cfr_sections
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| section_id ▼ | title_number | title_name | chapter | subchapter | part_number | part_name | subpart | subpart_name | section_number | section_heading | agency | authority | source_citation | amendment_citations | full_text |
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| 7:7:10.1.2.2.14.1.330.1 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.1 Applicability and interest. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 71 FR 32422, June 6, 2006; 74 FR 15649, Apr. 7, 2009; 80 FR 119, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | (a) The regulations in this subpart are applicable to crops of barley, small and large chickpeas, corn, grain sorghum, lentils, oats, dry peas, peanuts, rice, wheat, wool, mohair, oilseeds and other crops designated by Commodity Credit Corporation (CCC). These regulations specify the general provisions under which Marketing Assistance Loans (MALs) and Loan Deficiency Payments (LDPs) will be administered by CCC. Additional terms and conditions are in the additional documents required to receive MALs and LDPs. In any case in which money must be refunded to CCC in connection with this part, interest will be due to run from the date of disbursement of the sum to be refunded. This provision will apply, unless waived by the Deputy Administrator, irrespective of any other rule. (b)(1) The basic loan rates, the schedule of premiums and discounts, and forms applicable to the MAL and LDP Programs for the commodities specified in paragraph (a) of this section are available in Farm Service Agency (FSA) State and county offices. The forms for use in these programs will be prescribed by CCC. (2) LDPs will be available for unshorn pelts, hay and silage. (c) MALs and LDPs will not be available for any commodity produced on land owned or otherwise in the possession of the United States if such land is occupied without the consent of the United States. (d) Producers who produced eligible loan commodities are eligible for MALs or LDPs. (e) Adjusted Gross Income (AGI) provisions specified in part 1400 of this chapter apply to this part. | |||
| 7:7:10.1.2.2.14.1.330.10 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.10 Loan repayment rates. | CCC | [74 FR 15652, Apr. 7, 2009, as amended at 80 FR 122, 129, Jan. 2, 2015] | (a) For the applicable crop years of barley, corn, grain sorghum, oats, wheat, dry peas, lentils, chickpeas, oilseeds, wool, mohair, and other crops as designated by CCC (other than peanuts, long grain rice, medium grain rice, and confectionery and each other kind of sunflower seed (other than oil sunflower seed)), a producer may repay a nonrecourse MAL at a rate that is the lesser of: (2) A rate (as determined by the Secretary) that is calculated based on average market prices for the loan commodity during a preceding 30-day period and that the Secretary has determined will minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries; or (3) A rate that the Secretary may develop using alternative methods for calculating a repayment rate for a loan commodity that the Secretary determines will: Minimize potential loan forfeitures; minimize the accumulation of stocks of the commodity by the Federal Government; minimize the cost incurred by the Federal Government in storing the commodity; allow the commodity produced in the U.S. to be marketed freely and competitively, both domestically and internationally; and minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries. (b) To the extent practicable, CCC will determine and announce repayment rates under paragraphs (a)(2) and (a)(3) of this section based upon market prices at appropriate U.S. markets as determined by CCC and these repayment rates may be adjusted to reflect grade, type, quality, location, and other factors for each crop of a commodity as follows: (1) On a weekly basis in each county for oilseeds, except canola, flaxseed, soybeans, and sunflower seed; (2) On a daily basis in each county for barley, canola, corn, flaxseed, grain sorghum, oats, soybeans, sunflower seed and wheat; and (3) On a weekly basis regionally for dry peas, lentils, chickpeas, wool and mohair. (1) A producer may repay a nonrecourse MAL for peanuts at a rate that is the lesser of: (i) The l… | |||
| 7:7:10.1.2.2.14.1.330.11 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.11 Spot checks. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 80 FR 122, Jan. 2, 2015] | (a) CCC may inspect the collateral for MALs, and producers with such MALs must allow CCC reasonable access to the farm and storage facility as necessary to conduct “spot check” collateral inspections. Spot checks are intended to verify that the quality and quantity of farm-stored commodities pledged as collateral for MALs are maintained by the producer. (b) LDPs are selected for spot check to ensure that all eligibility requirements, as required by CCC, are met in order to receive such LDP. (c) Producers must present production evidence for commodities acceptable to CCC when a spot check is conducted. | |||
| 7:7:10.1.2.2.14.1.330.12 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.12 Production evidence. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 80 FR 122, Jan. 2, 2015] | (a) Producers who redeem MAL collateral at the prevailing world market price for rice, or the alternative repayment rate for all other commodities, as CCC determines or receives an LDP may be required to provide CCC with: (1) Evidence of production of the collateral such as: (i) Evidence of sales; (ii) Delivery evidence; (iii) Load summaries from warehouse, processor, or buyer; (iv) Warehouse receipts including EWRs; (v) Paid measurement service; (vi) Spot check measurements with paid measurement service; (vii) Cleaning tickets for seed; (viii) Scale tickets, if not issued by the producer for the producer's own production; (ix) Core tests for wool and mohair; or (x) Maximum eligible quantity as determined by CCC. (2) The storage location of the collateral that has not been otherwise disposed of and access to such collateral; (3) Permission to inspect, examine, and make copies of the records and other written data as deemed necessary to verify the eligibility of the producer and commodity; (4) In the case of wool and mohair, permission to examine and inspect the sheep herd; and (5) Any other evidence requested by the county FSA service center or the Deputy Administrator, FSA. (b) A producer who fails to provide acceptable evidence of production is be required to repay the market loan gain or LDP and charges, plus interest, as determined by CCC. | |||
| 7:7:10.1.2.2.14.1.330.13 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.13 Special loan deficiency payments. | CCC | [71 FR 32424, June 6, 2006, as amended at 74 FR 15654, Apr. 7, 2009; 80 FR 129, Jan. 2, 2015] | (a)(1) Eligible producers of unshorn pelts produced from live sheep and hay and silage derived from an eligible loan commodity as provided in § 1421.5 are eligible to request unshorn pelt, hay, and silage quantities for a LDP under subpart C of this part. (2) Unshorn pelts, hay, and silage derived from an eligible loan commodity are not eligible to be pledged as collateral to obtain a MAL under subpart B of this part. | |||
| 7:7:10.1.2.2.14.1.330.14 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.14 Obtaining peanut MALs. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 80 FR 123, Jan. 2, 2015] | (a) Peanuts MALs to individual producers may be obtained through: (1) County offices; or (2) A designated Marketing Association or a CMA approved by CCC. (b) The MAL documents will not be presented for disbursement unless the peanuts pledged as collateral for the MAL are eligible as specified in § 1421.8. If the peanuts were ineligible at the time of the disbursement, the total amount disbursed under MAL, or as an LDP, plus charges and interest will be refunded promptly. | |||
| 7:7:10.1.2.2.14.1.330.2 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.2 Administration. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15650, Apr. 7, 2009; 80 FR 120, 130, Jan. 2, 2015] | (a) The MAL and LDP Programs will be administered under the general supervision of the Executive Vice President, CCC and will be carried out in the field by FSA State and county committees, respectively. (b) State and county committees, and representatives and employees thereof, cannot modify or waive any requirement of this part, except as provided in paragraph (e) of this section. (c) The State committee will take any required action not taken by the county committee. The State committee will also: (1) Correct or require correction of an action taken by a county committee that is not in compliance with this part; or (2) Require a county committee to not take an action or implement a decision that is not under the regulations of this part. (d) The Executive Vice President, CCC, or a designee, may determine any question arising under these programs, or reverse or modify a determination made by a State or county committee. (e) The Deputy Administrator for Farm Programs, FSA, may authorize State and county committees to waive or modify deadlines and other program requirements in cases where lateness or failure to meet such other requirements does not adversely affect the operation of the MAL and LDP Programs. (f) A representative of CCC may execute MAL and LDP applications and related documents only under the terms and conditions determined and announced by CCC. Any document not executed under such terms and conditions, including any purported execution before the date authorized by CCC, will be null and void. | |||
| 7:7:10.1.2.2.14.1.330.3 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.3 Definitions. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 68 FR 37940, June 26, 2003; 70 FR 33799, June 10, 2005; 74 FR 15650, Apr. 7, 2009; 80 FR 120, 129, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | The definitions in this section apply for all purposes of program administration. Terms defined in part 718 of this title and parts 1412 and 1425 of this chapter also apply, except where they conflict with the definitions in this section. Administrative County Office is the FSA County Office where a producer's FSA records are maintained. Basic loan rate means the loan rate established by CCC for a commodity before any adjustment for premiums and discounts. Calling a loan is accelerating or moving forward the maturity date of an outstanding MAL. A MAL can be called when, as determined by CCC, the terms and conditions of the MAL note and security agreement are violated, a producer incorrectly certifies a loan quantity or makes any fraudulent representation with respect to obtaining a loan, removing or disposing of a farm-stored commodity pledged as collateral for a loan without authorization, to protect CCC's interest, or in emergency situations. CCC means the Commodity Credit Corporation. Charges means all fees, costs, and expenses incurred in insuring, carrying, handling, storing, conditioning, and marketing the commodity tendered to CCC for a MAL. Charges also include any other expenses incurred by CCC in protecting CCC's or the producer's interest in such commodity. Chickpeas means any chickpea that meets the definition of a chickpea according to the Grain Inspection, Packers and Stockyards Administration (GIPSA), Federal Grain Inspection Service (FGIS). (1) Small chickpea falls below a 20/64th sieve. (2) Large chickpea stays above a 20/64th sieve. CMA means a cooperative marketing association that is subject to regulations in Part 1425 of this chapter. COC means the FSA county committee. Commodity certificate exchange means the exchange, as provided for in § 1421.111, of commodities pledged as collateral for a marketing assistance loan at a rate determined by CCC in the form of a commodity certificate bearing a dollar denomination. Crop means with respect to a year, commodities harvested … | |||
