[USC02] 7 USC 7233: Term of loans
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7 USC 7233: Term of loans Text contains those laws in effect on August 25, 2019
From Title 7-AGRICULTURECHAPTER 100-AGRICULTURAL MARKET TRANSITIONSUBCHAPTER III-NONRECOURSE MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS
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§7233. Term of loans

(a) Term of loan

In the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under section 7231 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made.

(b) Special rule for cotton

A marketing assistance loan for upland cotton or extra long staple cotton shall have a term of 10 months beginning on the first day of the month in which the loan is made.

(c) Extensions prohibited

The Secretary may not extend the term of a marketing assistance loan for any loan commodity.

( Pub. L. 104–127, title I, §133, Apr. 4, 1996, 110 Stat. 907 .)