
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC1445k]

 
                          TITLE 7--AGRICULTURE
 
         CHAPTER 35A--PRICE SUPPORT OF AGRICULTURAL COMMODITIES
 
              SUBCHAPTER II--BASIC AGRICULTURAL COMMODITIES
 
Sec. 1445k. Payments in commodities


(a) In-kind payments by Secretary

    In making in-kind payments under any of the annual programs for 
wheat, feed grains, upland cotton, or rice (other than negotiable 
marketing certificates for upland cotton or rice), the Secretary may--
        (1) acquire and use like commodities that have been pledged to 
    the Commodity Credit Corporation as security for price support 
    loans, including loans made to producers under section 1445e of this 
    title; and
        (2) use other like commodities owned by the Commodity Credit 
    Corporation.

(b) Methods of payments

    The Secretary may make in-kind payments--
        (1) by delivery of the commodity to the producer at a warehouse 
    or other similar facility, as determined by the Secretary;
        (2) by the transfer of negotiable warehouse receipts;
        (3) by the issuance of negotiable certificates which the 
    Commodity Credit Corporation shall redeem for a commodity in 
    accordance with regulations prescribed by the Secretary; or
        (4) by such other methods as the Secretary determines 
    appropriate to enable the producer to receive payments in an 
    efficient, equitable, and expeditious manner so as to ensure that 
    the producer receives the same total return as if the payments had 
    been made in cash.

(c) Commodity certificates

    The Secretary shall pay interest on the cash redemption of a 
commodity certificate issued by the Secretary to a producer who holds 
the certificate for at least 150 days. This subsection shall not apply 
with respect to commodity certificates issued in connection with the 
export enhancement program or the marketing promotion program 
established under the Agricultural Trade Act of 1978.

(Oct. 31, 1949, ch. 792, title I, Sec. 115, formerly Sec. 107E, as added 
Pub. L. 99-198, title X, Sec. 1005, Dec. 23, 1985, 99 Stat. 1448; 
renumbered Sec. 115 and amended Pub. L. 101-624, title XI, 
Secs. 1122(a), 1161(a)(1), Nov. 28, 1990, 104 Stat. 3503, 3520.)

                       References in Text

    The Agricultural Trade Act of 1978, referred to in subsec. (c), is 
Pub. L. 95-501, Oct. 21, 1978, 92 Stat. 1685, as amended generally by 
Pub. L. 101-624, title XV, Sec. 1531, Nov. 28, 1990, 104 Stat. 3668, 
which is classified generally to chapter 87 (Sec. 5601 et seq.) of this 
title. For complete classification of this Act to the Code, see Short 
Title note set out under section 5601 of this title and Tables.

                          Codification

    Section was classified to section 1445b-4 of this title prior to its 
renumbering by Pub. L. 101-624.


                               Amendments

    1990--Subsec. (c). Pub. L. 101-624, Sec. 1122(a), added subsec. (c).


                    Effective Date of 1990 Amendment

    Amendment by Pub. L. 101-624 effective beginning with 1991 crop of 
an agricultural commodity, with provision for prior crops, see section 
1171 of Pub. L. 101-624, set out as a note under section 1421 of this 
title.


                       Inapplicability of Section

    Section inapplicable to 1996 through 2002 crops of loan commodities, 
peanuts, and sugar and inapplicable to milk during period beginning Apr. 
4, 1996, and ending Dec. 31, 2002, see section 7301(b)(1)(G) of this 
title.


                  Redemption of Commodity Certificates

    Section 1122(b) of Pub. L. 101-624 provided that:
    ``(1) In general.--A subsequent holder of a commodity certificate 
issued by the Commodity Credit Corporation shall be allowed to exchange 
the expired commodity certificate under the same rules that apply to an 
original holder of the certificate.
    ``(2) Application and redemption limitations.--This subsection shall 
only apply during the 180-day period beginning on the date of enactment 
of this Act [Nov. 28, 1990]. No person may redeem more than $1,000 worth 
of certificates under this subsection.
    ``(3) Redemption limitations.--In no event shall a person receive a 
payment from the Commodity Credit Corporation for a certificate that is 
redeemed under this subsection in an amount greater than the price paid 
for the certificate by the person. No expired certificate shall be 
exchanged under this section if the owner purchased the certificate 
after January 1, 1990.''

                  Section Referred to in Other Sections

    This section is referred to in section 7301 of this title.
