[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1421.407]

[Page 456]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1421_GRAINS AND SIMILARLY HANDLED COMMODITIES_MARKETING ASSISTANCE LOANS 
 
         Subpart E_Designated Marketing Associations for Peanuts
 
Sec.  1421.407  Reporting requirements.

    (a) Report of changes. A DMA shall 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 loan or LDP operations.
    (3) A change to the DMA's name, address, phone number, or related 
information on the DMA agreement.
    (b) Other Information. The DMA shall supply such additional 
information as CCC may request related to the DMA's continued approval 
by CCC to process loans and LDP's 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 
DMA's 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 shall 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. DMA's shall 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.

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