§ 1484.73 - Failure to make required contribution.

§ 1484.73 Are Cooperators penalized for failing Failure to make required contributions?contribution.

A Cooperator's required contribution requirement is will be specified in the Cooperator program allocation 's approval letter. If a Cooperator fails to contribute the amount specified in its allocation approval letter, the Cooperator shall pay to Commodity Credit Corporation CCC in U.S. dollars the difference between the amount it has contributed, and the amount specified in the allocation approval letter. If the Cooperator's required contribution is specified as a percentage of the total amount reimbursed by CCC, the Cooperator may either return to CCC the necessary amount of funds reimbursed by CCC to increase its actual contribution percentage to the required level or pay to CCC in dollars the difference between the amount actually contributed and the amount of funds necessary to increase its actual contribution percentage to the required level. A Cooperator shall remit such payment by December 31 following within six months after the end of the marketing plan year.

[64 FR 52630, Sept. 30, 1999. Redesignated and amended at 65 FR 9995, 9996, Feb. 25, 2000]

its program year. The Cooperator shall make such payment in U.S. dollars, unless otherwise approved in advance by CCC.