7 U.S.C. § 7233 — Term of loans

FEDERAL · 7 U.S.C. · Chapter 100

Term of loans

Current through Pub. L. 119-102

Title 7 — Agriculture·Ch. 100 — AGRICULTURAL MARKET TRANSITION·Subch. III

(a)Term of loan In the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under section 7231 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made.

(b)Special rule for cotton A marketing assistance loan for upland cotton or extra long staple cotton shall have a term of 10 months beginning on the first day of the month in which the loan is made.

(c)Extensions prohibited The Secretary may not extend the term of a marketing assistance loan for any loan commodity.

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(a) Term of loan
In the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under section 7231 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made.
(b) Special rule for cotton
A marketing assistance loan for upland cotton or extra long staple cotton shall have a term of 10 months beginning on the first day of the month in which the loan is made.
(c) Extensions prohibited
The Secretary may not extend the term of a marketing assistance loan for any loan commodity.

7 U.S.C. § 7233 (Term of loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 104–127, title I, §133, Apr. 4, 1996, 110 Stat. 907.)

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