[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC1445k]
TITLE 7--AGRICULTURE
CHAPTER 35A--PRICE SUPPORT OF AGRICULTURAL COMMODITIES
SUBCHAPTER II--BASIC AGRICULTURAL COMMODITIES
Sec. 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
The Secretary shall pay interest on the cash redemption of a
commodity certificate issued by the Secretary to a producer who holds
the certificate for at least 150 days. This subsection shall not apply
with respect to commodity certificates issued in connection with the
export enhancement program or the marketing promotion program
established under the Agricultural Trade Act of 1978.
(Oct. 31, 1949, ch. 792, title I, Sec. 115, formerly Sec. 107E, as added
Pub. L. 99-198, title X, Sec. 1005, Dec. 23, 1985, 99 Stat. 1448;
renumbered Sec. 115 and amended Pub. L. 101-624, title XI,
Secs. 1122(a), 1161(a)(1), Nov. 28, 1990, 104 Stat. 3503, 3520.)
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