7 CFR 1421.11 - Spot checks.

§ 1421.11 Spot checks.
(a) CCC may inspect the collateral for marketing assistance loans, and producers with such loans shall allow CCC access to the farm and storage facility as necessary to conduct collateral inspections, or “spot checks” as they are called. Spot checks will verify that the quality and quantity of farm-stored commodities pledged as collateral for marketing assistance loans are maintained by the producer.
(b) Loan deficiency payments are selected for spot check to ensure that all eligibility requirements, as required by CCC, are met in order to receive such loan deficiency payment.
(c) Producers must present production evidence for commodities acceptable to CCC when a spot check is conducted.
Beta! The text on the eCFR tab represents the unofficial eCFR text at ecfr.gov.
§ 1421.11 Spot checks.

(a) CCC may inspect the collateral for MALs, and producers with such MALs must allow CCC reasonable access to the farm and storage facility as necessary to conduct “spot check” collateral inspections. Spot checks are intended to verify that the quality and quantity of farm-stored commodities pledged as collateral for MALs are maintained by the producer.

(b) LDPs are selected for spot check to ensure that all eligibility requirements, as required by CCC, are met in order to receive such LDP.

(c) Producers must present production evidence for commodities acceptable to CCC when a spot check is conducted.

[67 FR 63511, Oct. 11, 2002, as amended at 80 FR 122, Jan. 2, 2015]

Title 7 published on 2015-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 7 CFR Part 1421 after this date.

  • 2015-01-02; vol. 80 # 1 - Friday, January 2, 2015
    1. 80 FR 114 - Marketing Assistance Loans, Loan Deficiency Payments, and Sugar Loans
      GPO FDSys XML | Text
      DEPARTMENT OF AGRICULTURE, Commodity Credit Corporation, Farm Service Agency
      Final rule.
      Effective Date: January 2, 2015.
      7 CFR Part 718