7 CFR 1425.8 - Ownership and control.

§ 1425.8 Ownership and control.

(a) CMA's must be owned and controlled by active members of the CMA.

(b) The CMA must provide evidence that:

(1) Active members own more than 50 percent of its allocated equity; and

(2) A majority of directors are active members of the CMA or authorized representatives of active members.

(c) An applicant cooperative or a CMA, not under the ownership or control, of its active members, may be approved by CCC if it is able to establish that, by retiring the equity of its inactive members or by obtaining new members, it can vest ownership and control in its active members, as required by this section, by a date specified by CCC.

Title 7 published on 10-May-2017 03:42

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 7 CFR Part 1425 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