Title 7, AgricultureRelease 119-110
§7233 Term of Loans
Title 7 › CHAPTER 100 — AGRICULTURAL MARKET TRANSITION › SUBCHAPTER III — NONRECOURSE MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS › § 7233
Summary
Most loans: 9 months; begin next month's first day; upland and extra‑long‑staple cotton: 10 months; begin loan month's first day; Secretary must not extend.
Full Legal Text
Title 7, §7233
Agriculture, Source: USLM XML via OLRC
(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.
Reference
Citations & Metadata
Citation
7 U.S.C. § 7233
Title 7, Agriculture
Last Updated
Sep 22, 2026
Release point: 119-110