§ 1434.17 Liquidation of loans.
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
(a) The producer is required to repay the loan on or before maturity by payment of the amount of loan, plus any charges, plus interest.
(b) If a producer fails to settle the loan in accordance with paragraph (a) of this section within 30 calendar days from the maturity date of such loan, or other reasonable time period as established by CCC, a claim for the loan amount, plus charges, plus interest will be established. CCC will inform the producer before the maturity date of the loan of the date by which the loan must be settled or a claim will be established in accordance with part 1403 of this title.
[66 FR 15177, Mar. 15, 2001, as amended at 80 FR 141, Jan. 2, 2015]
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