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7 U.S. Code § 7957

Marketing assistance loans and loan deficiency payments for peanuts

7 U.S. Code § 7957. Marketing assistance loans and loan deficiency payments for peanuts

(a) Nonrecourse loans available
(1) Availability
For each of the 2002 through 2007 crops of peanuts, the Secretary shall make available to producers on a farm nonrecourse marketing assistance loans for peanuts produced on the farm. The loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under subsection (b).
(2) 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.
(3) Treatment of certain commingled commodities
In carrying out this subsection, the Secretary shall make loans to producers on a farm that would be eligible to obtain a marketing assistance loan, but for the fact the peanuts owned by the producers on the farm are commingled with other peanuts in facilities unlicensed for the storage of agricultural commodities by the Secretary or a State licensing authority, if the producers obtaining the loan agree to immediately redeem the loan collateral in accordance with section 7286 of this title.
(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.
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