Federal · Title 7 — Agriculture
7 U.S.C. § 1445k: Payments in commodities
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acquire and use like commodities that have been pledged to the Commodity Credit Corporation as security for price support loans, including loans made to producers under section 1445e of this title ; and use other like commodities owned by the Commodity Credit Corporation. by delivery of the commodity to the producer at a warehouse or other similar facility, as determined by the Secretary; by the transfer of negotiable warehouse receipts; by the issuance of negotiable certificates which the Commodity Credit Corporation shall redeem for a commodity in accordance with regulations prescribed by the Secretary; or by such other methods as the Secretary determines appropriate to enable the producer to receive payments in an efficient, equitable, and expeditious manner so as to ensure that the producer receives the same total return as if the payments had been made in cash. The Secretary shall pay interest on the cash redemption of a commodity certificate issued by the Secretary to a producer who holds the certificate for at least 150 days. This subsection shall not apply with respect to commodity certificates issued in connection with the export enhancement program or the marketing promotion program established under the Agricultural Trade Act of 1978. A subsequent holder of a commodity certificate issued by the Commodity Credit Corporation shall be allowed to exchange the expired commodity certificate under the same rules that apply to an original holder of the certificate. This subsection shall only apply during the 180-day period beginning on the date of enactment of this Act [ Nov. 28, 1990 ]. No person may redeem more than $1,000 worth of certificates under this subsection. In no event shall a person receive a payment from the Commodity Credit Corporation for a certificate that is redeemed under this subsection in an amount greater than the price paid for the certificate by the person. No expired certificate shall be exchanged under this section if the owner purchased the certificate after January 1, 1990 .”
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