Nonrecourse loans available
Availability
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.
Terms and conditions
section 7932 of this titleThe marketing assistance loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under for the loan commodity.
Eligible production
The 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.
Treatment of certain commingled commodities
7 U.S.C. 7286In 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 ().
Compliance with conservation and wetlands requirements
16 U.S.C. 381116 U.S.C. 3821As 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 ( et seq.) and applicable wetland protection requirements under subtitle C of title XII of the Act ( et seq.) during the term of the loan.
Termination of superseded loan authority
7 U.S.C. 72317 U.S.C. 7231Notwithstanding section 131 of the Federal Agriculture Improvement and Reform Act of 1996 (), nonrecourse marketing assistance loans shall not be made for the 2002 crop of loan commodities under subtitle C of title I of such Act [ et seq.].
Pub. L. 107–171, title I, § 1201116 Stat. 155 (, , .)
Editorial Notes
References in Text
Pub. L. 107–171116 Stat. 155 This subchapter, referred to in subsec. (c), was in the original “this subtitle”, meaning subtitle B (§§ 1201–1209) of title I of , , , which is classified principally to this subchapter. For complete classification of subtitle B to the Code, see Tables.
Pub. L. 99–19899 Stat. 1354 section 1281 of this titleThe Food Security Act of 1985, referred to in subsec. (d), is , , . 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 and Tables.
Pub. L. 104–127110 Stat. 888 section 7201 of this titleThe Federal Agriculture Improvement and Reform Act of 1996, referred to in subsec. (e), is , , . 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 and Tables.