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Code of Federal Regulations Title 7. Agriculture § 7.1220.110 First purchaser

Current as of January 02, 2025 | Updated by Findlaw Staff

The term first purchaser means—

(a) except as provided in paragraph (b) of this section, any person buying or otherwise acquiring from a producer soybeans produced by such producer;  or

(b) In any case in which soybeans are pledged as collateral for a loan issued under any Commodity Credit Corporation price support loan program and the soybeans are forfeited by the producer in lieu of loan repayment, the Commodity Credit Corporation.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.1220.110 First purchaser - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-1220-110/

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