Contract modifications and transfers of contract rights.

CFR · 2024-01-01 · US · Title 7

(a) NRCS may modify a contract, if— (1) The participant agrees to the modification; and (2) NRCS determines the modified contract continues to meet the purposes of the program. (b) NRCS may approve a transfer of the contract if— (1) NRCS receives written notice that identifies the new producer who will take control of the acreage, as required in paragraph (e) of this section; (2) The new producer meets program eligibility requirements within a reasonable time frame, as specified in the EQIP contract; (3) The new producer agrees to assume the rights and responsibilities for the acreage under the contract; and (4) NRCS determines that the purposes of the program will continue to (c)(1) Until NRCS approves the transfer of contract rights, the transferee is not a participant in the program and may not receive payment for a conservation practice commenced prior to approval of the contract transfer. (2) For contract payment purposes, NRCS will consider the transferor to be the participant to whom payments will be made for conservation practices implemented during the pendency of the approval of contract transfer. (d) NRCS may terminate the entire contract if, within the time specified in the contract, a participant does not provide NRCS with written notice regarding any voluntary or involuntary loss of control of any acreage under the EQIP contract, which includes changes in a participant's ownership structure or corporate form. (e) Unless NRCS receives timely notice of a loss of c

official document · source cfr-2024 · id 7:§ 1466.25