
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC5902]

 
                          TITLE 7--AGRICULTURE
 
                          CHAPTER 88--RESEARCH
 
 SUBCHAPTER VI--ALTERNATIVE AGRICULTURAL RESEARCH AND COMMERCIALIZATION
 
Sec. 5902. Alternative Agricultural Research and 
        Commercialization Corporation
        

(a) Establishment

    To carry out this subchapter, there is created a body corporate to 
be known as the Alternative Agricultural Research and Commercialization 
Corporation, which shall be an agency of the United States, within the 
Department of Agriculture, subject to the general supervision and 
direction of the Secretary, except as specifically provided for in this 
subchapter.

(b) Purpose

    The purpose of the Corporation is to--
        (1) expedite the development and market penetration of 
    industrial, nonfood, nonfeed products from agricultural and forestry 
    materials; and
        (2) assist the private sector in bridging the gap between the 
    results of research into nonfood, nonfeed products and the 
    commercialization of the research.

(c) Place of incorporation

    The Corporation shall be incorporated in the District of Columbia.

(d) Central office

    The Secretary shall provide facilities for the principal office of 
the Corporation within the Washington, D.C., metropolitan area.

(e) Wholly-owned Government corporation

    The Corporation shall be considered a wholly-owned government \1\ 
corporation in accordance with chapter 91 of title 31.
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    \1\ So in original. Probably should be capitalized.
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(f) General powers

    In addition to any other powers granted to the Corporation under 
this subchapter, the Corporation--
        (1) shall have succession in its corporate name;
        (2) may adopt, alter, and rescind any bylaw and adopt and alter 
    a corporate seal, which shall be judicially noticed;
        (3) may enter into any agreement or contract with a person or 
    private or governmental agency, except that the Corporation shall 
    not provide any financial assistance unless specifically authorized 
    by this subchapter;
        (4) may lease, purchase, accept a gift or donation of, or 
    otherwise acquire, use, own, hold, improve, or otherwise deal in or 
    with, and sell, convey, mortgage, pledge, lease, exchange, or 
    otherwise dispose of, any property or interest in property, as the 
    Corporation considers necessary in the transaction of the business 
    of the Corporation, except that this paragraph shall not provide 
    authority for carrying out a program of real estate investment;
        (5) may sue and be sued in the corporate name of the 
    Corporation, except that--
            (A) no attachment, injunction, garnishment, or similar 
        process shall be issued against the Corporation or property of 
        the Corporation; and
            (B) exclusive original jurisdiction shall reside in the 
        district courts of the United States, but the Corporation may 
        intervene in any court in any suit, action, or proceeding in 
        which the Corporation has an interest;

        (6) may independently retain legal representation;
        (7) may provide for and designate such committees, and the 
    functions of the committees, as the Corporate Board considers 
    necessary or desirable;
        (8) may indemnify the Executive Director and other officers of 
    the Corporation, as the Corporate Board considers necessary and 
    desirable, except that the Executive Director and officers shall not 
    be indemnified for an act outside the scope of employment;
        (9) may, with the consent of any board, commission, independent 
    establishment, or executive department of the Federal Government, 
    including any field service, use information, services, facilities, 
    officials, and employees in carrying out this subchapter, and pay 
    for the use, which payments shall be transferred to the applicable 
    appropriation account that incurred the expense;
        (10) may obtain the services and fix the compensation of any 
    consultant and otherwise procure temporary and intermittent services 
    under section 3109(b) of title 5;
        (11) may use the United States mails on the same terms and 
    conditions as the Executive agencies of the Federal Government;
        (12) shall have the rights, privileges, and immunities of the 
    United States with respect to the right to priority of payment with 
    respect to debts due from bankrupt, insolvent, or deceased 
    creditors;
        (13) may collect or compromise any obligations assigned to or 
    held by the Corporation, including any legal or equitable rights 
    accruing to the Corporation;
        (14) shall determine the character of, and necessity for, 
    obligations and expenditures of the Corporation and the manner in 
    which the obligations and expenditures shall be incurred, allowed, 
    and paid, subject to provisions of law specifically applicable to 
    Government corporations;
        (15) may make final and conclusive settlement and adjustment of 
    any claim by or against the Corporation or a fiscal officer of the 
    Corporation;
        (16) may sell assets, loans, and equity interests acquired in 
    connection with the financing of projects funded by the Corporation; 
    and
        (17) may exercise all other lawful powers necessarily or 
    reasonably related to the establishment of the Corporation to carry 
    out this subchapter and the powers, purposes, functions, duties, and 
    authorized activities of the Corporation.

(g) Specific powers

    To carry out this subchapter, the Corporation may--
        (1) make grants to, and enter into cooperative agreements and 
    contracts with, eligible applicants for research, development, and 
    demonstration projects in accordance with section 5904 of this 
    title;
        (2) make loans and interest subsidy payments and invest venture 
    capital in accordance with section 5905 of this title;
        (3) collect and disseminate information concerning State, 
    regional, and local commercialization projects;
        (4) search for new nonfood, nonfeed products that may be 
    produced from agricultural commodities and for processes to produce 
    the products;
        (5) administer, maintain, and dispense funds from the Fund to 
    facilitate the conduct of activities under this subchapter; and
        (6) engage in other activities incident to carrying out the 
    functions of the Corporation.

(Pub. L. 101-624, title XVI, Sec. 1658, Nov. 28, 1990, 104 Stat. 3757; 
Pub. L. 102-237, title IV, Sec. 405(a), Dec. 13, 1991, 105 Stat. 1864; 
Pub. L. 104-127, title VII, Sec. 722(a), Apr. 4, 1996, 110 Stat. 1113.)


                               Amendments

    1996--Pub. L. 104-127 amended section generally, substituting 
present provisions for provisions relating to establishment of 
Alternative Agricultural Research and Commercialization Center, 
including provisions relating to functions, appointment, compensation 
and responsibilities of Director, staff, and experts and consultants.
    1991--Subsec. (d)(2), (3). Pub. L. 102-237 substituted ``; and'' for 
period at end of par. (2) and a period for ``; and'' at end of par. (3).


             Business Plan and Feasibility Study and Report

    Section 730 of Pub. L. 104-127 provided that:
    ``(a) Business Plan.--Not later than 180 days after the date of 
enactment of this Act [Apr. 4, 1996], the Alternative Agricultural 
Research and Commercialization Corporation established by section 1658 
of the Food, Agriculture, Conservation, and Trade Act of 1990 [7 U.S.C. 
5902] shall--
        ``(1) develop a 5-year business plan pursuant to section 
    1659(c)(1)(E) of the Act [7 U.S.C. 5903(c)(1)(E)]; and
        ``(2) submit the plan to the Secretary of Agriculture, the 
    Committee on Agriculture of the House of Representatives, and the 
    Committee on Agriculture, Nutrition, and Forestry of the Senate.
    ``(b) Feasibility Study and Report.--
        ``(1) Study.--The Secretary of Agriculture shall conduct a study 
    of, and prepare a report on, the continued feasibility of the 
    Alternative Agricultural Research and Commercialization Corporation. 
    In conducting the study, the Secretary shall examine options for 
    privatizing the Corporation and converting the Corporation to a 
    Government-sponsored enterprise.
        ``(2) Report.--Not later than December 31, 2001, the Secretary 
    shall transmit the report required by paragraph (1) to the Committee 
    on Agriculture of the House of Representatives and the Committee on 
    Agriculture, Nutrition, and Forestry of the Senate.''

                  Section Referred to in Other Sections

    This section is referred to in sections 5901, 5903, 7624 of this 
title.
