7 CFR 1427.7 - Maturity of MALs.
(1)Form A loans and Form G loans mature on demand by CCC and no later than the last day of the 9th calendar month following the month in which the note and securityagreement is approved as specified in § 1427.5(a).
(b) If the loan is not repaid by the loan maturity date, title to the cotton will vest in CCC the day after such maturity date and CCC will have no obligation to pay for any market value which such cotton may have in excess of the amount of the loan, plus interest and charges.
(e) The maturity date of any MAL may not be extended.
Title 7 published on 2015-08-22.
No entries appear in the Federal Register after this date, for 7 CFR Part 1427.