Speculation in stocks or commodities affecting crop insurance
Official text prohibited actmental stateif conditionpenaltylegal term
Whoever, while acting in any official capacity in the administration of any Act of Congress relating to crop insurance or to the Federal Crop Insurance Corporation speculates in any agricultural commodity or product thereof, to which such enactments apply, or in contracts relating thereto, or in the stock or membership interests of any association or corporation engaged in handling, processing, or disposing of any such commodity or product, shall be or imprisoned not more than two years, or both.
History: (June 25, 1948, ch. 645, 62 Stat. 790 (PDF, 39 MB); Pub. L. 103–322, title XXXIII, §330016(1)(L), Sept. 13, 1994, 108 Stat. 2147 (PDF, 52 MB).)
Simplified explanation
It is a federal crime for anyone acting officially in running federal crop insurance programs to speculate in the farm products covered, in related contracts, or in stock of companies that handle those products.