§ 1425a. Producers of honey; loan obligations and liabilities
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(a)Loan forfeiture limitation A producer of honey may satisfy the producer’s obligation to repay a loan, or a portion of a loan, made to the producer under section 1446h 1 of this title by forfeiting the collateral for the loan, or portion of the loan, only if the value of the collateral forfeited, when taken together with the value of the collateral forfeited on any other loan or loans of the person for such crop of honey under section 1446h 1 of this title, does not exceed $200,000 in the 1991 crop year, $175,000 in the 1992 crop year, $150,000 in the 1993 crop year, and $125,000 in each of the 1994 and subsequent crop years: Provided, however, That the loan forfeiture limitation provided by this section shall not be applicable for any crop year for which the Secretary does not permit producers of honey to repay the price support loans at a level determined under section 1446h(b)(2) 1 of this title.
(b)Liability for nonforfeitable part of obligation The producer of honey shall be personally liable for the repayment of a loan or loans made to the producer under the program for the crop of honey involved, with respect to that portion of the loan or loans for which satisfaction of the loan by forfeiture, as provided in subsection (a), is prohibited.
(c)Extent of personal liability The loan contracts of the Commodity Credit Corporation entered into with producers of honey shall clearly indicate the extent to which a producer of honey may be personally liable for repayment of a loan under this section.
(d)Promulgation of regulations The Commodity Credit Corporation may issue such regulations as the Corporation deems necessary to carry out this section. The regulations shall provide for the attribution of the value of collateral forfeited on loans described in subsection (a).
(Oct. 31, 1949, ch. 792, title IV, § 405A, as added Pub. L. 100–460, title VI, § 634(b), Oct. 1, 1988, 102 Stat. 2263; amended Pub. L. 101–624, title X, § 1002, title XI, § 1161(d), Nov. 28, 1990, 104 Stat. 3490, 3521.)
Connections7 cite this · traces to 6
Cited by 7 sections · top 5
statutes-at-large
- Public Law 101–624To extend and revise agricultural price support and related programs, to provide for agricultural export, resource conservation, farm credit, and agricultural research and related programs, to ensure consumers an abundance of food and fiber at reasonable prices, and for other purposes
- Public Law 100–460Making appropriations for Rural Development, Agriculture, and Related Agencies programs for the fiscal year ending September 30, 1989, and for other purposes
statute-compilations
Traces to 6 documents
U.S. Code
- Price support levels for designated nonbasic agricultural commodities§ 1446
- Price support§ 1421
- Suspension of permanent price support authority§ 9092
- Suspension of permanent price support authority§ 8782
- Suspension of permanent price support authority§ 7992
- Suspension and repeal of permanent price support authority§ 7301
22 references not yet in our index
- 1
- Oct. 31, 1949, ch. 792
- Pub. L. 100–460, title VI, § 634(b)
- 102 Stat. 2263
- Pub. L. 101–624, title X, § 1002
- 104 Stat. 3490
- Section 1446h of this title
- Pub. L. 104–127, title I, § 171(b)(2)(H)
- 110 Stat. 938
- Pub. L. 101–624, § 1161(d)
- Pub. L. 101–624, § 1002(1)
- section 1446h of this title
- Pub. L. 101–624, § 1002(2)
- Pub. L. 101–624
- section 1171 of Pub. L. 101–624
- Pub. L. 104–37, title VII, § 718
- 109 Stat. 331
- Pub. L. 104–37
- Pub. L. 103–330, title VII, § 723
- 108 Stat. 2469
- Pub. L. 103–111, title VII, § 728
- 107 Stat. 1081
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§ 1425a
Producers of honey; loan obligations and liabilities
Stat.×3
U.S.C.×3
Stat. Comp.×1
Cite1
ActOct. 31, 1949, ch. 792
Pub. L.Pub. L. 100–460, title VI, § 634(b)
Stat.102 Stat. 2263
Pub. L.Pub. L. 101–624, title X, § 1002
Cites 28 · showing 11Cited by 7 across 3 sources