Eligible producer.

CFR · 2024-01-01 · US · Title 7

(a) To be an eligible producer, the producer must: (1) Be an individual, partnership, association, corporation, estate, trust, or other legal entity that produces cotton as a landowner, landlord, tenant, or sharecropper; (2) Comply with all provisions of this part; and (i) 7 CFR part 12—Highly Erodible Land and Wetland Conservation: (ii) 7 CFR part 718—Provisions Applicable to Multiple Programs; (iii) 7 CFR part 1400, subpart F—Average Adjusted Gross Income Limitation; (iv) 7 CFR part 1403—Debt Settlement Policies and Procedures; and (v) 7 CFR part 1405—Loans, Purchases and Other Operations; and (3) Have made an acreage certification with respect to all the cropland on the farm. (b) A receiver or trustee of an insolvent or bankrupt debtor's estate, an executor or an administrator of a deceased person's estate, a guardian of an (c) A minor who is otherwise an eligible producer shall be eligible to receive loans and loan deficiency payments only if the minor meets one of the following requirements: (1) The right of majority has been conferred on the minor by court proceedings or by statute; (2) A guardian has been appointed to manage the minor's property and the applicable loan or LDP documents are signed by the guardian; (3) Any note and security agreement or LDP application signed by the minor is co-signed by a person determined by CCC to be financially responsible; or (4) A bond is furnished under which a surety guarantees to protect CCC from any loss incurred for which the

official document · source cfr-2024 · id 7:§ 1427.4