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7 U.S.C. § 1702 — Agreements regarding eligible countries and private entities

submitted 72 years ago by ch. 469 to r/title-7-AGRICULTURE · 105 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Secretary must prioritize certain agricultural-export agreements with developing countries. Private-entity agreements must reasonably assure repayment.

(a) The Secretary shall prioritize agreements exporting agricultural commodities to developing countries that are taking economic-development measures to improve food security and agriculture, reduce poverty, and promote broad-based fair and sustainable development, and that show the greatest food need. (b) An agreement with a private entity must require security or other provisions the Secretary finds necessary to reasonably and adequately assure repayment of the financing.

the actual law source: uscode.house.gov ↗public domain
(a) Priority

In selecting agreements to be entered into under this subchapter, the Secretary shall give priority to agreements providing for the export of agricultural commodities to developing countries that—

(1)

are undertaking measures for economic development purposes to improve food security and agricultural development, alleviate poverty, and promote broad-based equitable and sustainable development; and

(2)

demonstrate the greatest need for food.

(b) Private entities

An agreement entered into under this subchapter with a private entity shall require such security, or such other provisions as the Secretary determines necessary, to provide reasonable and adequate assurance of repayment of the financing extended to the private entity.

Source credit: (July 10, 1954, ch. 469, title I, § 102, 68 Stat. 455; Apr. 25, 1955, ch. 27, 69 Stat. 44; Pub. L. 88–638, § 1(3), Oct. 8, 1964, 78 Stat. 1035; Pub. L. 89–808, § 2(B), Nov. 11, 1966, 80 Stat. 1526; Pub. L. 90–436, § 9, July 29, 1968, 82 Stat. 451; Pub. L. 95–88, title II, § 201(a), Aug. 3, 1977, 91 Stat. 545; Pub. L. 95–113, title XII, § 1201, Sept. 29, 1977, 91 Stat. 955; Pub. L. 101–624, title XV, § 1512, Nov. 28, 1990, 104 Stat. 3634; Pub. L. 104–127, title II, § 203, Apr. 4, 1996, 110 Stat. 951; Pub. L. 110–246, title III, § 3005, June 18, 2008, 122 Stat. 1822.)

history & why it existsrecord from the source credit
  • 1954Enacted · Act of July 10, 1954, ch. 469 · 68 Stat. 455
  • 1955Amended · Act of Apr. 25, 1955, ch. 27 · 69 Stat. 44
  • 1964Amended · Pub. L. 88-638 · 78 Stat. 1035
  • 1966Amended · Pub. L. 89-808 · 80 Stat. 1526
  • 1968Amended · Pub. L. 90-436 · 82 Stat. 451
  • 1977Amended · Pub. L. 95-88 · 91 Stat. 545
  • 1977Amended · Pub. L. 95-113 · 91 Stat. 955
  • 1990Amended · Pub. L. 101-624 · 104 Stat. 3634
  • 1996Amended · Pub. L. 104-127 · 110 Stat. 951
  • 2008Amended · Pub. L. 110-246 · 122 Stat. 1822

A history note hasn’t been published yet. The record shows enactment by ch. 469 on 1954-07-10.

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