| 7:7:10.1.2.2.14.1.330.4 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.4 Eligible producers. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15650, Apr. 7, 2009; 75 FR 19193, Apr. 14, 2010; 80 FR 120, 129, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | (a) To be an eligible producer, the producer must: (1) Be a person, partnership, association, corporation, estate, trust, or other legal entity that produces an eligible commodity as a landowner, landlord, tenant, or sharecropper, or in the case of rice, furnishes land, labor, water, or equipment for a share of the rice crop. With respect to wool and mohair, the producer must own, other than through a security interest mortgage, or lien, the sheep and goats that produced the wool and mohair respectively for a period of not less than 30 days. (2) Comply with all provisions of this part and, as applicable: (i) 7 CFR part 12—Highly Erodible Land and Wetland Conservation; (ii) 7 CFR part 707—Payments Due Persons Who Have Died, Disappeared, or Have Been Declared Incompetent; (iii) 7 CFR part 718—Provisions Applicable to Multiple Programs; (iv) 7 CFR part 996—Minimum Quality and Handling Standards for Domestic and Imported Peanuts Marketed in the United States; (v) 7 CFR part 1400—Payment Limitation & Payment Eligibility; (vi) 7 CFR part 1402—Policy for Certain Commodities Available for Sale; (vii) 7 CFR part 1403—Debt Settlement Policies and Procedures; (viii) 7 CFR part 1405—Loans, Purchases, and Other Operations; (ix) 7 CFR part 1412—Agriculture Risk Coverage, Price Loss Coverage, and Cotton Transition Assistance Programs; and (x) 7 CFR part 1423—Commodity Credit Corporation Approved Warehouses. (3) Have made an acreage certification with respect to all the cropland on the farm. (b) A receiver or trustee of an insolvent or bankrupt debtor's estate, an executor or an administrator of a deceased person's estate, a guardian of an estate of a ward or an incompetent person, and trustees of a trust is considered to represent the insolvent or bankrupt debtor, the deceased person, the ward or incompetent, and the beneficiaries of a trust, respectively. The production of the receiver, executor, administrator, guardian, or trustee is considered to be the production of the person or estate represented by the rece… | |||
| 7:7:10.1.2.2.14.1.330.5 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.5 Eligible commodities. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 71 FR 32422, June 6, 2006; 74 FR 15651, Apr. 7, 2009; 75 FR 19193, Apr. 14, 2010; 80 FR 121, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | (a) Commodities eligible to be pledged as collateral for a MAL made under this part are: (1) Barley, corn, grain sorghum, oats, peanuts, soybeans, oilseeds, wheat, dry peas, lentils, chickpeas, rice and other crops designated by CCC produced and mechanically harvested in the United States; (2) Dual purpose sorghum varieties as determined by CCC; and (3) Wool and mohair produced and shorn from live animals in the United States. (b) A commodity produced on land owned or otherwise in the possession of the United States that is occupied without the consent of the United States is not an eligible commodity. (c)(1) To be an eligible commodity, the commodity must be merchantable for food, feed, or other uses determined by CCC and must not contain mercurial compounds, toxin producing molds, or other substances poisonous to humans or animals. A commodity containing vomitoxin, aflatoxin, or Aspergillus mold may not be pledged for a nonrecourse MAL made under this part, except as provided by CCC in the MAL note and security agreement. (2) The determination of eligibility for rice includes class, grade, grading factor, milling yields, and other quality factors and will be based upon the U.S. Standards for Rice as applied to rough rice whether or not such determinations are made on the basis of an official inspection. (3) The determination of eligibility for peanuts includes type, quality, and quantity. (4) With regard to barley, canola, corn, flaxseed, grain sorghum, oats, rice, soybeans, sunflower seed for extraction of oil, wheat, and other commodities designated by CCC, the determination of eligibility will be based upon the Official U.S. Standards for Grain: U.S. Standards for Whole Dry Peas, Split Peas, and Lentils for dry peas and lentils; and the U.S. Standards for Beans for chickpeas, whether or not such determinations are made on the basis of an official inspection. (5) With regard to hull-less barley, hull-less oats, mustard seed, rapeseed, safflower seed, and sunflower seed used for a purpose other than t… | |||
| 7:7:10.1.2.2.14.1.330.6 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.6 Beneficial interest. | CCC | [71 FR 32422, June 2, 2006, as amended at 71 FR 51426, Aug. 30, 2006; 71 FR 60413, Oct. 13, 2006; 74 FR 15651, Apr. 7, 2009; 80 FR 121, Jan. 2, 2015] | (a) To be eligible to receive MALs and loan deficiency payments, a producer must have beneficial interest in the commodity that is tendered to CCC for a MAL or is requested for a LDP. For the purposes of this part, the term “beneficial interest” refers to a determination by CCC that a person has title to and control of the commodity that is tendered to CCC as collateral for a MAL or of the commodity that will be used to determine a LDP. A determination of whether a person has beneficial interest in a commodity is made by CCC in accordance with this part and is not based upon a determination under any State law or any other regulation of a Federal agency. (b) Except as provided in paragraph (e) of this section, when requesting a MAL for a loan commodity, in order to have beneficial interest in the commodity tendered as collateral for the MAL, a person must: (1) Be the producer of the commodity as determined in accordance with § 1421.4; (2) Have had ownership of the commodity from the time it was planted (with respect to wool and mohair from time of shearing) through the earlier the date the MAL was repaid or the maturity date of the MAL; (3) Have control of the commodity from the time of planting (for wool and mohair from the time of shearing) through the maturity date of the MAL. To have control of the commodity, such person must have complete decision-making authority regarding whether the commodity will be tendered as collateral for a MAL, when the MAL will be repaid, or if the collateral will be forfeited to CCC in satisfaction of the MAL obligations of such person, and where the commodity will be maintained during the term of the MAL; (4) Not have received any payment from any party with respect to the commodity; and (5) If the commodity has been physically delivered to a location other than a location owned or under the total control of the producer, have delivered the commodity to a warehouse authorized in accordance with § 1421.103(c). Delivery of the commodity to a location other than to such an aut… | |||
| 7:7:10.1.2.2.14.1.330.7 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.7 Requesting MALs and LDPs. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15651, Apr. 7, 2009; 80 FR 121, Jan. 2, 2015] | (a) A producer may apply for a MAL or LDP at any FSA county office. The receiving FSA county office will forward the MAL or LDP request to the administrative county office, as specified in part 718 of this title, that is responsible for administrating programs for the farm on which the commodity was produced. The administrative county office will process and approve the MAL or LDP. (b) A MAL or LDP may be requested in person, by mail, or by electronic format designated by CCC. Forms prescribed by CCC may be obtained from the FSA Web site. (c) To receive a MAL or LDP for an eligible commodity, a producer must execute a note and security agreement or LDP application on or before the applicable final loan availability date, as follows: (1) March 31 of the year following the year in which the following crops are normally harvested: barley, canola, flaxseed, oats, rapeseed, crambe, sesame seed, and wheat. (2) May 31 of the year following the year in which the following crops are normally harvested: corn, grain sorghum, mustard seed, rice, safflower, soybeans, sunflower seed, dry peas, lentils, and chickpeas. (3) January 31 of the year following the year in which peanuts are normally harvested or wool and mohair are normally sheared. | |||
| 7:7:10.1.2.2.14.1.330.8 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.8 Eligible quantity. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15651, Apr. 7, 2009; 80 FR 121, 129, Jan. 2, 2015] | (a) With respect to MALs and LDPs for: (1) Farm-stored commodities, all determinations of weight and quality, except as otherwise agreed to or required by CCC, will be determined at the time of delivery of the commodity to CCC or at the time the LDP application is filed for measured requests, if applicable, or selected for spot-check for certified requests. (2) Warehouse-stored commodities, all determinations of grade, weight and quality, except as otherwise agreed to or required by CCC, will be determined at the time the MAL is forfeited to CCC. (b)(1) A producer may, before the final MAL availability date for obtaining a MAL for a commodity, repledge as collateral for securing a MAL any commodity that had been previously pledged as collateral for a MAL, except with respect to: (i) Commodities that have been redeemed at the prevailing world market price for rice, or the alternative repayment rate for all other commodities, as determined by CCC. (ii) Commodities on which a LDP has been received. (2) The commodity repledged as security for the subsequent MAL will have the same maturity date, under § 1421.101 as the original MAL. (c)(1) The MAL documents will not be presented for disbursement unless the commodity subject to the note and security agreement is an eligible harvested commodity, is in existence, and is in authorized farm or warehouse storage, as determined by CCC. If the commodity was not either an eligible commodity, in existence, or in authorized storage at the time of disbursement, the total amount disbursed under the MAL and charges plus interest must be refunded promptly by the producer. (2) CCC will limit the total quantity for MAL or LDP disbursement to 100 percent of the quantity of such MAL or LDP application. A producer may obtain a separate MAL or LDP before the final loan availability date for the commodity for quantities in excess of 100 percent of such quantity if such quantities are otherwise eligible. | |||
