GroundRules
7 CFR 1421.417: Disbursing MAL and LDP proceeds.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER XIV—COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
- SUBCHAPTER B—LOANS, PURCHASES, AND OTHER OPERATIONS
- PART 1421—GRAINS AND SIMILARLY HANDLED COMMODITIES—MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS
- Subpart E—Designated Marketing Associations for Peanuts
(a) A DMA may request that CCC establish a drawdown account from which to disburse MAL and LDP amounts to producers and designate the financial institution they wish to use.
(b) CCC will determine whether a drawdown account is justified and the amount of the account.
(c) If there is no drawdown account, MAL and LDP proceeds are to be distributed to the producer within 3 work days from the date the DMA receives MAL or LDP proceeds from CCC, after deduction of authorized charges or fees for services. If there is a drawdown account, the MAL and LDP proceeds are to be distributed to the producer within 3 days of the completion of the application.
(d) The DMA is to assess charges and fees at the same rate for each producer that it serves.
(e) If a drawdown account is used, CCC will replenish the amount as necessary as it is drawn down.
(f) The DMA must notify CCC of the actual date on which the MAL is disbursed.
Collected 2026-08-27T02:24:01Z. Source file · JSON