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
This section covers term of loans. It states the rules and conditions that apply.
(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 must 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 must 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* cannot extend the term of a marketing assistance loan for any loan commodity.
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.
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.
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.)
- 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.
all 0 arguments · sorted by: best
no arguments yet — make the first case