[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: 7CFR1427.160]

[Page 526]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1427_COTTON--Table of Contents
 
                  Subpart D_Recourse Seed Cotton Loans
 
Sec. 1427.160  Applicability.

    Source: 67 FR 64459, Oct. 18, 2002, unless otherwise noted.


    (a) This subpart is applicable to the 2002 through 2007 crops of 
upland and extra long staple seed cotton. These regulations set forth 
the terms and conditions under which recourse seed cotton loans shall be 
made available by CCC. Such loans will be available through March 31 of 
the year following the calendar year in which such crop is normally 
harvested. CCC may change the loan availability period to conform to 
State or locally imposed quarantines. Additional terms and conditions 
are in the note and security agreement which must be executed by a 
producer in order to receive such loans.
    (b) Loan rates and the forms which are used in administering the 
recourse seed cotton loan program for a crop of cotton are available in 
FSA State and county offices. Loan rates shall be based upon the 
location at which the loan collateral is stored.
    (c) A producer must, unless otherwise authorized by CCC, request the 
loan at the county office which, under part 718 of this title, is 
responsible for administering programs for the farm on which the cotton 
was produced. A CMA must, unless otherwise authorized by CCC, request 
the loan at a central county office designated by the State committee. 
All note and security agreements and related documents necessary for the 
administration of the recourse seed cotton loan program shall be 
prescribed by CCC and shall be available at State and county offices.
    (d) Loans shall not be available for seed cotton 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.