| 7:7:10.1.2.2.14.1.330.9 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | A | Subpart A—General | § 1421.9 Basic loan rates. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15651, Apr. 7, 2009; 80 FR 122, 129, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | (a) Basic MAL rates for a commodity may be established on a National, State, regional, county basis or other basis, will be at rates that comply with applicable statutes, and may be adjusted by CCC to reflect grade, type, quality, location and other factors applicable to the commodity and as otherwise provided in this section. (b) The basic MAL rates for wheat, corn, barley, oats, grain sorghum, rice, peanuts, soybean, canola, flaxseed, mustard seed, rapeseed, safflower, sunflower seed, dry peas, lentils, chickpeas, crambe, sesame seed, wool, mohair and other crops designated by CCC will be determined by CCC and made available to State and county offices. (c) Subject to adjustment as specified in paragraph (f) of this section, in case of forfeiture, for all commodities except rice and peanuts, warehouse-stored MALs will be disbursed at levels based on the basic county MAL rate for the county where the commodity is stored. (1) For rice, subject to adjustment as specified in paragraph (f) of this section, in case of forfeiture, warehouse-stored MALs will be disbursed at levels based on the milling yields times the whole and broken kernel MAL rates. (2) For peanuts, warehouse-stored MALs will be disbursed at levels based on National loan rates by peanut type, adjusted for the schedule of premiums and discounts on the basis of grade, quality, and other factors specified on warehouse receipts. (d) The Secretary will establish a single loan rate in each county for each kind of other oilseeds, such as but not limited to, sunflower, rapeseed, canola, safflower, flaxseed, mustard seed, crambe, sesame seed, and other oilseeds as designated by the Secretary. (e) Adjustments by the Secretary to establish loan rates for loan commodities, except rice, on a county basis will not be lower than 95 percent of the national average loan rate, if those loan rates do not result in an increase in outlays. Adjustments in this section will not result in an increase in the national average loan rate for any year. (f) For all crop y… | |||
| 7:7:10.1.2.2.14.2.330.1 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.100 Applicability. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 80 FR 129, Jan. 2, 2015] | This subpart provides the terms and conditions for MALs offered by CCC. Additional terms and conditions are also in the note and security agreement which the producer must sign to receive such MALs. | |||
| 7:7:10.1.2.2.14.2.330.10 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.109 Personal liability of the producer. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 68 FR 67939, Dec. 5, 2003; 71 FR 32424, June 6, 2006; 74 FR 15655, Apr. 7, 2009; 80 FR 124, 129, 130, Jan. 2, 2015] | (a) When a producer obtains a commodity MAL, the producer agrees, in writing, not to: (1) Provide an incorrect certification of the quantity or make any fraudulent or erroneous representation for the MAL; (2) Remove or dispose of a quantity of commodity that is collateral for a CCC farm-stored MAL without prior written approval from CCC in accordance with § 1421.10; or (3) Violate the terms and conditions of the note and security agreement, which will cause harm or damage to CCC in that funds may be disbursed to the producer for a quantity of a commodity that is not actually in existence or for a quantity on which the producer is not eligible. If CCC determines that the producer has violated the terms and conditions of the applicable forms prescribed by CCC, liquidated damages will be assessed on the quantity of the commodity that is involved in the violation. (b) Such violations as referred to in paragraph (a)(3) of this section may include, but are not limited to: (1) Incorrect certification; (2) Unauthorized removal; and (3) Unauthorized disposition. (c) If the county committee determines that the producer has committed such violations, liquidated damages will be assessed on the quantity of the commodity that is involved in the violation. (d) Liquidated damages assessed in accordance with this section will be determined by multiplying the quantity involved in the violation by 10 percent of the MAL rate applicable to the MAL note. (e) When it has been determined that a violation of the terms and conditions of the note and security agreement has occurred as a result of unauthorized removal or disposition, CCC will determine the quantity of the commodity involved with respect to such violation and require the repayment of that portion of the MAL which is equivalent to such quantity of the commodity. In the case of these violations, if CCC determines the producer: (1) Acted in good faith when the violation occurred, liquidated damages will be assessed according to paragraph (d) of this section and the c… | |||
| 7:7:10.1.2.2.14.2.330.11 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.110 Commodity certificate exchanges. | CCC | [86 FR 70705, Dec. 13, 2021] | (a) For any outstanding marketing assistance loan, a producer may purchase a commodity certificate and exchange that commodity certificate for the marketing assistance loan collateral. (b) The exchange rate is the lessor of: (1) The loan rate and charges, plus interest applicable to the loan; or (2) The prevailing world market price, as determined by CCC, or the alternative repayment rate for all other commodities, as determined by CCC. (c) Commodity certificate exchanges may not be used when locking in a repayment rate under § 1421.10. (d) Producers must request a commodity certificate exchange on or before loan maturity in person at the FSA county office that disbursed the marketing assistance loan by: (1) Completing a written request on the form or providing the information as required by CCC; (2) Purchasing a commodity certificate for the exact amount required to exchange the marketing assistance loan collateral; or (3) Immediately exchanging the purchased commodity certificate for the outstanding loan collateral. (e) Loan gains realized from a commodity certificate exchange are not subject to AGI provisions specified in part 1400 of this chapter. | |||
| 7:7:10.1.2.2.14.2.330.12 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.111 MAL settlement. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 71 FR 32425, June 6, 2006. Redesignated and amended at 74 FR 15655, Apr. 7, 2009; 80 FR 125, 129, 130, Jan. 2, 2015] | (a) The value of MALs at settlement will be determined by CCC on the following basis: (1) For nonrecourse MALs, the schedule of premiums and discounts for the commodity, provided that if the value of the eligible delivered collateral at settlement is: (i) Less than the amount due, the producer will pay to CCC the amount of such deficiency and charges, plus interest on such deficiency; or (ii) More than the amount due, the amount of such excess will be paid to the producer or, if applicable, to the producer and applicable secured creditors of the producer. (2) For recourse MALs, full repayment of principal plus interest is required. As specified in § 1421.113, recourse MAL collateral may not be delivered or forfeited to CCC in satisfaction of indebtedness. (3) If CCC sells the commodity described in paragraph (a)(1) and (a)(2) of this section in settlement of the MAL, the sales proceeds will be applied to the amount owed as follows: (i) For nonrecourse MALs, CCC will in all instances retain all proceeds obtained from the sale of the eligible commodity and will not make any payment of any amount of such proceeds to any party, including the producer who has satisfied their obligation under the MAL through delivery of the commodity to CCC. CCC will settle with the producer based on the quality and quantity of the commodity; or (ii) For recourse MALs, the sales proceeds from the eligible collateral will be applied to the amount owed CCC by the producer. The producer will be responsible for any costs incurred by CCC in completing the sale and CCC will deduct the amount of these costs from the sale proceeds. If: (A) The amount received from the sale of the collateral is less than the amount due, the producer will pay to CCC the amount of such deficiency and costs, plus interest on the remaining amount owed; or (B) The amount received from the sale of the collateral is greater than the sum of the amount due, the amount of such excess will be paid to the producer or, if applicable, to the producer and applicable … | |||
| 7:7:10.1.2.2.14.2.330.13 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.112 Foreclosure. | CCC | [67 FR 63511, Oct. 11, 2002. Redesignated and amended at 74 FR 15655, Apr. 7, 2009; 80 FR 124, 130, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | (a)(1) Upon maturity and nonpayment of a warehouse-stored MAL, title to the unredeemed collateral securing the MAL will immediately vest in CCC. (2) Upon maturity and nonpayment of a farm-stored MAL, title to the unredeemed collateral will automatically transfer to CCC upon CCC demand. (3) When CCC acquires title to the unredeemed collateral, CCC will not pay for any market value that such collateral may have in excess of the MAL indebtedness, (the unpaid amount of the note and charges plus interest). (b) If the total amount due on a farm-stored MAL (the unpaid amount of the note plus charges, and interest) is not satisfied upon maturity, CCC may remove the commodity from storage, and assign, transfer, and deliver the commodity or documents evidencing title thereto when, how, and upon terms as CCC determines. Disposition may also be affected without removing the commodity from storage. The commodity may be processed before sale and CCC may become the purchaser of the whole or any part of the commodity at either a public or private sale. (1) The value of settlement for a farm-stored commodity removed by CCC from storage and will be as provided in § 1421.111. (2) If a deficiency exists after the collateral is sold, a receivable for such deficiency will be established in accordance with part 1403 of this title. | |||
| 7:7:10.1.2.2.14.2.330.14 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.113 Recourse MALs. | CCC | [67 FR 63511, Oct. 11, 2002. Redesignated at 70 FR 33799, June 10, 2005. Redesignated and amended at 74 FR 15655, Apr. 7, 2009; 80 FR 126, 129, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | (a) CCC will make recourse MALs available to eligible producers of high moisture corn, high moisture grain sorghum, commodities that fall within acceptable levels of contamination and remain merchantable, and other eligible loan commodities as determined by the Deputy Administrator, Farm Programs. (b) Repayment is required to be paid in full at principal plus interest on or before the loan maturity date. (c) Recourse MAL collateral may not be delivered or forfeited to CCC in satisfaction of the loan indebtedness. | |||
| 7:7:10.1.2.2.14.2.330.2 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.101 Maturity dates. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15654, Apr. 7, 2009; 80 FR 123, 129, Jan. 2, 2015] | (a)(1) All MALs will mature on demand by CCC and no later than the last day of the 9th calendar month following the month in which the note and security agreement is filed and approved except for transferred MAL collateral. The maturity date for transferred MAL collateral will be the maturity date applicable to the original MAL that was transferred. (2) CCC may at any time call the MAL by notifying the producer at least 30 days in advance of the accelerated maturity date. (b) The maturity date of any MAL may not be extended. | |||
