[Code of Federal Regulations]
[Title 7, Volume 6]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR633.11]

[Page 475-476]
 
                          TITLE 7--AGRICULTURE
 
   CHAPTER VI--NATURAL RESOURCES CONSERVATION SERVICE, DEPARTMENT OF 
                               AGRICULTURE
 
PART 633_WATER BANK PROGRAM--Table of Contents
 
Sec. 633.11  Transfer of interest in an agreement.

    (a) If the ownership or operation of a farm changes in such a manner 
that the agreement no longer contains the signatures of the persons 
required by Sec. 633.6(a) to sign the agreement, the agreement shall be 
modified to reflect the new interested persons and new divisions of 
payments.
    (b) If such persons are not willing to become parties to the 
modified agreement or for any other reason a modified agreement is not 
executed, the agreement shall be terminated and all unearned payments 
shall be forfeited or refunded.
    (c) The annual payment for the year in which the change of ownership 
or operation occurs shall not be considered to have been earned unless 
the designated acreage is continued in the program and there is 
compliance with the agreement for the full agreement year.

[[Page 476]]

    (d) The signatories to the agreement prior to the change of 
ownership or operation shall be jointly and severally responsible for 
refunding the unearned payments previously made.