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7 U.S.C. § 8733 — Term of loans

submitted 18 years ago by Pub. L. 110-234 to r/title-7-AGRICULTURE · 65 words · no verdicts yet

in plain englishAI-generated · not legal advice

A marketing assistance loan lasts nine months, starting the month after it's made. The Secretary cannot extend this term for any commodity.

(a) Term of loan. Every marketing assistance loan under section 8731, for any loan commodity, lasts 9 months. That term starts on the first day of the month after the month the loan is made. (b) Extensions prohibited. The Secretary cannot extend the term of a marketing assistance loan for any loan commodity.
the actual law source: uscode.house.gov ↗public domain
(a) Term of loan

In the case of each loan commodity, a marketing assistance loan under section 8731 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) Extensions prohibited

The Secretary may not extend the term of a marketing assistance loan for any loan commodity.

Source credit: (Pub. L. 110–234, title I, § 1203, May 22, 2008, 122 Stat. 956; Pub. L. 110–246, § 4(a), title I, § 1203, June 18, 2008, 122 Stat. 1664, 1684.)

history & why it existsrecord from the source credit
  • 2008Enacted · Pub. L. 110-234 · 122 Stat. 956
  • 2008Amended · Pub. L. 110-246 · 122 Stat. 1664, 1684

A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-234 on 2008-05-22.

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