7 USC 519 - Treatment of tobacco loan pool stocks and outstanding loan costs

For each kind of tobacco held by an association, the association shall be responsible for the disposal of a specific quantity of the loan pool stocks for that kind of tobacco held by the association. The quantity transferred to the association for disposal shall be equal to the quantity determined by dividing—

(1)

the amount of funds held by the association in the No Net Cost Tobacco Fund and the No Net Cost Tobacco Account established under sections 106A and 106B of the Agricultural Act of 1949 (7 U.S.C. 1445–1, 1445–2) for the kind of tobacco; by

(2)

the average list price per pound for the kind of tobacco, as determined by the Secretary.

(c)

Disposal of remainder by Commodity Credit Corporation

(1)

Disposal

(2)

Reimbursement

(d)

Transfer of remaining no net cost funds

(Pub. L. 108–357, title VI, § 641, Oct. 22, 2004, 118 Stat. 1534.)

cite as: 7 USC 519

.list_box li,p,.cm-search-info,.cm-search-detail,.abt span,.expand-collapse_top

Get the CustomsMobile app!