Public Law 119-102 (07/12/2026)

7 U.S.C. § 7233

Term of loans

Section text and notes

(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 (, , .)