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Code of Federal Regulations (Last Updated: October 10, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XIV - Commodity Credit Corporation, Department of Agriculture |
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SubChapter B - Loans, Purchases, and Other Operations |
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Part 1416 - Emergency Agricultural Disaster Assistance Programs |
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Subpart A - General Provisions for Supplemental Agricultural Disaster Assistance Programs |
§ 1416.11 - Refunds; joint and several liability.
Latest version.
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§ 1416.11 Refunds; joint and several liability.
(a) In the event that the participant fails to comply with any term, requirement, or condition for payment or assistance arising under ELAP, LFP, LIP, or TAP and if any refund of a payment to CCC will otherwise become due in connection with this part, the participant must refund to CCC all payments made in regard to such matter, together with interest and late-payment charges as provided for in part 1403 of this chapter provided that interest will in all cases run from the date of the original disbursement.
(b) All persons with a financial interest in an operation or in an application for payment will be jointly and severally liable for any refund, including related charges, that is determined to be due CCC for any reason under this part.