CHAPTER 118

An Act to provide for the application for return and future administra,
tion of assets of the Virginia Rural Rehabilitation Corporation. 3511

Approved February 25, 1952

Be it enacted by the General Assembly of Virginia: _
, 1. The Commissioner of Agriculture and Immigration of the Com
monwealth of Virginia is hereby designated as the Commonwealth officia
to make application to and receive from the Secretary of Agriculture o:
the United States, or any other proper Federal official, pursuant and sub-
ject to the provisions of Public Law 499, 81st Congress, approved May 3,
1950, the trust assets, either funds or property, held by the United States
as trustee in behalf of the Virginia Rural Rehabilitation Corporation.

§ 2. The Commissioner of Agriculture and Immigration, with the
advice of the Board of Agriculture, is authorized to enter into agreements
with the Secretary of Agriculture of the United States pursuant to § 2(f)
of the aforesaid act of the Congress of the United States, upon such terms
and conditions and for such periods of time as may be mutually agreeable,
authorizing the Secretary of Agriculture of the United States to accept,
administer, expend and use in the State of Virginia all or any part of
such trust assets for carrying out the purposes of Titles I and II of the
Bankhead-Jones Farm Tenant Act, in accordance with the applicable pro-
visions of Title IV thereof, as now or hereafter amended, and to do any
and all things necessary to effectuate and carry out the purposes of said
agreements.

§ 8. Notwithstanding any other provisions of law, funds and the
proceeds of the trust assets which are not authorized to be administered
by the Secretary of Agriculture of the United States under the provisions
of § 2 of this Act, shall be paid to and received by the Commissioner of
Agriculture and Immigration and by him paid into the State treasury
for credit to an account to be known as the “Virginia Farm Loan Revolv-
ing Account.” The entire amount so received, together with any moneys
appropriated for such purposes, is hereby appropriated out of the Vir-
ginia Farm Loan Revolving Account for expenditure by the Commissioner
of Agriculture and Immigration for such of the rural rehabilitation pur-
poses permissible under the charter of the now dissolved Virginia Rural
Rehabilitation Corporation, as may from time to time be agreed upon by
the Commissioner of Agriculture and Immigration and the Secretary of
Agriculture of the United States, subject to the applicable provisions of
said Public Law 499, or for the purposes of § 2 of this Act. Such expen-
diture shall be paid by the State Treasurer on warrants of the Comp-
troller issued on vouchers signed by the Commissioner of Agriculture and
Immigration.

§ 4. The Commissioner of Agriculture and Immigration is author-
ized and empowered to:

(a) Collect, compromise, adjust or cancel claims and obligations
arising out of or administered under this act or under any mortgage,
lease, contract or agreement entered into or administered pursuant to this
act and, if in his judgment, necessary and advisable, pursue the same to
final collection in any court having jurisdiction.

(b) Bid for and purchase at any execution, foreclosure or other sale,
or otherwise to acquire property upon which the Commissioner of Agri-
culture and Immigration has a lien by reason of judgment or execution,
or which is pledged, mortgaged, conveyed or which otherwise secures any
loan or other indebtedness owing to or acquired by the Commissioner of
Agriculture and Immigration under this act, and

(c) Accept title to any property so purchased or acquired; to operate
or lease such property for such period as may be deemed necessary to
protect the investment therein; and to sell or otherwise dispose of such
property in a manner consistent with the provisions of this act.

The authority herein contained may be delegated to the Secretary of
Agriculture of the United States with respect to funds or assets author-
ized to be administered and used by him under agreements entered into
pursuant to § 2 of this act.

§ 5. The United States and the Secretary of Agriculture thereof,
shall be held free from liability by virtue of the transfer of the assets to
the Commissioner of Agriculture and Immigration of the Commonwealth
of Virginia pursuant to this act.

f any provision of this act, or the application thereof to any
person or circumstances, is held invalid, the remainder of this act, and
the application of such provision to other persons or circumstances, ‘shall
not be affected thereby.

2. An emergency exists and this act is in force and effect from its
passage.