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Code of Federal Regulations Title 7. Agriculture § 7.1427.6 Disbursement of MALs

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

(a) Individual producers may request loans from:

(1) FSA County Service Centers;

(2) Loan servicing agents;  or

(3) An approved cotton clerk who has entered into a written agreement with CCC on a form prescribed by CCC.

(b) Loan proceeds may be disbursed by CCC or a cotton commercial bank.

(c) The loan documents will not be presented for disbursement unless the cotton covered by the mortgage or pledged as security is eligible under § 1427.5. If the cotton was not eligible cotton at the time of disbursement, the total amount disbursed under the loan, and charges plus interest will be refunded promptly.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.1427.6 Disbursement of MALs - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-1427-6/

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