[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1216.51]

[Page 138-139]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XI--AGRICULTURAL MARKETING SERVICE (MARKETING AGREEMENTS AND 
      ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE
 
PART 1216_PEANUT PROMOTION, RESEARCH, AND INFORMATION ORDER--Table of Contents
 
       Subpart A_Peanut Promotion, Research, and Information Order
 
Sec. 1216.51  Assessments.

    (a) The funds necessary to pay for programs and other costs 
authorized by this part shall be acquired by the levying of assessments 
upon producers in a manner prescribed by the Secretary.
    (b) Each first handler, at such times and in such manner as 
prescribed by the Secretary, shall collect from each producer or first 
purchaser/handler and pay assessments to the Board on all peanuts 
handled, including peanuts

[[Page 139]]

produced by the first handler, no later than 60 days after the last day 
of the month in which the peanuts were marketed.
    (c) Such assessments shall be levied at a rate of one (1%) percent 
of the price paid for all farmers stock peanuts sold. Price paid is one 
(1%) percent of loan value.
    (d) For peanuts placed under a marketing assistance loan with the 
Department's Commodity Credit Corporation, the Commodity Credit 
Corporation, or any entity determined by the Commodity Credit 
Corporation shall deduct and remit to the Board, from the proceeds of 
the loan paid to the producer, one (1%) percent of the loan value of the 
peanuts as determined by the warehouse receipt accompanying such 
peanuts, no more than 60 days after the last day of the month in which 
the peanuts were placed under a marketing assistance loan.
    (e) If a producer places peanuts under a marketing assistance loan 
and subsequently redeems and sells such peanuts at a price greater than 
the loan amount, the producer shall pay the difference between the sales 
price and the loan value of the peanuts multiplied by one (1%) percent 
to the Board within sixty (60) days after the final day of the loan 
availability period.
    (f) All assessments collected under this section are to be used for 
expenses and expenditures pursuant to this Order and for the 
establishment of an operating reserve as prescribed in the Order.
    (g) The Board shall impose a late payment charge on any person who 
fails to remit to the Board the total amount for which the person is 
liable on or before the payment due date established under this section. 
The late payment charge will be in the form of interest on the 
outstanding portion of any amount for which the person is liable. The 
rate of interest shall be prescribed in regulations issued by the 
Secretary.
    (h) Persons failing to remit total assessments due in a timely 
manner may also be subject to actions under federal debt collection 
procedures.
    (i) The Board may authorize other organizations to collect 
assessments on its behalf with the approval of the Secretary.
    (j) The assessment rate may not be increased unless the new rate is 
approved by a referendum among eligible producers.

[70 FR 55226, Sept. 21, 2005]