§7286. Commodity certificates
(a) In general
In making in-kind payments under subchapter III of this chapter, the Commodity Credit Corporation may-
(1) acquire and use commodities that have been pledged to the Commodity Credit Corporation as collateral for loans made by the Corporation;
(2) use other commodities owned by the Commodity Credit Corporation; and
(3) redeem negotiable marketing certificates for cash under terms and conditions established by the Secretary.
(b) Methods of payment
The Commodity Credit Corporation may make in-kind payments-
(1) by delivery of the commodity at a warehouse or other similar facility;
(2) by the transfer of negotiable warehouse receipts;
(3) by the issuance of negotiable certificates, which the Commodity Credit Corporation shall exchange for a commodity owned or controlled by the Corporation in accordance with regulations promulgated by the Corporation; or
(4) by such other methods as the Commodity Credit Corporation determines appropriate to promote the efficient, equitable, and expeditious receipt of the in-kind payments so that a person receiving the payments receives the same total return as if the payments had been made in cash.
(c) Administration
(1) Form
At the option of a producer, the Commodity Credit Corporation shall make negotiable certificates authorized under subsection (b)(3) of this section available to the producer, in the form of program payments or by sale, in a manner that the Corporation determines will encourage the orderly marketing of commodities pledged as collateral for loans made to producers under subchapter III of this chapter.
(2) Transfer
A negotiable certificate issued in accordance with this subsection may be transferred to another person in accordance with regulations promulgated by the Secretary.
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