| 7:7:10.1.2.2.14.2.330.3 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.102 Adjustment of basic loan rates. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15654, Apr. 7, 2009; 80 FR 123, 129, 130, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | (a) Basic loan rates are established under § 1421.9 and will be adjusted or not adjusted as follows: (1) For farm-stored commodities, except for peanuts, that exceed acceptable levels of contamination, the loan rate will be discounted to 10 percent of the base county MAL rate if pledged as collateral for a nonrecourse loan. Loan rates for commodities with acceptable levels of contamination will not be adjusted if pledged as collateral for recourse loans. (2) For farm-stored commodities where the test weight discounts are on the: (i) Crop year specific schedules of premiums and discounts, the MAL rate will be adjusted for the higher of the discount for test weight or grade based on test weight. (ii) Additional schedule of discounts, the MAL rate will be reduced to 20 percent of the county loan rate. (3) With respect to commodities harvested, excluding silage or hay, as other than grain and pledged as collateral for a nonrecourse MAL, the MAL rate will be discounted to 30 percent of the county loan rate. (4) With respect to farm-stored wheat, the basic county loan rate will not be adjusted to reflect the protein content. (5) With respect to Segregation 2 and 3 peanuts as determined by CCC, the MAL rate will be discounted to 35 percent of the applicable loan rate. | |||
| 7:7:10.1.2.2.14.2.330.4 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.103 Authorized storage. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15654, Apr. 7, 2009; 80 FR 123, 129, Jan. 2, 2015] | (a) Authorized farm storage is: (1) A storage structure located on or off the farm, (excluding public warehouses that do not enter into an agreement with CCC), that CCC determines to be controlled by the producer which affords safe storage of collateral pledged for a MAL; (2) If determined and announced to be available in a State or county, on ground storage and other temporary storage structures approved by CCC. (3) As determined by CCC, temporary authorized storage may also include: (i) On-ground storage or; (ii) Other storage arrangements. (b) CCC may reduce the quantity of a commodity pledged as collateral for a MAL made available under paragraph (a)(2) of this section to not more than 75 percent of such otherwise eligible quantity in order to protect the interests of CCC. CCC may also limit the length of time the commodity may be stored on-ground or in temporary structures to not more than 90 days. A MAL made with respect to such commodity that is not moved to a structure specified in (a)(2) within 90 days of the date the MAL was disbursed may be called by CCC. (c)(1) Authorized warehouse storage consists of warehouses that: (i) If Federally licensed, are in compliance with 7 CFR part 735 or (ii) If not Federally licensed, are in compliance with State laws and that issue warehouse receipts that meet the criteria specified in § 1421.107. (iii) If not Federally licensed or in compliance with State Laws and issue warehouse receipts that meet the criteria specified in § 1421.107, have entered into a storage agreement with CCC. (2) Notwithstanding paragraph (c)(1) of this section, if storing peanuts, the warehouse must in all cases have entered into a storage agreement with CCC. For storing other crops, notwithstanding paragraph (c)(1) of this section, CCC may, on a case-by-case basis, still require a warehouse operator that would qualify under paragraphs (c)(1)(i) or (ii) of this section to enter into a storage agreement if deemed necessary by the Deputy Administrator to be needed to protect CCC's int… | |||
| 7:7:10.1.2.2.14.2.330.5 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.104 Making MALs. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 71 FR 32424, June 6, 2006; 74 FR 15654, Apr. 7, 2009; 75 FR 19193, Apr. 14, 2010; 80 FR 123, Jan. 2, 2015; 86 FR 70705, Dec. 13, 2021] | (a)(1) CCC may conduct such lien searches and may perfect its interest in loan commodities under State law as it deems to be in its interest. (2) The cost for terminating the financing statement for MALs disbursed under this part before the end of the term will be paid by the producer. (3) If there are any liens or encumbrances on the commodity pledged as collateral for a MAL made under this part, waivers that fully protect CCC's interest must be obtained even though the liens or encumbrances are satisfied from MAL proceeds disbursed under this part. No additional liens or encumbrances will be placed on the commodity after such a MAL is approved. (b) Fees, charges, interest, and all applicable approved commodity assessment collections must be paid by the producer at a rate CCC determines or, in the case of assessments, at a rate approved by the assessment authority. Such fees, charges, and interest include: (1) A non-refundable loan service fee; (2) Interest that accrues on a loan under part 1405 of this chapter. (c) To ensure proper storage of peanuts for which a MAL is made under this section, the Secretary will pay reasonable handling and other associated costs (other than storage) incurred at the time at which the peanuts are placed in a warehouse stored MAL. Such rates will be available in the State and county FSA offices. | |||
| 7:7:10.1.2.2.14.2.330.6 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.105 Farm-stored MALs. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 80 FR 123, 129, Jan. 2, 2015] | (a) The producer of a commodity pledged as security for a farm-storage MAL: (1) Certifies the quantity of such commodity on the MAL application, or; (2) Has such quantity measured by CCC at the measurement service rate established by CCC. (b) The State committee may establish a MAL percentage not to exceed a percentage CCC establishes or it may apply quality discounts to the loan rate in each year for each commodity on a statewide basis or for specified areas within the State. Before approving a county committee request to establish a different loan percentage, or to apply quality discounts, the State committee will consider conditions in the State or areas within a State to determine if the MAL percentage should be reduced below the maximum MAL percentage or the quality discounts should be applied to the basic county MAL rate to provide CCC with adequate protection. MALs disbursed based upon loan percentages previously lowered and loan rates adjusted for quality will not be altered if conditions within the State or areas within the State change to substantiate removing such reductions. Percentages established or loan rates adjusted for quality under this section will apply only to new MALs and not to outstanding MALs. In determining loan percentages or the necessity to apply quality discounts, the State committee will consider any factor at its discretion, including the following: (1) General crop conditions; (2) Factors affecting quality peculiar to an area within the State; and (3) Climatic conditions affecting storability. (c) An eligible quantity of a commodity that is commingled with an ineligible quantity of the commodity is not eligible to be collateral for a MAL unless the producer, when requesting a MAL designates all structures that may be used for storage of the MAL collateral. (1) In such cases, the producer is not required to obtain prior written approval from the county committee before moving MAL collateral from one designated structure to another designated structure. (2) In all other in… | |||
| 7:7:10.1.2.2.14.2.330.7 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.106 Warehouse-stored MAL collateral. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15654, Apr. 7, 2009;80 FR 124, 129, Jan. 2, 2015] | (a) A commodity may be pledged as collateral for a warehouse-stored MAL in the quantity delivered to CCC for storage at a warehouse that meets standards for approval at part 1423 of this chapter. Such quantity is the net weight specified on the warehouse receipt or supplemental certificate. (b) Two or more producers may obtain a single joint MAL for commodities stored in an approved warehouse if the warehouse receipt pledged as collateral is issued jointly to the producers. (c) If more than one producer executes a note and security agreement with CCC, each such producer is jointly and severally liable for the violation of the terms and conditions of the note and the regulations in this part. Each such producer also remains liable for repayment of the entire MAL amount until the MAL is fully repaid without regard to such producer's claimed share in the commodity pledged as collateral for the MAL. In addition, such producer may not amend the note and security agreement with respect to the producer's claimed share in such commodities, or MAL proceeds, after execution of the note and security agreement by CCC. (d) Storage rates that CCC has approved to be deducted from MAL proceeds are available in FSA State and county offices and other USDA service centers. Deductions are based upon entries on the warehouse receipt or supplemental certificate, but the storage rate is not to exceed the storage rate CCC has approved. No storage deduction is to be made if written evidence acceptable to CCC is submitted indicating that: (1) Storage charges through the maturity date have been prepaid; or (2) The producer has arranged with the warehouse operator for the payment of storage charges through the maturity date and the warehouse operator enters an endorsement in substantially the following form on the warehouse receipt: Storage arrangements have been made by the depositor of the commodity covered by this receipt through (date through which storage has been provided). No lien will be asserted by the warehouse operator agai… | |||
| 7:7:10.1.2.2.14.2.330.8 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.107 Warehouse receipts. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15654, Apr. 7, 2009; 75 FR 19193, Apr. 14, 2010; 80 FR 124, 130, Jan. 2, 2015] | (a) Warehouse receipts for MALs tendered to CCC as specified in § 1421.3 may either be paper or electronic. All receipts, whether paper or electronic, must meet all the applicable provisions of this section and this part, and CCC program document requirements. EWRs must be issued by a provider approved by CCC. (b) Warehouse receipts must be issued in the name of the eligible producer or CCC. If issued in the name of the eligible producer, the receipt must be properly endorsed on its reverse side certifying that the crop is free of encumbrances in order for title to vest in the holder. Receipts must be issued by an authorized warehouse and must represent a commodity that is deemed to be stored commingled. The receipts must be negotiable and must represent a commodity that is the same quantity and quality as the eligible commodity actually in storage in the warehouse of the original deposit. (c) If the receipt is issued for a commodity that is owned by the warehouse operator either solely, jointly, or in common with others, the fact of such ownership is to be stated on the receipt. In States where the pledge of warehouse receipts issued by a warehouse operator on the warehouse operator's commodity is invalid, the warehouse operator may offer the commodity to CCC for a MAL if such warehouse is licensed under the U.S. Warehouse Act. (d) Each warehouse receipt or accompanying supplemental certificate representing a commodity stored in an authorized warehouse must indicate that the commodity is insured. CCC shall not be responsible for the cost of such insurance. (e) A separate warehouse receipt must be submitted for each grade and class of any commodity tendered to CCC and, for rice, such receipt must also state the milling yield of the rice, and for wool, such receipts must also state the yield and micron of the wool. (f) With respect to peanuts, a warehouse receipt must be submitted exhibiting grade, type, and segregation for peanuts tendered to CCC. (g)(1) Each warehouse receipt, or a supplemental certificate… | |||
