United States Code
USC most recently checked for updates: Oct 11, 2024
§ 7233.
Term of loans
(a)
Term of loan
In the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under section 7231 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made.
(b)
Special rule for cotton
A marketing assistance loan for upland cotton or extra long staple cotton shall have a term of 10 months beginning on the first day of the month in which the loan is made.
(c)
Extensions prohibited
The Secretary may not extend the term of a marketing assistance loan for any loan commodity.
cite as: 7 USC 7233
