall be subject to the approval of 
the Secretary of Agriculture.

    I, Juanita B. Daniels, Acting Secretary, Commodity Credit 
Corporation, do hereby certify that the above is a full, true, and 
correct copy of the Bylaws of Commodity Credit Corporation, as 
amended November 3, 1997.

    In witness whereof I have officially subscribed my name and have 
caused the corporate seal of the said Corporation to be fixed this 
third day of November, 1997.
Juanita B. Daniels,
Acting Secretary, Commodity Credit Corporation.
[FR Doc. 97-32544 Filed 12-11-97; 8:45 am]
BILLING CODE 3410-05-P