7 U.S.C. § 7217 — Transfer or change of interest in lands subject to contract

FEDERAL · 7 U.S.C. · Chapter SUBCHAPTER II—PRODUCTION FLEXIBILITY CONTRACTS

Transfer or change of interest in lands subject to contract

7 U.S.C. § 7217

ChapterSUBCHAPTER II—PRODUCTION FLEXIBILITY CONTRACTS

This text of 7 U.S.C. § 7217 (Transfer or change of interest in lands subject to contract) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

7 U.S.C. § 7217.

Text

(a)Termination Except as provided in subsection (c), a transfer of (or change in) the interest of an owner or producer subject to a contract in the contract acreage covered by the contract shall result in the termination of the contract with respect to the acreage, unless the transferee or owner of the acreage agrees to assume all obligations under the contract. The termination shall be effective on the date of the transfer or change.

(b)Modification At the request of the transferee or owner, the Secretary may modify the contract if the modifications are consistent with the objectives of this subchapter, as determined by the Secretary.

(c)Exception If an owner or producer who is entitled to a contract payment dies, becomes incompetent, or is otherwise unable to receive the contract paym

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(a) Termination
Except as provided in subsection (c), a transfer of (or change in) the interest of an owner or producer subject to a contract in the contract acreage covered by the contract shall result in the termination of the contract with respect to the acreage, unless the transferee or owner of the acreage agrees to assume all obligations under the contract. The termination shall be effective on the date of the transfer or change.
(b) Modification
At the request of the transferee or owner, the Secretary may modify the contract if the modifications are consistent with the objectives of this subchapter, as determined by the Secretary.
(c) Exception
If an owner or producer who is entitled to a contract payment dies, becomes incompetent, or is otherwise unable to receive the contract payment, the Secretary shall make the payment, in accordance with regulations prescribed by the Secretary.

Source Credit

History

(Pub. L. 104–127, title I, §117, Apr. 4, 1996, 110 Stat. 904.)

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Bluebook (online)

7 U.S.C. § 7217, Counsel Stack Legal Research, https://law.counselstack.com/usc/7/7217.