| 7:7:10.1.2.2.14.2.330.9 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | B | Subpart B—Marketing Assistance Loans | § 1421.108 Transfers and reconcentrations. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15654, Apr. 7, 2009; 80 FR 124, 129, 130, Jan. 2, 2015] | (a) Upon request by the producer before transfer, the county committee may approve the transfer of a quantity of a commodity that is pledged as collateral for a farm-stored MAL to a warehouse-stored MAL at any time during the MAL period. (1) Transfer of all or part of the farm-stored MAL collateral to an authorized warehouse will be made through the pledge of warehouse receipts for the commodity placed under a warehouse-stored MAL. The loan rate of the transferred MAL will be the same as the loan rate of the original MAL. The MAL quantity for the warehouse-stored MAL cannot exceed the loan quantity transferred from the farm-stored MAL. (2) Any amounts due the producer will be disbursed by the FSA county service center. (b) The producer must request county committee approval before the transfer of a warehouse-stored MAL to a farm-stored MAL. The county committee may approve the transfer of part or all of a warehouse-stored MAL at any time during the MAL period. Quantities pledged as collateral for a farm-stored MAL will be based on a measurement or a calculation of average production of wool and mohair, by a representative of the county office before approving the farm-stored MAL. The producer must immediately repay the amount by which the farm-stored MAL is less than the warehouse-stored MAL and charges plus interest on the shortage. The maturity date of the farm-stored MAL is the maturity date applicable to the warehouse-stored MAL that was transferred. (c) Upon the filing of the Reconcentration Agreement and Trust Receipt by the producer and warehouse operator, CCC may, during the MAL period, approve the reconcentration in another authorized warehouse for all or part of a commodity that is pledged as collateral for a warehouse-stored MAL. Any such approval will be subject to the terms and conditions in the Reconcentration Agreement and Trust Receipt. A producer may, before the new warehouse receipt is delivered to CCC, pay CCC: (1) The principal amount of the MAL and charges plus interest and applicable ch… | |||
| 7:7:10.1.2.2.14.3.330.1 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | C | Subpart C—Loan Deficiency Payments | § 1421.200 Applicability. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 71 FR 32425, June 6, 2006; 74 FR 15655, Apr. 7, 2009; 80 FR 126, 129, Jan. 2, 2015; 86 FR 70706, Dec. 13, 2021] | (a) During the MAL availability period, LDPs will be made available to eligible producers when the alternative repayment rate is less than the applicable county loan rate. (b) To be eligible to receive LDPs a producer must: (1) Comply with all MAL eligibility including beneficial interest requirements. (2) Agree to forgo obtaining such MAL, if applicable; and (3) File in person, by mail or electronically a request for payment on a form prescribed by CCC; and (4) Otherwise comply with all program requirements. (c)(1) A producer must submit to the FSA Service Center a completed request for a LDP on forms prescribed by CCC. This submission must be received on or before the date beneficial interest is lost in the commodity and before the final loan availability date for the commodity. Such completed and submitted forms indicate the producer's intentions and further provide the terms and conditions of the LDP program. If all or any of the provisions of this paragraph are not met by the producer, the producer may not obtain the LDP benefit. (2) With respect to a request for a LDP for unshorn pelts, a completed request for such a payment must be submitted on or before the earlier of the date of slaughter of the lamb or the loss of beneficial interest in the lamb or the unshorn pelt produced from the lamb. In addition, the lamb must have been owned for not less than 30 days prior to the date such application is filed with CCC and must have been slaughtered for personal use, or sold for slaughter and slaughtered within 10 calendar days after the sale. (d) For unshorn pelts, the lamb must be owned for a period of not less than 30 days in advance of the application and sold for immediate slaughter or slaughtered for personal use. Producers must submit acceptable production evidence to CCC under § 1421.12 at the time of request. Producers who do not sell lambs for immediate slaughter are ineligible for a LDP. (e) AGI requirements apply as specified in part 1400 of this chapter. | |||
| 7:7:10.1.2.2.14.3.330.2 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | C | Subpart C—Loan Deficiency Payments | § 1421.201 Loan deficiency payment rate. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 71 FR 32425, June 6, 2006; 71 FR 51426, Aug. 30, 2006; 74 FR 15655, Apr. 7, 2009; 80 FR 126, 130, Jan. 2, 2015] | (a) The LDP rate for a crop will be the amount by which the loan rate for the crop exceeds the rate at which CCC has announced that producers may repay their MALs as specified in § 1421.10. (b) The LDP rate will be the rate in effect in the county where the commodity was marketed or stored on the date: (1) The request for benefits is received in the FSA Service Center, if the producer retains beneficial interest in the quantity on that date. (2) Beneficial interest was lost, as determined by CCC and as provided in §§ 1421.6 and 1421.13, if on the date the request for benefits was received in the FSA Service Center the producer no longer has beneficial interest in the requested quantity. (3) The commodity is delivered, if the producer elects to receive the LDP rate based on the date of delivery. (c) The LDP applicable to such crop will be computed by multiplying the LDP rate, as determined under paragraph (b) of this section, by the quantity of the crop the producer is eligible to pledge as collateral for a nonrecourse MAL for which the LDP is requested. | |||
| 7:7:10.1.2.2.14.3.330.3 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | C | Subpart C—Loan Deficiency Payments | § 1421.202 Loan deficiency payment quantity. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 74 FR 15656, Apr. 7, 2009; 80 FR 126, 130, Jan. 2, 2015] | (a) A LDP may be based on 100 percent of the net eligible quantity specified on acceptable evidence of production of the commodity certified as eligible for LDP if such production evidence is provided for such commodity under § 1421.12. (b) Two or more producers may obtain a single joint LDP for commodities that are stored in the same storage facility. Two or more producers may obtain individual LDPs for their share of the commodity that is stored commingled in a farm storage facility with commodities for which an LDP has been requested and will be liable for any damage incurred by CCC for incorrect certification of such commodities under § 1421.203. (c) Two or more producers may obtain a single joint LDP for commodities that are stored in an authorized or unauthorized warehouse if the acceptable documentation representing an eligible commodity for which a LDP is requested is completed jointly for such producers. | |||
| 7:7:10.1.2.2.14.3.330.4 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | C | Subpart C—Loan Deficiency Payments | § 1421.203 Personal liability of the producer. | CCC | [67 FR 63511, Oct. 11, 2002, as amended at 71 FR 32425, June 6, 2006; 74 FR 15656, Apr. 7, 2009; 80 FR 126, 130, Jan. 2, 2015] | (a) When a producer requests a LDP, the producer agrees: (1) When signing the LDP Agreement and Request, as applicable, that the producer will not provide an incorrect certification of the quantity or make any fraudulent representation, that CCC will rely upon when determining eligibility for a LDP; and (2) That violation of the terms and conditions of the LDP request, as applicable, will cause harm or damage to CCC in that funds may be disbursed to the producer for a quantity of a commodity that is not actually in existence or for a quantity on which the producer is not eligible. If CCC determines that the producer has violated the terms and conditions of the applicable forms prescribed by CCC, liquidated damages will be assessed on the quantity of the commodity that is involved in the violation. (b) Liquidated damages assessed in accordance with this section will be determined by multiplying the quantity involved in the violation by 10 percent of the LDP. (c) If CCC determines that the producer: (1) Acted in good faith when the violation occurred, liquidated damages will be assessed according to paragraph (b) of this section and the producer must repay the LDP applicable to the loan deficiency quantity involved in the violation and charges, plus interest applicable to the amount repaid. If the producer fails to pay such amount within 30 days from the date of notification the producer must repay the entire LDP and any other charges plus interest. (2) Did not act in good faith when the violation was committed, liquidated damages will be assessed in accordance with paragraph (b) of this section and the producer shall repay the entire LDP and any other charges plus interest. (d) CCC may waive the liquidated damages assessed according to paragraph (b) of this section if the CCC determines that the violation occurred inadvertently, accidentally, or unintentionally. (e) If, for any violation to which paragraph (b) of this section applies, the county committee determines that CCC's interest is not or will not b… | |||
| 7:7:10.1.2.2.14.4.330.1 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | D | Subpart D—Grazing Payments for Wheat, Barley, Oats, and Triticale | § 1421.300 Applicability. | CCC | [66 FR 13404, Mar. 6, 2001. Redesignated and amended at 67 FR 63511, 63523, Oct. 11, 2002; 74 FR 15656, Apr. 7, 2009; 80 FR 127, 130, Jan. 2, 2015] | (a) The regulations in this subpart are applicable to the eligible acreage planted to wheat, barley, oats, or triticale that is grazed by livestock and not harvested in any other manner. This subpart specifies the terms and conditions under which a grazing payment will be made by CCC in lieu of an LDP. (b) The form that is used in administering these payments is available in State and county FSA offices and will be prescribed by CCC. | |||
