2014 US Code
Title 7 - Agriculture (Sections 1 - 9097)
Chapter 106 - Commodity Programs (Sections 7901 - 8002)
Subchapter II - Marketing Assistance Loans and Loan Deficiency Payments (Sections 7931 - 7939)
Sec. 7931 - Availability of nonrecourse marketing assistance loans for loan commodities
Publication Title | United States Code, 2012 Edition, Supplement 2, Title 7 - AGRICULTURE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 7 - AGRICULTURE CHAPTER 106 - COMMODITY PROGRAMS SUBCHAPTER II - MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS Sec. 7931 - Availability of nonrecourse marketing assistance loans for loan commodities |
Contains | section 7931 |
Date | 2014 |
Laws In Effect As Of Date | January 5, 2015 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 107-171, title I, §1201, May 13, 2002, 116 Stat. 155. |
Statutes at Large References | 99 Stat. 1354 110 Stat. 888 116 Stat. 155 |
Public and Private Laws | Public Law 99-198, Public Law 104-127, Public Law 107-171 |
Download PDF
For each of the 2002 through 2007 crops of each loan commodity, the Secretary shall make available to producers on a farm nonrecourse marketing assistance loans for loan commodities produced on the farm.
(2) Terms and conditionsThe marketing assistance loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under section 7932 of this title for the loan commodity.
(b) Eligible productionThe producers on a farm shall be eligible for a marketing assistance loan under subsection (a) for any quantity of a loan commodity produced on the farm.
(c) Treatment of certain commingled commoditiesIn carrying out this subchapter, the Secretary shall make loans to producers on a farm that would be eligible to obtain a marketing assistance loan, but for the fact the loan commodity owned by the producers on the farm commingled with loan commodities of other producers in facilities unlicensed for the storage of agricultural commodities by the Secretary or a State licensing authority, if the producers obtaining the loan agree to immediately redeem the loan collateral in accordance with section 166 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7286).
(d) Compliance with conservation and wetlands requirementsAs a condition of the receipt of a marketing assistance loan under subsection (a), the producer shall comply with applicable conservation requirements under subtitle B of title XII of the Food Security Act of 1985 (16 U.S.C. 3811 et seq.) and applicable wetland protection requirements under subtitle C of title XII of the Act (16 U.S.C. 3821 et seq.) during the term of the loan.
(e) Termination of superseded loan authorityNotwithstanding section 131 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7231), nonrecourse marketing assistance loans shall not be made for the 2002 crop of loan commodities under subtitle C of title I of such Act [7 U.S.C. 7231 et seq.].
(Pub. L. 107–171, title I, §1201, May 13, 2002, 116 Stat. 155.)
REFERENCES IN TEXTThis subchapter, referred to in subsec. (c), was in the original "this subtitle", meaning subtitle B (§§1201–1209) of title I of Pub. L. 107–171, May 13, 2002, 116 Stat. 155, which is classified principally to this subchapter. For complete classification of subtitle B to the Code, see Tables.
The Food Security Act of 1985, referred to in subsec. (d), is Pub. L. 99–198, Dec. 23, 1985, 99 Stat. 1354, as amended. Subtitles B and C of title XII of the Act are classified generally to subchapters II (§3811 et seq.) and III (§3821 et seq.), respectively, of chapter 58 of Title 16, Conservation. For complete classification of this Act to the Code, see Short Title of 1985 Amendment note set out under section 1281 of this title and Tables.
The Federal Agriculture Improvement and Reform Act of 1996, referred to in subsec. (e), is Pub. L. 104–127, Apr. 4, 1996, 110 Stat. 888, as amended. Subtitle C of title I of the Act is classified generally to subchapter III (§7231 et seq.) of chapter 100 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 7201 of this title and Tables.
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.