Term of loans

  1. Law
  2. USC 7
  3. Agriculture
  4. AGRICULTURAL COMMODITY SUPPORT PROGRAMS
  5. MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS
  6. Term of loans

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§8733. Term of loans

(a) Term of loan

In the case of each loan commodity, a marketing assistance loan under section 8731 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made.

(b) Extensions prohibited

The Secretary may not extend the term of a marketing assistance loan for any loan commodity.

( Pub. L. 110–234, title I, §1203, May 22, 2008, 122 Stat. 956 ; Pub. L. 110–246, §4(a), title I, §1203, June 18, 2008, 122 Stat. 1664 , 1684.)

Codification

Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.

Effective Date

Enactment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as a note under section 8701 of this title.


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