7 USC 7959 - Termination of marketing quota programs for peanuts and compensation to peanut quota holders for loss of quota asset value

U.S Code last checked for updates: Nov 22, 2024

§ 7959.

Termination of marketing quota programs for peanuts and compensation to peanut quota holders for loss of quota asset value

(a)

Repeal of marketing quota

(1)

Omitted

(2)

Treatment of 2001 crop

(b)

Compensation contract required

(1)

In general

(2)

Payment period

(c)

Time for payment

(1)

Payment in installments

(2)

Single payment

(d)

Payment amount

The amount of the payment for a fiscal year to an eligible peanut quota holder under a contract shall be equal to the product obtained by multiplying—

(1)

$0.11 per pound; by

(2)

the number of pounds of quota with respect to which the person qualifies as a peanut quota holder under subsection (f).

(e)

Assignment of payments

(f)

Eligible peanut quota holder

(1)

In general

(2)

Effect of purchase contract

(3)

Effect of agreement for permanent quota transfer

(4)

Protected bases

(5)

Secretarial discretion

(6)

Limitation on quantity of quota held

(g)

Successions in payment eligibility and attachment of eligibility to persons

(1)

Eligibility attaches to persons

(2)

Succession

(Pub. L. 107–171, title I, § 1309, May 13, 2002, 116 Stat. 179.)

cite as: 7 USC 7959