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Code of Federal Regulations (Last Updated: November 8, 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 1435 - Sugar Program |
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Subpart F - Processor Sugar Payment-In-Kind (PIK) Program |
§ 1435.505 - Miscellaneous provisions.
Latest version.
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§ 1435.505 Miscellaneous provisions.
(a) CCC may permit processors to bid, in lieu of acreage, desugarizing capacity or other measures of sugar production as CCC determines.
(b) The contract shall provide for the payment of liquidated damages if a processor fails to comply with the obligations specified in the CCC production diversion contract.
(c) CCC will transfer title of the sugar to the processor by notifying the processor or assignee that the sugar is available. CCC will stop storage payments on this sugar on the date of transfer.
[67 FR 54928, Aug. 26, 2002. Redesignated at 74 FR 15367, Apr. 6, 2009]