7 U.S. Code § 7233

7 U.S. Code § 7233 is about Term of loans. It is under Subchapter III (Nonrecourse Marketing Assistance Loans And Loan Deficiency Payments) of Chapter 100 (Agricultural Market Transition) of Title 7 (Agriculture) of the Code.

(a) Term of loan
In the case of each loan commodity (other than upland cotton or extra long staple cotton), a marketing assistance loan under section 7231 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) Special rule for cotton
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.

(c) Extensions prohibited
The Secretary may not extend the term of a marketing assistance loan for any loan commodity.