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Understanding the Agriculture Marketing Act and Its Significance
Definition & Meaning
The Agriculture Marketing Act of 1929 is a significant federal law in the United States designed to support agricultural cooperatives. Its primary goal is to stabilize farm prices through social control of agricultural marketing. The Act led to the establishment of the Federal Farm Board, which was allocated a revolving fund of approximately half a billion dollars to facilitate its operations. In 1930, the Board initiated its own marketing cooperatives to manage the buying and holding of key agricultural products such as cotton, grain, and wool. This Act was later amended by the Agricultural Adjustment Act to further enhance its objectives.
Table of content
Legal Use & context
The Agriculture Marketing Act is primarily used in the context of agricultural law and economic regulation. It plays a crucial role in promoting the interests of farmers and agricultural cooperatives. Legal practitioners may encounter this Act when dealing with issues related to agricultural pricing, cooperative formation, and federal support for farming initiatives. Users can manage related forms or procedures with the assistance of legal templates available through resources like US Legal Forms.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
One example of the Agriculture Marketing Act in action is when a group of farmers forms a cooperative to collectively market their cotton. By pooling resources, they can negotiate better prices and manage inventory more effectively. This cooperative approach helps stabilize prices and ensures a fair return for the farmers involved. (hypothetical example)
Relevant laws & statutes
In addition to the Agriculture Marketing Act of 1929, the Agricultural Adjustment Act is a key piece of legislation that amended the original Act. It introduced further measures to regulate agricultural production and pricing.
Comparison with related terms
Term
Definition
Differences
Agricultural Adjustment Act
A law aimed at regulating agricultural production to stabilize prices.
Focuses more on production control, while the Agriculture Marketing Act emphasizes marketing and cooperatives.
Federal Farm Board
An agency established by the Agriculture Marketing Act to support farmers.
The Board is a component of the Act, functioning under its provisions.
Common misunderstandings
What to do if this term applies to you
If you are a farmer or part of an agricultural cooperative, consider exploring how the Agriculture Marketing Act can benefit your operations. You may want to consult with a legal professional for tailored advice. Additionally, users can find useful legal form templates on US Legal Forms to assist in navigating cooperative agreements and marketing strategies.
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