7 U.S.C. § 7233
Current through P.L. 118-64 (published on www.congress.gov on 05/24/2024), except for [P. L. 118-63]
In the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under section 7231 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.
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.
The Secretary may not extend the term of a marketing assistance loan for any loan commodity.
7 U.S.C. § 7233
- Secretary
- The term "Secretary" means the Secretary of Agriculture.
- extra long staple cotton
- The term "extra long staple cotton" means cotton that-(A) is produced from pure strain varieties of the Barbadense species or any hybrid thereof, or other similar types of extra long staple cotton, designated by the Secretary, having characteristics needed for various end uses for which United States upland cotton is not suitable and grown in irrigated cotton-growing regions of the United States designated by the Secretary or other areas designated by the Secretary as suitable for the production of the varieties or types; and(B) is ginned on a roller-type gin or, if authorized by the Secretary, ginned on another type gin for experimental purposes.
- loan commodity
- The term "loan commodity" means each contract commodity, extra long staple cotton, and oilseed.