Disbursement of MALs.

CFR · 2024-01-01 · US · Title 7

(a) Individual producers may request loans from: (1) FSA County Service Centers; (2) Loan servicing agents; or (3) An approved cotton clerk who has entered into a written agreement with CCC on a form prescribed by CCC. (b) Loan proceeds may be disbursed by CCC or a cotton commercial bank. (c) The loan documents will not be presented for disbursement unless the cotton covered by the mortgage or pledged as security is eligible under § 1427.5. If the cotton was not eligible cotton at the time of disbursement, the total amount disbursed under the loan, and charges plus interest will be refunded promptly.

official document · source cfr-2024 · id 7:§ 1427.6