7 USC 1445k - Payments in commodities

U.S Code last checked for updates: Apr 28, 2024

§ 1445k.

Payments in commodities

(a)

In-kind payments by Secretary

In making in-kind payments under any of the annual programs for wheat, feed grains, upland cotton, or rice (other than negotiable marketing certificates for upland cotton or rice), the Secretary may—

(1)

acquire and use like commodities that have been pledged to the Commodity Credit Corporation as security for price support loans, including loans made to producers under section 1445e of this title; and

(2)

use other like commodities owned by the Commodity Credit Corporation.

(b)

Methods of payments

The Secretary may make in-kind payments—

(1)

by delivery of the commodity to the producer at a warehouse or other similar facility, as determined by the Secretary;

(2)

by the transfer of negotiable warehouse receipts;

(3)

by the issuance of negotiable certificates which the Commodity Credit Corporation shall redeem for a commodity in accordance with regulations prescribed by the Secretary; or

(4)

by such other methods as the Secretary determines appropriate to enable the producer to receive payments in an efficient, equitable, and expeditious manner so as to ensure that the producer receives the same total return as if the payments had been made in cash.

(c)

Commodity certificates

(Oct. 31, 1949, ch. 792, title I, § 115, formerly § 107E, as added Pub. L. 99–198, title X, § 1005, Dec. 23, 1985, 99 Stat. 1448; renumbered § 115 and amended Pub. L. 101–624, title XI, §§ 1122(a), 1161(a)(1), Nov. 28, 1990, 104 Stat. 3503, 3520.)

cite as: 7 USC 1445k