View all text of Subchapter V [§ 7281 - § 7287]
§ 7286. Commodity certificates
(a) In general
In making in-kind payments under subchapter III of this chapter, title I of the Farm Security and Rural Investment Act of 2002 [7 U.S.C. 7901 et seq.], title I of the Food, Conservation, and Energy Act of 2008 [7 U.S.C. 8701 et seq.], and Subtitle 1
1 So in original. Probably should not be capitalized.
B of title I of the Agricultural Act of 2014 [7 U.S.C. 9031 et seq.], 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
(2) Transfer
(3) Application of authority
(Pub. L. 104–127, title I, § 166, as added Pub. L. 106–78, title VIII, § 812, Oct. 22, 1999, 113 Stat. 1181; amended Pub. L. 107–171, title I, § 1608, May 13, 2002, 116 Stat. 218; Pub. L. 110–234, title I, § 1607, May 22, 2008, 122 Stat. 1018; Pub. L. 110–246, § 4(a), title I, § 1607, June 18, 2008, 122 Stat. 1664, 1746, Pub. L. 114–113, div. A, title VII, § 740, Dec. 18, 2015, 129 Stat. 2281.)