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Code · STATUTE-COMPILATIONS · Farm Security and Rural Investment Act of 2002 · Sec. 1201

Sec. 1201. AVAILABILITY OF NONRECOURSE MARKETING ASSISTANCE LOANS FOR LOAN COMMODITIES

343 words·~2 min read·/statute-compilations/comps-10236/sec-1201

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## SEC. 1201 AVAILABILITY OF NONRECOURSE MARKETING ASSISTANCE LOANS FOR LOAN COMMODITIES **[**[7 U.S.C. 7931](/us/usc/t7/s7931)**]** ###
(a)Nonrecourse Loans Available ####
(1)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. ####
(2)Terms and conditions The marketing assistance loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under section 1202 for the loan commodity. ###
(b)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. ###
(c)Treatment of Certain Commingled Commodities In carrying out this subtitle, 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 Requirements As 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(e)Termination of Superseded Loan Authority Notwithstanding section 131 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7231), nonrecourse marketing assistance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.
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Sec. 1201
AVAILABILITY OF NONRECOURSE MARKETING ASSISTANCE LOANS FOR LOAN COMMODITIES
U.S.C.§ 7931
U.S.C.§ 7286
U.S.C.§ 3811
U.S.C.§ 3821
U.S.C.§ 7231
Cites 5Cited by 0 across 0 sources
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