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7 U.S.C. § 7233 — Term of loans

submitted 30 years ago by Pub. L. 104-127 to r/title-7-AGRICULTURE · 112 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

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

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

history & why it existsrecord from the source credit
  • 1996Enacted · Pub. L. 104-127 · 110 Stat. 907

A history note hasn’t been published yet. The record shows enactment by Pub. L. 104-127 on 1996-04-04.

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