| 7:7:10.1.2.2.14.4.330.2 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | D | Subpart D—Grazing Payments for Wheat, Barley, Oats, and Triticale | § 1421.301 Administration. | CCC | [66 FR 13404, Mar. 6, 2001, as amended at 80 FR 127, 130, Jan. 2, 2015] | (a) This subpart will be administered by the FSA under the general direction and supervision of the Executive Vice President, CCC or designee. The program will be carried out in the field by State and county FSA employees under the general direction and supervision of the State and county FSA committees. (b) State and county committees, and representatives and employees thereof, do not have the authority to modify or waive any of the provisions of the regulations in this part, as amended or supplemented. (c) The State committee will take any action required by this part which has not been taken by the county committee. The State committee will also: (1) Correct, or require a county committee to correct, any action taken by such county committee which is not in accordance with the regulations of this part; or (2) Require a county committee to withhold taking any action which is not in accordance with the regulations of this part. (d) No delegation herein to a State or county committee will preclude the Executive Vice President, CCC, or a designee, from determining any question arising under the program or from reversing or modifying any determination made by a State or county committee. (e) The Deputy Administrator for Farm Programs (DAFP), FSA, may authorize State and county committees to waive or modify deadlines and other program requirements in cases where timeliness or failure to meet such other requirements does not adversely affect the operation of the program. In addition, DAFP may establish other conditions for payments that will assist in achieving the goals of the program and may include such provisions in the program agreement or other program documents. | |||
| 7:7:10.1.2.2.14.4.330.3 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | D | Subpart D—Grazing Payments for Wheat, Barley, Oats, and Triticale | § 1421.302 Eligible producer and eligible land. | CCC | [66 FR 13404, Mar. 6, 2001. Redesignated and amended at 67 FR 63511, 63523, Oct. 11, 2002. Redesignated and amended at 74 FR 15656, Apr. 7, 2009; 80 FR 127, Jan. 2 2015; 86 FR 70706, Dec. 13, 2021] | (a) To be an eligible producer for a payment under this subpart, the person must be a producer of wheat, barley, oats, or triticale in the applicable crop years. Also, to be an eligible producer, the person must meet all other qualifications for payment that are set out in this subpart, set out in parts 12, 718, 1400, and 1405 of this title. A person will not be considered the producer of the crop unless that person was responsible for the planting of the crop and had control and title of the crop at all times, including, at the time of planting and the time of the request for a payment under, this subpart. (b) A minor may participate in the program if the right of majority has been conferred on the minor by court order or by statute, or if the minor participates through a guardian authorized to act on the minor's behalf in these matters. Alternatively, a minor may participate if the program documents are all signed by an acceptable (to CCC) guarantor or if bond, acceptable to CCC, is provided by a surety. (c) For the crop to be eligible, the crop, in addition to other standards that may apply, must be grown on land that is classified as “cropland” in FSA farm records or on land that FSA determines has been cropped in the last 3 years except that the land may also qualify if the land is committed to a crop rotation, normal for the locality, that includes harvesting the subject crop for grain. These rules are designed to assure, to the extent practicable, the available payment did not produce plantings that otherwise would not have occurred and the CCC may deny payments in any instance in which there is reason to believe that the planting was done for that purpose. To that end, if the commodity involved has not been previously grown by the producer or is not one which is not predominately produced locally, the producer must submit evidence of seed purchases for planting the commodities and other evidence deemed needed or appropriate by the COC in order to assure that the program goals are made and that the land … | |||
| 7:7:10.1.2.2.14.4.330.4 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | D | Subpart D—Grazing Payments for Wheat, Barley, Oats, and Triticale | § 1421.303 Time and method for application. | CCC | [80 FR 127, Jan. 2, 2015] | (a) Application for the program provided in this subpart must be received, at the FSA county office that is responsible for administering programs for the farm, no earlier than the date on which eligible crops would normally be harvested and no later than the final loan availability date as determined in accordance with § 1421.5. (b) The application must describe the land to be grazed and, in accordance with standards set by CCC, the tract or field location. (c) The COC will determine the first harvest date, taking into account the date on which such crops are normally harvested locally for any purpose. (d) Where multiple producers are involved, the application must specify each producer's share in the crop. (1) A producer may only receive payments under this subpart that are commensurate with that producer's share in the crop as specified on the application. (2) Should a person who is entitled to receive a payment under this subpart die, that payment, as earned, may be made to other persons as provided for in the rules specified in part 707 of this title. (3) Third parties may also receive payments to the extent provided for in part 707 of this title for other situations involving an incapacitation of the producer. (e) Refusals to allow CCC to verify information on any application or report used for this subpart can result in program ineligibility and producers must provide CCC, FSA, and its agent access to the property involved and to all records as may be relevant to the making of payments under this subpart. (f) False statements will disqualify the producer from the program and may be subject to other sanctions including criminal sanctions. | |||
| 7:7:10.1.2.2.14.4.330.5 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | D | Subpart D—Grazing Payments for Wheat, Barley, Oats, and Triticale | § 1421.304 Payment amount. | CCC | [66 FR 13404, Mar. 6, 2001. Redesignated and amended at 67 FR 63511, 63524, Oct. 11, 2002. Redesignated and amended at 74 FR 15656, Apr. 7, 2009; 80 FR 127, 130, Jan. 2, 2015; 86 FR 70706, Dec. 13, 2021] | (a) The grazing payment rate will be the LDP in effect for the farm on the date which the producer submits a complete program application to CCC. For triticale, the grazing rate will be equal to the LDP rate in effect for the predominant class of wheat in the county where the farm is located as of the date the application is filed. (b) The payable units of production will be computed by multiplying the eligible grazed acres by the applicable yield determined under paragraph (c) of this section. (c) The payment yield will be: (1) The yield for the loan commodity on the farm in effect for the calculation of Price Loss Coverage as specified in part 1412 of this chapter; (2) For a farm for which Agriculture Risk Coverage is elected, the payment yield that would otherwise be in effect for that loan commodity on the farm in the absence of such election as specified in part 1412 of this chapter; or (3) In the case of a farm for which no payment yield is established for the loan commodity on the farm, an appropriate yield as determined by the COC. (d) Payments can be withheld until the actual grazed acreage is verified and justified in connection with any other reports filed with FSA with respect to the farm (or filed with some other person or agency) and until all other necessary information is obtained. CCC may require such other verification as it deems appropriate to assure that the program goals are met. (e) To receive the payment, the eligible producer must submit a request for payment on an application form as prescribed by CCC or FSA. The application may be obtained from the county FSA office, or from the USDA or FSA web site in the Internet. The form must be submitted to the county by the close of business on or before March 31 of the calendar year following the year the crop is normally harvested. (f) The producer will be ineligible for payments under this subpart if any discrepancies between the reported acreage on the program form and other reports of acreage by the producer are not resolved by a date… | |||
| 7:7:10.1.2.2.14.4.330.6 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | D | Subpart D—Grazing Payments for Wheat, Barley, Oats, and Triticale | § 1421.305 Misrepresentation and scheme or device. | CCC | [66 FR 13404, Mar. 6, 2001. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 127, 130, Jan. 2, 2015] | (a) A producer is ineligible to receive payments under this subpart if it is determined by DAFP, the State committee, or the county committee to have: (1) Adopted any scheme or device which tends to defeat the purpose of this program; (2) Made any fraudulent representation; or (3) Misrepresented any fact affecting a program determination. (b) Any funds disbursed pursuant to this subpart to a producer engaged in a misrepresentation, scheme, or device, or to any other person as a result of the producer's actions, will be refunded with interest together with such other sums as may become due. Any producer engaged in acts prohibited by this section and any person receiving payment under this subpart, as a result of such acts, will be jointly and severally liable for any refund due under this section and for related charges. The remedies provided in this subpart will be in addition to other civil, criminal, or administrative remedies which may apply. | |||
| 7:7:10.1.2.2.14.4.330.7 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | D | Subpart D—Grazing Payments for Wheat, Barley, Oats, and Triticale | § 1421.306 Refunds; joint and several liability. | CCC | [66 FR 13404, Mar. 6, 2001. Redesignated and amended at 74 FR 15656, Apr. 7, 2009; 80 FR 128, 130, Jan. 2, 2015] | (a) In the event there is a failure to comply with any term, requirement, or condition for payment arising under this application, of this subpart, and if any refund of a payment to CCC becomes due for that or other reason in connection with the application, of this subpart, all payments made under this subpart to any producer are to be refunded to CCC together with interest as determined in accordance with paragraph (c) of this section and late-payment charges as provided for in part 1402 of this chapter. (b) All persons listed on an application are jointly and severally liable for any refund due in connection with that application and for any related charges which may be determined to be due for any reason. (c) Interest is applicable to refunds required from the producer. Interest will be charged at the rate of interest which the United States Treasury charges CCC for funds, as of the date CCC made such benefits available. Interest will accrue from the date such benefits were made available to the date of repayment but the interest rate will increase to reflect any increase in the rate charged to CCC by Treasury for any percent of time for which the interest assessment is collected. CCC may waive the accrual of interest if CCC determines that the cause of the erroneous determination was not due to any action of the producer. (d) Late payment interest will be assessed on refunds in accordance with the provisions of, and subject to the rates in part 1403 of this chapter. (e) Producers must refund to CCC any excess payments made by CCC with respect to any application in which they have an interest. Such refund will be subject to interest at the same rate that applies to other refunds. | |||
