(a) Term of loanIn the case of each loan commodity, a marketing assistance loan under section 7931 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made.
(b) Extensions prohibitedThe Secretary may not extend the term of a marketing assistance loan for any loan commodity.
Structure US Code
CHAPTER 106— COMMODITY PROGRAMS
SUBCHAPTER II— MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS
§ 7931. Availability of nonrecourse marketing assistance loans for loan commodities
§ 7932. Loan rates for nonrecourse marketing assistance loans
§ 7935. Loan deficiency payments
§ 7936. Payments in lieu of loan deficiency payments for grazed acreage
§ 7937. Special marketing loan provisions for upland cotton
§ 7938. Special competitive provisions for extra long staple cotton
§ 7939. Availability of recourse loans for high moisture feed grains and seed cotton