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Code of Federal Regulations Title 7. Agriculture § 7.760.1710 Estates and trusts;  minors

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

(a) A receiver of an insolvent debtor's estate and the trustee of a trust estate will, for the purpose of this subpart, be considered to represent an insolvent affected farmer or manufacturer and the beneficiaries of a trust, respectively, and the production of the receiver or trustee will be considered to be the production of the person or manufacturer he represents. Program documents executed by any such person will be accepted only if they are legally valid and such person has the authority to sign the applicable documents.

(b) An affected dairy farmer or manufacturer who is a minor will be eligible for milk loss payments only if he meets one of the following requirements:

(1) The right of majority has been conferred on him by court proceedings or by statute;

(2) A guardian has been appointed to manage his property and the applicable program documents are signed by the guardian;  or

(3) A bond is furnished under which the surety guarantees any loss incurred for which the minor would be liable had he been an adult.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.760.1710 Estates and trusts;  minors - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-760-1710/

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