Browse Arkansas Code titles and sections
7 U.S.C. § 7233 — Term of loans
Federal law — U.S. Code and appendices · legal_authorities
**(a) Term of loan** 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim) 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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 7233
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 4ecd1190c9f27acbb8038692701fda0afdac359d8b665e27eda2db6f68203da4. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_61e5f1cde060dece2d6c39c2
Source file: Laws/federal/codes/united-states-code/title-7/section-7233-term-of-loans--0f31055c40.md
Pages: Not recorded – Not recorded
Passage SHA-256: d5c4dbc2b2b89f6b59bdcb70893921260746f899418e1da96dfebeb21cfeabe2
Source location: Title 7, Chapter 100, § 7233; chapter-100-agricultural-market-transition.md
Stored source content
**(a) Term of loan** 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim) 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.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Nonrecourse loans available** For each of the 1996 through 2002 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. The loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under [section 7232 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7232&num=0&edition=prelim) for the loan commodity.
**(b) Eligible production** The following production shall be eligible for a marketing assistance loan under subsection (a):
(1) In the case of a marketing assistance loan for a contract commodity, any production by a producer on a farm containing eligible cropland covered by a production flexibility contract.
(2) In the case of a marketing assistance loan for extra long staple cotton and oilseeds, any production.
**(c) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section3811&num=0&edition=prelim) et seq.) and applicable wetland protection requirements under subtitle C of title XII of the Act ([16 U.S.C. 3821](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section3821&num=0&edition=prelim) et seq.) during the term of the loan.
**(d) Additional outlays prohibited** The Secretary shall carry out this subchapter in such a manner that there are no additional outlays under this subchapter as a result of the reconstitution of a fa
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 7231
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 1977
TITLE 7—AGRICULTURE
§ 7234
staple cotton, as determined by the Secretary,
during 3 years of the 5-year period ending July
31 of the year preceding the year in which the
crop is planted, excluding the year in which
the average price was the highest and the year
in which the average price was the lowest in
the period; but
(2) not more than $0.7965 per pound.
(e) Rice
The loan rate for a marketing assistance loan
under section 7231 of this title for rice shall be
$6.50 per hundredweight.
(f) Oilseeds
(1) Soybeans
The loan rate for a marketing assistance
loan under section 7231 of this title for soy-
beans shall be—
(A) not less than 85 percent of the simple
average price received by producers of soy-
beans, as determined by the Secretary, dur-
ing the marketing years for the immediately
preceding 5 crops of soybeans, excluding the
year in which the average price was the
highest and the year in which the average
price was the lowest in the period; but
(B) not less than $4.92 or more than $5.26
per bushel.
(2) Sunflower seed, canola, rapeseed, safflower,
mustard seed, and flaxseed
The loan rate for a marketing assistance
loan under section 7231 of this title for sun-
flower seed, canola, rapeseed, safflower, mus-
tard seed, and flaxseed, individually, shall be—
(A) not less than 85 percent of the simple
average price received by producers of sun-
flower seed, individually, as determined by
the Secretary, during the marketing years
for the immediately preceding 5 crops of
sunflower seed, individually, excluding the
year in which the average price was the
highest and the year in which the average
price was the lowest in the period; but
(B) not less than $0.087 or more than $0.093
per pound.
(3) Other oilseeds
The loan rates for a
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 7233
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.