7 CFR 1220.110
§ 1220.110 First purchaser.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 1220.110, § 1220.110 First purchaser, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/24690
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Full text
The term first purchaser means—
(a) except as provided in paragraph (b) of this section, any person buying or otherwise acquiring from a producer soybeans produced by such producer; or
(b) In any case in which soybeans are pledged as collateral for a loan issued under any Commodity Credit Corporation price support loan program and the soybeans are forfeited by the producer in lieu of loan repayment, the Commodity Credit Corporation.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.