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Title 7: Agriculture
Subtitle B: Regulations of the Department of Agriculture (Continued)
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 FOR 2008 THROUGH 2012
Subpart E: Designated Marketing Associations for Peanuts
1421.415 - Processing marketing assistance loans.DMAs shall take the following actions in the following order when an application for an MAL is filed:
(a) Make all the determinations that are a precondition for a loan, including lien determinations and if requested by the producer, enter into a power of attorney agreement with the producer.
(b) If there is an EWR for the peanuts, instruct the current holder to notify the electronic warehouse receipt provider to amend the electronic warehouse receipt to show the DMA as holder. If a paper receipt is involved, the DMA must obtain the receipt (and later, at the appropriate time include the receipt in the documents delivered to the CCC).
(c) Complete all MAL forms.
(d) After the producer or the person holding the power of attorney for the producer signs MAL document, provide the signatory with copies of the documents.
(e) Where there is an EWR for the peanuts notify the EWR provider to make CCC the holder of the EWR and secure an affirmation verifying that CCC has been made the holder of the EWR.
[70 FR 33799, June 10, 2005. Redesignated at 74 FR 15656, Apr. 7, 2009]
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