Public Law 119-88 (05/04/2026)

7 U.S.C. § 7233

Term of loans

(a)

Term of loan

section 7231 of this titleIn the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under 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.

Pub. L. 104–127, title I, § 133110 Stat. 907 (, , .)