| 7:7:10.1.2.2.14.5.330.1 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.400 Applicability. | CCC | [80 FR 128, Jan. 2, 2015] | (a) This subpart specifies the terms and conditions under which an entity that is a DMA of peanut producers, or a subsidiary of such an entity, may qualify as a DMA, as defined in § 1421.3. DMAs may process peanut MALs and LDPs on behalf of producers. (b) This subpart only applies with respect to peanut MALs and peanut LDPs. | |||
| 7:7:10.1.2.2.14.5.330.10 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.409 Monitoring AGI. | CCC | [86 FR 70706, Dec. 13, 2021] | DMAs are required to monitor their producers' AGIs and may not permit repayments with a market loan gain on peanut MALs or process peanut LDPs for those producers with annual AGI over the allowable limit as specified in part 1400 of this chapter. | |||
| 7:7:10.1.2.2.14.5.330.11 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.410 Recordkeeping requirements. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 129, Jan. 2, 2015] | A DMA must maintain producer MAL and LDP paper documents and electronic records for an indefinite period unless otherwise notified by CCC. | |||
| 7:7:10.1.2.2.14.5.330.12 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.411 Forms. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 129, Jan. 2, 2015] | For purposes of conducting business related to this part, a DMA may use either current CCC forms or other forms approved by CCC. A DMA may perform functions under this part only when approval has been obtained by CCC. | |||
| 7:7:10.1.2.2.14.5.330.13 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.412 Powers of attorney. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009] | DMAs may hold a power of attorney from a producer allowing the DMA to sign MAL and LDP documents for the producer, but DMAs may obtain and hold such powers only in accordance with the requirements of CCC governing such powers. | |||
| 7:7:10.1.2.2.14.5.330.14 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.413 Liens and waivers. | CCC | [80 FR 129, Jan. 2, 2015] | (a) DMAs performing MAL-related functions pursuant to the authority in this subpart must determine, to the same extent as required for MALs handled by FSA county offices, whether a lien on the peanuts exists by performing or obtaining a lien search for all peanuts to be pledged for each MAL, except that the cost associated with such lien search and any necessary lien waivers is borne by the DMA. If a lien exists, the DMA must obtain, on an approved CCC form, a signed waiver from each lienholder with an interest in any such lien. (b) [Reserved] | |||
| 7:7:10.1.2.2.14.5.330.15 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.414 Producer request to a DMA for an MAL or LDP. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009] | Peanut producers or their authorized agent may request that an MAL or LDP be processed by a DMA only if the DMA is approved under this subpart to process such a request and only if the producer supplies to the DMA: (a) Beneficial interest information. Beneficial interest must be maintained by the producer according to § 1421.6 for the peanuts to be eligible for MAL or LDP; accordingly, the producer must supply to the DMA such information as it needed to make that determination. (b) Warehouse receipts and lien information. Producers must supply for all peanuts either individual paper warehouse receipts in the producer's name or an electronic warehouse receipt (EWR) number and provider's name. Producers must supply relevant lien information regarding the peanuts; however, the producer's obligation in this regard does not relieve the DMA from making the appropriate lien search. | |||
| 7:7:10.1.2.2.14.5.330.16 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.415 Processing marketing assistance loans. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 129, Jan. 2, 2015] | (a) DMAs must take the following actions in the following order when an application for an MAL is filed: (1) Make all the determinations that are a precondition for a MAL, including all producer eligibility requirements, lien determinations, and if requested by the producer, enter into a power of attorney agreement with the producer. (2) If there is an EWR for the peanuts, instruct the current holder to notify the EWR provider to amend the EWR to show the DMA as holder. If a paper receipt is involved, the DMA must obtain the receipt (and later, at the appropriate time include the receipt in the documents delivered to the CCC). (3) Complete all MAL forms. (4) After the producer or the person holding the power of attorney for the producer signs MAL document, provide the signatory with copies of the documents. (5) Where there is an EWR for the peanuts notify the EWR provider to make CCC the holder of the EWR and secure an affirmation verifying that CCC has been made the holder of the EWR. (b) [Reserved] | |||
| 7:7:10.1.2.2.14.5.330.17 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.416 Processing loan deficiency payments. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 129, Jan. 2, 2015; 86 FR 70706, Dec. 13, 2021] | (a) DMAs must take the following actions in the following order when an application for an LDP is filed: (1) In addition to other determinations that are required, the DMA must determine whether the producer exceeds the AGI limits to allow the receipt of the LDP. If the producer is over the AGI limit the DMA cannot process the request. (2) If EWRs are applicable for the peanuts for which the LDP is sought, the DMA must instruct the current holder to notify the EWR provider to amend the EWR to show that the peanuts were used to obtain an LDP; (3) The DMA must insure that the producer or the person holding the power of attorney for the producer signs the LDP documents; and (4) If the peanuts and the producer are eligible for the MAL and all other conditions have been met, the DMA may disburse funds to the producer subject to the time limits set out elsewhere in this part. (b) The LDP rate applicable to the LDP request will be the rate in effect on the date the DMA receives the request except as may otherwise be provided for in this part. | |||
| 7:7:10.1.2.2.14.5.330.18 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.417 Disbursing MAL and LDP proceeds. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 129, 130, Jan. 2, 2015; 86 FR 70706, Dec. 13, 2021] | (a) A DMA may request that CCC establish a drawdown account from which to disburse MAL and LDP amounts to producers and designate the financial institution they wish to use. (b) CCC will determine whether a drawdown account is justified and the amount of the account. (c) If there is no drawdown account, MAL and LDP proceeds are to be distributed to the producer within 3 work days from the date the DMA receives MAL or LDP proceeds from CCC, after deduction of authorized charges or fees for services. If there is a drawdown account, the MAL and LDP proceeds are to be distributed to the producer within 3 days of the completion of the application. (d) The DMA is to assess charges and fees at the same rate for each producer that it serves. (e) If a drawdown account is used, CCC will replenish the amount as necessary as it is drawn down. (f) The DMA must notify CCC of the actual date on which the MAL is disbursed. | |||
| 7:7:10.1.2.2.14.5.330.19 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.418 Submitting MAL and LDP documentation to FSA. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 129, 130, Jan. 2, 2015] | (a) Until such time as an alternative FSA MAL- or LDP-making system is made available to DMAs, within 3 business days of any DMA prepared disbursement, the DMA must separately group and submit to FSA: (1) MALs with the same disbursement date, peanut type, warehouse code, and State where peanuts were inspected; and (2) LDPs with the same LDP rate, approval date, and peanut type. (b) Each of the groups identified in paragraph (a) of this section must be submitted to FSA with the following documents: (1) Individual paper warehouse receipts or EWR numbers, and the EWR provider's name representing the bundled MALs or LDPs. (2) A form to itemize receipts, and other data, as required, or a pre-processed electronic file containing data required by FSA. (c) FSA may process each DMA prepared MAL or LDP group for the volume of peanuts on multiple receipts as one MAL or LDP, waive the service fee to the DMA, and either hold MAL paper warehouse receipts, or verify that CCC is holder of the EWRs as of the date of disbursement. (d) In the case of an MAL, if CCC was not the holder of the EWR on or before the date the DMA prepared MAL was disbursed, the applicable receipts will be rejected, and funds will not be distributed to the DMA drawdown account until CCC becomes the holder of the EWR. (e) If MAL and LDP documentation is acceptable, FSA will disburse MAL or LDP funds to the DMA, with appropriate supporting documentation. | |||
| 7:7:10.1.2.2.14.5.330.2 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.401 DMA responsibilities. | CCC | [70 FR 33799, June 10, 2005. Redesignated and amended at 74 FR 15656, Apr. 7, 2009; 80 FR 128, Jan. 2, 2015] | (a) DMAs are eligible to process the MALs and LDPs provided for in this part only for peanut producers and only if the DMA and the producers and peanuts meet all eligibility criteria set out in this part, including, but not limited to, the DMA eligibility provisions of this subpart. In carrying out those functions, DMAs must: (1) Prepare and execute the appropriate CCC peanut MAL and LDP application documents; (2) Determine whether producers and the commodity are eligible for MALs and LDPs, including whether the otherwise eligible peanuts are free and clear of all liens which DMAs determine by performing lien searches at DMAs expense; (3) Instruct the holder of EWRs, if applicable, to notify the EWR provider to amend the EWR to show CCC is the holder; (4) Receive MAL and LDP documents from a DMA Service County Office; (5) Disburse peanut MALs and LDP proceeds to eligible producers; (6) Prepare and execute documents for MAL repayments; (7) Collect MAL repayments from producers or buyers and transmit those funds to CCC; (8) Transmit documents to render forfeited collateral to CCC; and (9) Collect data for reporting to CCC as required by CCC; (b) As part of performing the responsibilities in paragraph (a) of this section, DMAs: (1) Become knowledgeable of and follow the procedures in CCC and FSA peanut MAL and LDP regulations, applicable notices published in the Federal Register, applicable FSA peanut program handbooks and amendments thereto, and any applicable notices or instructions issued by FSA and the Agricultural Marketing Service. (2) Make and service CCC peanut MALs and LDPs, only upon the presenting by producers or their agents of the warehouse receipts, unless otherwise directed by CCC. (3) Attend, at the DMAs expense, DMA peanut MAL, and LDP program training offered by CCC. (4) Provide sufficient personnel, computer hardware, computer communications systems, and software, as determined necessary by CCC, to administer the peanut MAL and LDP program. | |||
