§ 1425. Producer rights and liabilities

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1949

   Agricultural Act of 1949

   Pub. L. 81–792 · 63 Stat. 1051

   Enacted · 7 U.S.C. § 1425

   Oct. 31, 1949, ch. 792, title IV, § 405, 63 Stat. 1054

   Source evidence

   Code source credit
   Oct. 31, 1949, ch. 792, title IV, § 405, 63 Stat. 1054

2. 1958

   Agricultural Act of 1958

   Pub. L. 85–835 title V § 502 · 72 Stat. 988

   Changed · 7 U.S.C. § 1425

   Pub. L. 85–835 authorized the Commodity Credit Corporation to acquire title to agricultural commodities on which nonrecourse price-support loans have been made without the necessity of computing and making payments to the farmer

   Source evidence

   Code amendment note
   Pub. L. 85–835 authorized the Commodity Credit Corporation to acquire title to agricultural commodities on which nonrecourse price-support loans have been made without the necessity of computing and making payments to the farmer.

   Enacted provision · exact public law section
   Sec. 502. Section 405 of the Agricultural Act of 1949 is amended 7 USC 1425. by adding at the end thereof the following: “There is authorized to be included in the terms and conditions of any such nonrecourse loan a provision whereby on and after the maturity of the loan or any extension thereof Commodity Credit Corporation shall have the right to acquire title to the unredeemed collateral without obligation to pay for any market value which such collateral may have in excess of the loan indebtedness.”

3. 1985

   Food Security Act of 1985

   Pub. L. 99–198 title X § 1004 · 99 Stat. 1354

   1. Amended · 7 U.S.C. § 1425

      Pub. L. 99–198 temporarily designated existing provisions as subsec. (a)

   2. Added · 7 U.S.C. § 1425

      Pub. L. 99–198 temporarily added subsec. (b). See Effective and Termination Dates of 1985 Amendment note below

   Source evidence

   Code amendment note
   Pub. L. 99–198 temporarily designated existing provisions as subsec. (a) and added subsec. (b). See Effective and Termination Dates of 1985 Amendment note below.

   Enacted provision · exact public law section
   Sec. 1004. interest payment certificates Effective only for the 1986 through 1990 crops, section 405 of the Agricultural Act of 1949 (7 U.S.C. 1425) is amended by— (1) inserting “(a)” after the section designation; and (2) adding at the end thereof the following new subsection: “(b) (1) Notwithstanding any other provision of law, the Secretary Loans. may provide a negotiable certificate to any producer who repays, together with interest, a price support loan made available to such producer under any of the annual programs, for wheat, feed grains, upland cotton, or nee established under this Act. “(2) The amount of such certificates shall be equal to the amount of the interest paid by the producer on such loan. “(3) Such certificate shall be redeemable in wheat, feed grains, upland cotton, or rice, as the case may be, owned by the Commodity Credit Corporation. “(4) The issuance of such certificate shall be subject to the availability of commodities owned by the Corporation.”.

4. 1988

   Rural Development, Agriculture, and Related Agencies Appropriations Act, 1989

   Pub. L. 100–460 title VI § 634(a) · 102 Stat. 2229

   Substituted · 7 U.S.C. § 1425(a)

   Pub. L. 100–460 substituted “Except as otherwise provided in section 1425a of this title, no producer” for “No producer”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 100–460 substituted “Except as otherwise provided in section 1425a of this title, no producer” for “No producer”.

   Enacted provision · exact public law section
   (a) Effective beginning with the 1989 crop year for honey, Effective date. section 405 of the Agricultural Act of 1949 (7 U.S.C. 1425) is amended, in the text of subsection (a) (as so designated by section 1004(1) of the Food Security Act of 1985 effective for the 1986 through 1990 crops), by striking out “No producer” and inserting in lieu thereof “Except as otherwise provided in section 405A, no producer”.

   Effective date note
   Pub. L. 100–460, title VI, § 634(a), Oct. 1, 1988, 102 Stat. 2263, provided that the amendment made by section 634(a) is effective beginning with 1989 crop year for honey.

5. 1991

   Pub. L. 102–237 title I § 111(b) · 105 Stat. 1818

   Amended · 7 U.S.C. § 1425(b)

   Pub. L. 102–237 amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows:

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 102–237 amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows:

   “(1) Notwithstanding any other provision of law, the Secretary may provide a negotiable certificate to any producer who repays, together with interest, a price support loan made available to such producer under any of the annual programs, for wheat, feed grains, upland cotton, or rice established under this Act. “(2) The amount of such certificates shall be equal to the amount of the interest paid by the producer on such loan. “(3) Such certificate shall be redeemable in wheat, feed grains, upland cotton, or rice, as the case may be, owned by the Commodity Credit Corporation. “(4) The issuance of such certificate shall be subject to the availability of commodities owned by the Corporation.”

   Enacted provision · exact public law section
   (b) Security Interests.— Subsection (b) of section 405 (7 U.S.C. 1425) is amended to read as follows: “(b) Sugarcane and Sugar Beets.— The security interests obtained by the Commodity Credit Corporation as a result of the execution of security agreements by the processors of sugarcane and sugar beets shall be superior to all statutory and common law liens on raw cane sugar and refined beet sugar in favor of the producers of sugarcane and sugar beets and all prior recorded and unrecorded liens on the crops of sugarcane and sugar beets from which the sugar was derived. The preceding sentence shall not affect the application of section 401(e)(2).”.

5 of 6 references resolved to an enrolled provision · 1 partial