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e-CFR data is current as of August 6, 2020

Title 7Subtitle BChapter XIVSubchapter BPart 1427Subpart A → §1427.6


Title 7: Agriculture
PART 1427—COTTON
Subpart A—Nonrecourse Cotton Loan and Loan Deficiency Payments


§1427.6   Disbursement of MALs.

(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.

[67 FR 64459, Oct. 18, 2002, as amended at 73 FR 65720, Nov. 5, 2008; 80 FR 139, Jan. 2, 2015]

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