| 7:7:10.1.2.2.14.5.330.20 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.419 MAL or LDP servicing. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009;80 FR 129, 130, Jan. 2, 2015] | (a) The DMA is responsible for servicing MALs and are required to take the following actions: (1) Send the producer a maturity notice letter before MAL maturity. (2) Maintain the MAL or LDP documents according to FSA requirements. (3) Transmit the necessary funds to repay the MAL to FSA. (b) FSA will process the CCC release of paper receipts or EWRs where such a release is appropriate. | |||
| 7:7:10.1.2.2.14.5.330.21 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.420 Inspections and reviews. | CCC | [80 FR 129, Jan. 2, 2015] | The books, documents, papers, and records of the DMA and parent company must be maintained for 6 years after the applicable crop year and be made available to CCC for inspection and examination at all reasonable times. At any time after an application is received, CCC has the right to examine all books, documents, papers, and determine whether the DMA is operating or has operated in accordance with the regulations in this part, any articles of incorporation, articles of association, partnership documents, agreements with producers, the representations made by the DMA in its application for approval, and, where applicable, its agreements with CCC. If the DMA is determined to be not complying with this part or any of its agreements, CCC will take appropriate action as provided in elsewhere in this subpart or other action CCC determines appropriate. | |||
| 7:7:10.1.2.2.14.5.330.22 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.421 Appeals. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009] | Parts 11 and 780 of this title apply to this subpart. | |||
| 7:7:10.1.2.2.14.5.330.3 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.402 DMA eligibility to process MALs and LDPs. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 128, Jan. 2, 2015] | (a) A DMA is eligible to process any MAL or LDPs only if approved in advance to handle such matters by the Farm Service Agency pursuant to this part; and (1) The DMA meets the financial requirements and other requirements in this subpart and part; (2) The DMA is comprised solely of peanut producers or is a subsidiary of an organization of peanut producers; (3) The DMA is not controlled directly or indirectly by a person or entity that acquires peanuts for processing or crushing through a business involved in buying and selling peanuts or peanut products; (4) The DMA does not take title at any time to any peanuts for which it processes MALs or LDPs, irrespective of whether such title is taken before or after those activities are performed. If such title or interest is taken, the DMA is required to return to CCC the full amount of the CCC proceeds disbursed with respect to the peanuts; and (5) The DMA meets any additional requirements imposed by CCC or FSA. (b) The DMA's activities under this part are to be conducted only with respect to peanuts and only for producers and peanuts that meet all the eligibility requirements of this part. Such requirements include, but are not limited to, the requirement of § 1421.6 that the producer must have the beneficial interest in the peanuts while the peanuts are under MAL or when the LDP is received and must be the only person that has had such an interest in the peanuts prior to that time except as allowed by § 1421.6. | |||
| 7:7:10.1.2.2.14.5.330.4 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.403 DMA approval. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 128, Jan. 2, 2015] | (a) Entities wishing to apply to be a DMA enabled to perform MAL and LDP functions under this part for peanuts must submit an application for such approval to FSA in a form approved by CCC. That application will include the following: (1) Two originals of a properly executed Designated Marketing Association agreement containing the terms and conditions prescribed by CCC. (2) A financial statement of not less than 1 year old on the date submitted, including accompanying notes, schedules, or exhibits, certified by a certified public accountant as fairly representing the entity's financial condition. (3) The entity's tax identification number. (4) A copy of any applicable incorporating or partnership documents. (5) The applicant entity's mailing address, electronic mail address, and telephone number and facsimile number. (6) Any and all information requested by CCC regarding the DMAs materials, and equipment as CCC determines is necessary for the applicant to perform the services for which the approval to perform is sought. (7) A narrative explaining how the proposed DMA entity or parent entity provides marketing services to peanut producers. (8) Any additional information or financial security requested by the Agency. (b) Applicants are responsible for notifying FSA when any changes occur to their operations requiring amendments to their application or supporting documents. | |||
| 7:7:10.1.2.2.14.5.330.5 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.404 Financial security. | CCC | [80 FR 128, Jan. 2, 2015] | (a) In order to be approved to handle MALs and LDPs, a DMA must: (1) Have a current net worth ratio of at least 1:1; and (2) Provide security equal to $100,000 or a greater amount as determined by CCC. (b) [Reserved] | |||
| 7:7:10.1.2.2.14.5.330.6 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.405 Liability. | CCC | [80 FR 128, Jan. 2, 2015] | (a) DMAs must indemnify CCC against any claim or loss by CCC in connection with the processing of any MALs or LDPs or other activity carried out by the DMA. If CCC pays any claim or suffers a loss as a result of the actions of DMA, or if a refund otherwise becomes due to CCC, payment in the amount of such losses or refund, plus interest, may be set-off by CCC from the financial security provided by DMA as required by this subpart. If the amount of the loss exceeds the amount of the financial security, such amount is paid to CCC by DMA with interest. Interest and other charges may be assessed consistent with § 1403.9 of this chapter. Remedies provided in this section or part are in addition to other remedies or penalties, whether civil, criminal or otherwise, as may apply. (b) If a DMA becomes liable to CCC under paragraph (a) of this section or otherwise in connection with this subpart, such DMA is not eligible to process an LDP or MAL until the receivable amount owed CCC is paid in full, and the full amount of financial security required by this subpart has been restored. | |||
| 7:7:10.1.2.2.14.5.330.7 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.406 Reporting requirements. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 128, Jan. 2, 2015] | (a) Report of changes. A DMA must furnish information to CCC within thirty calendar days relating to any substantial change in the DMA operations including but not limited to the following: (1) A change in its articles of incorporation; (2) A resolution affecting MAL or LDP operations. (3) A change to the DMAs name, address, phone number, or related information on the DMA agreement. (b) Other Information. The DMA must supply such additional information as CCC may request related to the DMAs continued approval by CCC to process MALs and LDPs under the authority provided in this subpart. (c) CCC request for information. CCC may require a DMA to submit updated information, a new application, or a request for recertification whenever CCC becomes aware of any changes or has any reason to be uncertain that the DMA is operating in a manner that is consistent with the information already submitted, or consistent with this part. (d) Annual recertification. Within 4 months after the end of the DMAs fiscal year, a DMA must submit the following information to CCC: (1) A current financial statement prepared according to generally accepted accounting principles; (2) A report of audit or review of the financial statement conducted by an independent Certified Public Accountant. The accountant's report of audit or review must include the accountant's certifications, assurances, opinions, comments, and notes with respect to such financial statements. (3) Additional financial security as determined by CCC, if the financial security on file with CCC does not meet current requirements or has expired. (4) A report of changes as required under paragraph (a) of this section. (e) Activity report. DMAs must provide CCC reports of MAL and LDP volume and benefit earnings made by the DMA for individual producers, and gains received on behalf of each peanut producer, in a format as directed by CCC. | |||
| 7:7:10.1.2.2.14.5.330.8 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.407 Suspension and termination. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 128, Jan. 2, 2015] | (a) Suspension. If CCC determines that a DMA is not in compliance with the DMA agreement CCC may suspend the DMA from making peanut MALs and LDPs until the DMA corrects the violation, or longer. (b) Termination. The DMA agreement may be terminated by the DMA upon 30 calendar days' written notice to CCC. CCC may cancel the agreement at any time. Upon termination DMA must immediately cease processing MAL or LDP requests and documents except as needed to preserve CCC's position with respect to existing MALs or LDPs. | |||
| 7:7:10.1.2.2.14.5.330.9 | 7 | Agriculture | XIV | B | 1421 | PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS | E | Subpart E—Designated Marketing Associations for Peanuts | § 1421.408 Prohibited activity. | CCC | [70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009; 80 FR 128, Jan. 2, 2015] | (a) DMAs approved to handle MALs and LDPs under this subpart may not: (1) Discriminate against or deny any producer from receiving MALs or LDPs because of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or family status for which they would otherwise be eligible under the statutes regulating the MAL and LDP program. (2) Pool peanuts for the purpose of obtaining peanut MALs or LDPs from CCC. (3) Pool the proceeds obtained from peanut MALs or LDPs made by CCC. (4) Process farm-stored certified or measured MALs or LDPs unless authorized by CCC. (5) Take title to any peanuts. (6) Operate the DMA under the same entity and tax identification number of a CCC-approved CMA. (7) Refuse services to producers because the DMA was not granted a power of attorney for purposes of executing MAL documents to obtain MALs for the producer, repaying the MAL for the producer, obtaining LDPs for the producer, or marketing the producer's peanuts. (8) Adopt any scheme or device to circumvent the purpose of the peanut MAL and LDP program regulations, the regulation governing DMAs, or the DMAs agreement with CCC. (9) Process MALs or LDPs for producers involved in a bankruptcy proceeding unless authorized by CCC. (10) Process MALs or LDPs on ineligible peanuts. (b) If the prohibitions of this section are violated FSA or CCC may take one or more of the actions authorized in this part or otherwise authorized. |
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