7 USC 1723 - Generation and use of currencies by private voluntary organizations and cooperatives

U.S Code last checked for updates: Apr 03, 2025

§ 1723.

Generation and use of currencies by private voluntary organizations and cooperatives

(a)

Local sale and barter of commodities

(b)

Description of intended uses

(c)

Use

Proceeds generated from any partial or full sale or barter of commodities by a private voluntary organization or cooperative under a non-emergency food assistance agreement under this subchapter may—

(1)

be used to transport, store, distribute, and otherwise enhance the effectiveness of the use of agricultural commodities provided under this subchapter;

(2)

be used to implement income-generating, community development, health, nutrition, cooperative development, agricultural, and other developmental activities within 1 or more recipient countries or within 1 or more countries in the same region; or

(3)

be invested, and any interest earned on such investment may be used, for the purposes for which the assistance was provided to that organization, without further appropriation by Congress.

(July 10, 1954, ch. 469, title II, § 203, 68 Stat. 458;

cite as: 7 USC 1723