Personal liability..

CFR · 2024-01-01 · US · Title 7

(a) As part of the application for an individual or joint MAL or LDP, each producer agrees that: (1) By signing the MAL note and security agreement, the producer must: (i) Provide correct, accurate, and truthful certifications and representations of the loan quantity and all other matters of fact and interest; and (ii) Not remove or dispose of any amount of the loan quantity without prior written approval from CCC in accordance with this section. (2) That violation of the terms and conditions of this part and the MAL note and security agreement will cause harm or damage to CCC in that funds may be disbursed to the producer for a MAL quantity that is not actually in existence or for a quantity for which the producer is not eligible. (b) For the purposes of this section, violations include any failure to comply with this part or the loan agreement, including but not limited to any incorrect certification or: (1) Unauthorized removal of honey, which includes, but is not limited to, the movement of any loan quantity of honey from the storage structure in the commodity was stored when the loan was approved to any other storage structure whether or not such structure is located on the producer's farm without prior written authorization from the county committee in accordance with § 1434.14; (2) Any unauthorized disposition, which includes, but is not limited to, the conversion of any loan quantity pledged as collateral for a loan without prior written authorization from the county

official document · source cfr-2024 · id 7:§ 1434.15