Title 7 — AgricultureRelease 119-73
§7233 Term of loans
Title 7 › Chapter CHAPTER 100— - AGRICULTURAL MARKET TRANSITION › Subchapter SUBCHAPTER III— - NONRECOURSE MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS › § 7233
Summary
Most marketing loans last 9 months and start the first day of the month after they are made. Upland and extra‑long‑staple cotton loans last 10 months and start the first day of the loan month. The Secretary cannot extend them.
Full Legal Text
Title 7, §7233
Agriculture — Source: USLM XML via OLRC
(a)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)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)The Secretary may not extend the term of a marketing assistance loan for any loan commodity.
Reference
Citations & Metadata
Citation
7 U.S.C. § 7233
Title 7 — Agriculture
Last Updated
Apr 6, 2026
Release point: 119-73