{"identifier":"/us/usc/t7/s7233","title":7,"num":"\u00a7\u202f7233.","heading":"Term of loans","text":"\u00a7\u202f7233.\nTerm of loans\n(a)\nTerm of loan\nIn the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under\nsection 7231 of this title\n(b)\nSpecial rule for cotton\nA marketing assistance loan for upland cotton or extra long staple cotton shall have a term of 10 months beginning on the first day of the month in which the loan is made.\n(c)\nExtensions prohibited\nThe Secretary may not extend the term of a marketing assistance loan for any loan commodity.","url":"https://projectusc.org/usc/t7/s7233.html","content":[{"t":"sec","id":"/us/usc/t7/s7233","children":[{"t":"num","text":"\u00a7\u202f7233."},{"t":"heading","text":"Term of loans"},{"t":"subsec","id":"/us/usc/t7/s7233/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Term of loan"},{"t":"content","children":[{"t":"p","text":"In the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under ","children":[{"t":"ref","text":"section 7231 of this title","href":"/us/usc/t7/s7231","tail":" 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."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s7233/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Special rule for cotton"},{"t":"content","children":[{"t":"p","text":"A marketing assistance loan for upland cotton or extra long staple cotton shall have a term of 10 months beginning on the first day of the month in which the loan is made.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s7233/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Extensions prohibited"},{"t":"content","children":[{"t":"p","text":"The Secretary may not extend the term of a marketing assistance loan for any loan commodity.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"}]}]}