[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: 7CFR1439.111]

[Page 642-643]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1439_EMERGENCY LIVESTOCK ASSISTANCE--Table of Contents
 
            Subpart B_2003	2004 Livestock Assistance Program
 
Sec. 1439.111  Refunds to CCC; joint and several liability.

    (a) In the event there is a failure to comply with any term, 
requirement, or condition for payment or assistance arising under this 
part, and if any refund of a payment to CCC shall otherwise become due 
in connection with this part, all payments made in regard to such matter 
shall be refunded to CCC, together with interest as determined in 
accordance with paragraph (b) of this section and late-payment charges 
as provided for in part 1403 of this chapter.
    (b) All signatories on a LAP application with a financial interest 
in the operation or in an application for payment shall be jointly and 
severally liable for any refund including related charges that is 
determined to be due CCC for any reason under this part.
    (c) Interest shall be applicable to refunds required of the 
livestock owner or other party receiving assistance or a payment if CCC 
determines that payments or other assistance were provided to the owner 
and the owner was not eligible for such assistance. Such interest shall 
be charged at the rate of interest that the United States Treasury 
charges CCC for funds, as of the

[[Page 643]]

date CCC made such benefits. Such interest that is determined to be due 
CCC shall accrue from the date such benefits were made available by CCC 
to the date of repayment or the date interest increases in accordance 
with part 1403 of this chapter. 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 livestock owner or other individual or entity 
receiving benefits.
    (d) Interest otherwise determined due in accordance with paragraph 
(c) of this section may be waived with respect to refunds required of 
the owner or other program recipient because of unintentional action on 
the part of the owner or other individual or entity, as determined by 
CCC.
    (e) Late-payment interest shall be assessed on all refunds in 
accordance with the provisions of, and subject to the rates prescribed 
in part 1403 of this chapter.
    (f) Individuals or entities who are a party to any program operated 
under this part must refund to CCC any excess payments made by CCC with 
respect to such program.
    (g) In the event that any request for assistance or payment under 
this part was established as a result of erroneous information or a 
miscalculation, the assistance or payment shall be re-computed and any 
excess refunded with applicable interest.