[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: 7CFR1412.806]

[Page 409-410]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1412_DIRECT AND COUNTER-CYCLICAL PROGRAM AND PEANUT QUOTA BUYOUT 
 
                  Subpart H_Peanut Quota Buyout Program
 
Sec. 1412.806  Eligible peanut quota holder.

    (a) A person shall be eligible for a payment under this part only if 
CCC has determined the person to be an ``eligible peanut quota holder'' 
for purposes of this part. To be an eligible peanut quota holder, a 
person must, as of May 13, 2002:
    (1) Have owned a farm, or had a life estate interest in a farm, to 
which paragraphs (a)(2) and (b) of this section do not apply, that was 
eligible for a permanent peanut quota under part 729 of this title, as 
in effect on January 1,

[[Page 410]]

2002, without regard to quotas established for seed or experimental 
purposes or quotas subject to temporary leases or temporary transfers;
    (2) Be a party to a written contract for the purchase of all or a 
portion of the farm identified in paragraph (a)(1) of this section that 
was in effect on or before May 13, 2002. If the parties to the contract 
are unable to agree to the division of the applicable peanut quota on 
the land subject to the written contract, the Deputy Administrator, 
taking into account any incomplete or permanent transfer of the peanut 
quota that has otherwise been agreed to, shall provide for the equitable 
division of the payments made under this part by determining the 
eligible peanut quota holders and allocating the disputed amount of the 
peanut quota to such holders. This allocation will take into account the 
ratio of cropland on the unsold portion of the farm and the cropland on 
the portion of the farm subject to the purchase contract;
    (3) Be a party to a written contract that was in effect on or before 
May 13, 2002, for the permanent transfer of a peanut quota to such 
party's farm but was not completed by that date. In such a case, the 
eligible peanut quota holder is the owner of the farm, as of May 13, 
2002, to which the peanut quota was to be transferred; or
    (4) Have owned a farm with a peanut quota which is protected under a 
Conservation Reserve Program contract in accordance with part 1410 of 
this chapter;
    (b) Notwithstanding any provision of paragraph (a) of this section, 
CCC may determine that a person is an eligible peanut quota holder with 
respect to an amount of peanut quota for the purposes of this section, 
to the exclusion of all other persons in order to provide for the fair 
and equitable administration of this part so long as the total amount of 
eligible quota pounds for all program participants does not exceed the 
quantity of peanut quota that was available to all quota holders in the 
2001 crop year.
    (c) Sales and transfers of farms and peanut quotas may be 
disregarded by CCC when:
    (1) Such sales and transfers were required to be reported to FSA 
under part 729 of this title; or
    (2) It is otherwise determined by CCC that it would be unfair and 
inequitable in the overall administration of the program to make or 
modify an eligibility determination based on claims of transfers or 
sales that preceded January 1, 2002.