7 U.S. Code § 5621 - Direct credit sales program
To promote the sale of agricultural commodities, the Commodity Credit Corporation may finance the commercial export sale of such commodities from privately owned stocks on credit terms for not to exceed a 3-year period.
Subject to subsection (c), to promote the sale of agricultural commodities the Commodity Credit Corporation may finance the commercial export sales of agricultural commodities from privately owned stocks on credit terms for a period of not less than 3 years nor in excess of 10 years in a manner that will directly benefit United States agricultural producers.
The Commodity Credit Corporation may not make export sales financing authorized under this section available in connection with sales of an agricultural commodity to any country that the Secretary determines cannot adequately service the debt associated with such sale.
1996—Subsec. (d)(1)(C)(ii). Pub. L. 104–127 substituted “emerging markets” for “emerging democracies”.
1992—Subsec. (c). Pub. L. 102–511, § 707(a), inserted sentence at end.
Subsec. (d)(1)(C). Pub. L. 102–511, § 707(b), amended subpar. (C) generally. Prior to amendment, subpar. (C) read as follows: “to assist countries, particularly developing countries, in meeting their food and fiber needs; and”.
Subsec. (f). Pub. L. 102–511, § 707(c), added subsec. (f).
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