
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC7286]

 
                          TITLE 7--AGRICULTURE
 
               CHAPTER 100--AGRICULTURAL MARKET TRANSITION
 
                      SUBCHAPTER V--ADMINISTRATION
 
Sec. 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.

(Pub. L. 104-127, title I, Sec. 166, as added Pub. L. 106-78, title 
VIII, Sec. 812, Oct. 22, 1999, 113 Stat. 1181.)
