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7 U.S. Code § 8757

Marketing assistance loans and loan deficiency payments for peanuts

7 U.S. Code § 8757. Marketing assistance loans and loan deficiency payments for peanuts

(a) Nonrecourse loans available
(1) Availability
For each of the 2008 through 2012 crops of peanuts, the Secretary shall make available to producers on a farm nonrecourse marketing assistance loans for peanuts produced on the farm.
(2) Terms and conditions
The loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under subsection (b).
(3) Eligible production
The producers on a farm shall be eligible for a marketing assistance loan under this subsection for any quantity of peanuts produced on the farm.
(4) Options for obtaining loanA marketing assistance loan under this subsection, and loan deficiency payments under subsection (e), may be obtained at the option of the producers on a farm through—
(A)
a designated marketing association or marketing cooperative of producers that is approved by the Secretary; or
(B)
the Farm Service Agency.
(5) Storage of loan peanutsAs a condition on the Secretary’s approval of an individual or entity to provide storage for peanuts for which a marketing assistance loan is made under this section, the individual or entity shall agree—
(A)
to provide such storage on a nondiscriminatory basis; and
(B)
to comply with such additional requirements as the Secretary considers appropriate to accomplish the purposes of this section and promote fairness in the administration of the benefits of this section.
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